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Topics related to "Letter of credit issuer not entitled to payment of surplus funds drawn by"

Bonds Bonds
BONDS Bonds are debts to the issuers, whereas they are investments to buyers. Such debts appear on balance sheets of the issuing entities as long-term liabilities. Bonds provide a source of funds for the issuer and a payment to the buyer in the form of interest. Both bonds and stocks are referred... Read more
letter of credit letter of credit
letter of credit commercial instrument through which a bank or other financial institution instructs a correspondent institution to advance a specified sum of money to the bearer. The document is called a circular letter of credit when it is not addressed to any particular correspondent. In effect,... Read more
Deposits in Court Deposits in Court
DEPOSITS IN COURT The payments of funds or property to an officer of the court as a precautionary measure during the pendency of litigation. The amount placed with the court constitutes the acknowledged liability of a person who is uncertain as to whom he or she is liable. The ascertainment... Read more
Coupon Coupon
COUPON A certificate evidencing the obligation to pay an installment of interest or a dividend that must be cut and presented to its issuer for payment when it is due. Coupons are usually attached to a document, such as a promissory note, bond, share of stock, or a bearer instrument. A coupon is... Read more
collateral collateral
collateral , something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although the latter may also be accepted as such. In case of default, the creditor may... Read more
payment payment
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Dishonor Dishonor
DISHONOR To refuse to accept or pay a draft or to pay a promissory note when duly presented. An instrument is dishonored when a necessary or optional presentment is made and due acceptance or payment is refused, or cannot be obtained within the prescribed time, or in case of bank collections, the... Read more
balance of payments balance of payments
balance of payments balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of balance of trade . Balance of payments includes all payments between a country and its trading partners and is made up of the... Read more
bonus bonus
bonus extra amount in money, bonds, or goods over what is normally due. The term is applied especially to payments to employees either for production in excess of the normal (wage incentive) or as a share of surplus profits. The wage incentive was designed during the late 19th cent. not only to... Read more
MBNA Corp MBNA Corp
MBNA Corporation 1100 North King StreetWilmington, Delaware 19801U.S.A.Telephone: (302) 453-9930Toll free: (800) 362-6255Fax: (302) 432-3614Web site: http://www.mbnainternational.com Public Company Incorporated: 1982Employees: 22,000Sales: $6.47 billion (1999)Stock Exchanges: New YorkTicker... Read more

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