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Financial Terms | |
Nonrecourse |
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Definition of NonrecourseNonrecourseWithout recourse, as in a non-recourse lease.
Related Terms:FactoringThe discounting, or sale at a discount, of receivables on a nonrecourse, notification Production payment financingA method of nonrecourse asset-based financing in which a specified Aggregate Production FunctionAn equation determining aggregate output as a function of aggregate inputs such as labor and capital. Asset-based financingMethods of financing in which lenders and equity investors look principally to the Asset-Based FinancingLoans granted usually by a financial institution where the asset being financed constitutes the sole security given to the lender. Automatic Benefits PaymentAutomatic payment of moneys derived from a benefit. Back-to-back financingAn intercompany loan channeled through a bank. ![]() Balance of paymentsA statistical compilation formulated by a sovereign nation of all economic transactions Balance of PaymentsThe difference between the demand for and supply of a country's currency on the foreign exchange market. Balance of Payments AccountsA statement of a country's transactions with other countries. Break-even lease paymentThe lease payment at which a party to a prospective lease is indifferent between Break-even payment rateThe prepayment rate of a MBS coupon that will produce the same CFY as that of Bridge financingInterim financing of one sort or another used to solidify a position until more permanent Cash Flow Provided or Used from Financing ActivitiesCash receipts and payments involving CASH FLOWS FROM FINANCING ACTIVITIESA section on the cash-flow statement that shows how much cash a company raised by selling stocks or bonds this year and how much was paid out for cash dividends and other finance-related obligations. 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 Cost of lease financingA lease's internal rate of return. cost of production reporta process costing document that Coupon paymentsA bond's interest payments. Current Tax Payment Act of 1943A federal Act requiring employers to withhold income taxes from employee pay. Date of paymentDate dividend checks are mailed. Debt FinancingRaising loan capital through the creation of debt by issuing a form of paper evidencing amounts owed and payable on specified dates or on demand. Debtor-in-possession financingNew debt obtained by a firm during the Chapter 11 bankruptcy process. Delivery versus paymentA transaction in which the buyer's payment for securities is due at the time of economic production run (EPR)an estimate of the number Electronic Federal Tax Payment Systems (EFTPS)An electronic funds transfer system used by businesses to remit taxes to the government. equivalent units of production (EUP)an approximation of the number of whole units of output that could have been Export FinancingA range of financing products (loans. guarantees, letters of credit, insurance etc.) in support of a variety of activities which help Canadian firms expand into new export markets. Factor of ProductionA resource used to produce a good or service. The main macroeconomic factors of production are capital and labor. Federal Financing BankA federal institution that lends to a wide array of federal credit agencies funds it FHA prepayment experienceThe percentage of loans in a pool of mortgages outstanding at the origination financing activitiesOne of the three classes of cash flows reported in the financing decisiona judgment made regarding the method financing decisionDecision as to how to raise the money to pay for investments in real assets. Financing decisionsDecisions concerning the liabilities and stockholders' equity side of the firm's balance Financing InstrumentsThis is a generic term that refers to the many different forms of financing a business may use. For example - loans, shares, and bonds are all considered financing instruments. Graduated-payment mortgages (GPMs)A type of stepped-payment loan in which the borrower's payments Interac® Direct PaymentInstead 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). Interest paymentsContractual debt payments based on the coupon rate of interest and the principal amount. Lag response of prepaymentsThere is typically a lag of about three months between the time the weighted Lean productionThe technique of stripping all non-value-added activities from Lease PaymentThe 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. Maturity factoringfactoring arrangement that provides collection and insurance of accounts receivable. Multi-option financing facilityA syndicated confirmed credit line with attached options. Net financing costAlso called the cost of carry or, simply, carry, the difference between the cost of financing Non-production overheadA general term referring to period costs, such as selling, administration and financial expenses. Off-balance-sheet financingfinancing that is not shown as a liability in a company's balance sheet. Old-line factoringfactoring arrangement that provides collection, insurance, and finance for accounts receivable. online bill paymentThe electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account. Payment dateThe date on which each shareholder of record will be sent a check for the declared dividend. Payment dateThe date established for the payment of a declared dividend. Payment floatCompany-written checks that have not yet cleared. payment floatChecks written by a company that have not yet cleared. Payment-In-Kind (PIK)bond A bond that gives the issuer an option (during an initial period) either to make Payments nettingReducing fund transfers between affiliates to only a netted amount. Netting can be done on Payments patternescribes the lagged collection pattern of receivables, for instance the probability that a Planned financing programProgram of short-term and long-term financing as outlined in the corporate pre-authorized paymentA 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. PrepaymentA payment made in advance of when it is treated as an expense for profit purposes. Prepayment speedAlso called speed, the estimated rate at which mortgagors pay off their loans ahead of Prepaymentspayments made in excess of scheduled mortgage principal repayments. Process flow productionA production configuration in which products are continually Production-flow commitmentAn agreement by the loan purchaser to allow the monthly loan quota to be Production overheadA general term referring to indirect costs. Production yield varianceThe difference between the actual and budgeted proportions Progress PaymentsPeriodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date. Project FinancingDebt finance, usually non-recourse, provided by financial institutions for the development and construction of a new project. Refinancing (Credit Insurance)Extending the maturity date or increasing the amount of existing debt or both. Also, revising a payment schedule, usually to reduce the monthly payments and often to modify interest charges. Repayment TermsThe 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. Seed Financing/CapitalGenerally, refers to the first contribution of capital toward the financing requirements of a start-up business. Single-payment bondA bond that will make only one payment of principal and interest. stop paymentA 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. Threshold for refinancingThe point when the WAC of an MBS is at a level to induce homeowners to Transfer PaymentA grant or gift that is not payment for services rendered. UNITS OF PRODUCTIONA depreciation method that relates a machine’s depreciation to the number of units it makes each Zero prepaymentassumption The assumption of payment of scheduled principal and interest with no payments. 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