|Automatic Benefits Payment|
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Definition of Automatic Benefits Payment
Automatic Benefits Payment
automatic payment of moneys derived from a benefit.
The restricting of liability holders from collection efforts of collateral seizure, which is
Balance of payments
A statistical compilation formulated by a sovereign nation of all economic transactions
Break-even lease payment
The lease payment at which a party to a prospective lease is indifferent between
Break-even payment rate
The prepayment rate of a MBS coupon that will produce the same CFY as that of
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A bond's interest payments.
Date of payment
Date dividend checks are mailed.
Delivery versus payment
A transaction in which the buyer's payment for securities is due at the time of
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Incremental costs and benefits
Costs and benefits that would occur if a particular course of action were
Contractual debt payments based on the coupon rate of interest and the principal amount.
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
The date on which each shareholder of record will be sent a check for the declared dividend.
Company-written checks that have not yet cleared.
Reducing fund transfers between affiliates to only a netted amount. Netting can be done on
escribes the lagged collection pattern of receivables, for instance the probability that a
bond A bond that gives the issuer an option (during an initial period) either to make
Also called speed, the estimated rate at which mortgagors pay off their loans ahead of
payments made in excess of scheduled mortgage principal repayments.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
A bond that will make only one payment of principal and interest.
assumption The assumption of payment of scheduled principal and interest with no payments.
A payment made in advance of when it is treated as an expense for profit purposes.
The date established for the payment of a declared dividend.
a listing of service departments in an order that begins with the one providing the most service
Checks written by a company that have not yet cleared.
Any feature built into the economy that automatically cushions fluctuations.
Balance of Payments
The difference between the demand for and supply of a country's currency on the foreign exchange market.
Balance of Payments Accounts
A statement of a country's transactions with other countries.
A grant or gift that is not payment for services rendered.
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Workers' Compensation Benefits
Employer-paid insurance that provides their employees with wage compensation if they are injured on the job.
The consideration paid by the lessee to the lessor in exchange for the use of the leased equipment/property. payments are usually made at fixed intervals.
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
Interac« Direct Payment
Instead of paying with cash or a credit card, Interac Direct payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
A system where funds are electronically debited from your account on a specified date by a financial institution (e.g., bill, mortgage or personal loan payments) or perhaps an insurance or an utility company.
A service which enables you to request a 'stop' on any cheque or other pre-authorized payment, as long as the funds have not yet been disbursed. For example, you might request a stop payment on a post-dated cheque if you no longer need the product or service for which that cheque was initially written.
Automatic Waiver of Premium
A benefit that automatically forfeits premium payments.
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