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Definition of Take-or-pay contract
A contract that obligates the purchaser to take any product that is offered to it (and pay
Money owed to suppliers.
Amounts a company owes to creditors.
Amounts owed by the company for goods and services that have been received, but have not yet been paid for. Usually Accounts payable involves the receipt of an invoice from the company providing the services or goods.
Short-term, non-interest-bearing liabilities of a business
Acurrent liability on the balance sheet, representing short-term obligations
Amounts due to vendors for purchases on open account, that is, not evidenced
The number of days it would take to pay the ending balance
Expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
Automatic payment of moneys derived from a benefit.
A statistical compilation formulated by a sovereign nation of all economic transactions
The difference between the demand for and supply of a country's currency on the foreign exchange market.
A statement of a country's transactions with other countries.
Amounts owed by the company that have been formalized by a legal document called a bond.
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
A guaranteed investment contract purchased with a single (one-shot) premium. Related:
Cash settlement contracts
Futures contracts, such as stock index futures, that settle for cash, not involving
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 contract accounting method that recognizes contract revenue
Conditional sales contracts
Similar to equipment trust certificates except that the lender is either the
compensation that is dependent on the
A term of reference describing a unit of trading for a financial or commodity future. Also, the actual
A formal written statement of the rights and obligations of each party to a transaction.
Method of accounting for sales or service agreements where completion
an external party that has been granted an outsourcing contract to produce a part or component for an entity
The month in which futures contracts may be satisfied by making or accepting a delivery.
an external party that has been granted an
Contract Work Hours and Safety Standards Act
A federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week.
a contract in which the customer agrees
A bond's interest payments.
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
Customary payout ratios
A range of payout ratios that is typical based on an analysis of comparable firms.
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
Discounted payback period rule
An investment decision rule in which the cash flows are discounted at an
Dividend payout ratio
Percentage of earnings paid out as dividends.
dividend payout ratio
Computed by dividing cash dividends for the year
dividend payout ratio
Percentage of earnings paid out as dividends.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Equal Pay Act of 1963
A federal Act requiring that both sexes receive equal pay
Feasible target payout ratios
payout ratios that are consistent with the availability of excess funds to make
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
In an interest rate swap the counterparty who pays a fixed rate, usually in exchange for a
A guaranteed investment contract where the credit rating is tied to some variable
In an interest rate swap, the counterparty who pays a rate based on a reference rate,
A cash market transaction in which delivery of the commodity is deferred until after the
Agreement to buy or sell an asset in the future at an agreed price.
Forward forward contract
In Eurocurrencies, a contract under which a deposit of fixed maturity is agreed to
See: financial lease.
Agreement to buy or sell a set number of shares of a specific stock in a designated future
Exchange-traded promise to buy or sell an asset in the future at a prespecified price.
A contract in which the seller agrees to provide something to a buyer at a specified future date at an agreed price.
Futures contract multiple
A constant, set by an exchange, which when multiplied by the futures price gives
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
The amount of earnings due to an employee prior to tax and other deductions.
Guaranteed insurance contract
A contract promising a stated nominal interest rate over some specific time
Guaranteed investment contract (GIC)
A pure investment product in which a life company agrees, for a
A contract that obligates a purchaser of a project's output to make cash
An unwritten understanding between two groups, such as an understanding between an employer and employees that employees will receive a stable wage despite business cycle activity.
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).
The amount of interest that is owed but has not been paid at the end of a period.
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 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.
The characteristic of the scheduled principal and interest payments due under a mortgage such that
Amounts that have been loaned to the company and that it still owes.
McNamara-O'Hara Service Contract Act of 1965
A federal Act requiring federal contractors to pay those employees working on a federal contract at
a pay increment earned by achieving a specific
Most distant futures contract
When several futures contracts are considered, the contract settling last.
Nearby futures contract
When several futures contracts are considered, the contract with the closest
The amount of an employee’s wages payable after all tax and other deductions have been removed.
Next futures contract
The contract settling immediately after the nearby futures contract.
Nexus (of contracts)
A set or collection of something.
Amounts owed by the company that have been formalized by a legal document called a note.
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
contracts which have been bought or sold without the transaction having been completed by
The contract that balances the three types of agency costs (contracting, monitoring, and
A contract that, in exchange for the option price, gives the option buyer the right, but not
Options contract multiple
A constant, set at $100, which when multiplied by the cash index value gives the
The loss of cash resulting from a swap into higher price bonds or the need/willingness of a bank or
Payable through drafts
A method of making payment that is used to maintain control over payments made
Related: Accounts payable.
The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
A method of investment appraisal that calculates the number of years taken for the cash flows from an investment to cover the initial capital outlay.
The length of time required for the net revenues of an investment for the net revenues of an investment to return the cost of the investment.
A capital budgeting analysis method that calculates the amount of
The number of years necessary for the net cash flows of an
the time it takes an investor to recoup an
Time until cash flows recover the initial investment of the project.
A credit card into which a company directly deposits an employee's net pay.
In a Treasury refunding, the amount by which the par value of the securities maturing exceeds that
The date on which each shareholder of record will be sent a check for the declared dividend.
The date established for the payment of a declared dividend.
Company-written checks that have not yet cleared.
Checks written by a company that have not yet cleared.
bond A bond that gives the issuer an option (during an initial period) either to make
Reducing fund transfers between affiliates to only a netted amount. Netting can be done on
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