Something of value - securities, evidence of deposit, or other property - pledged to support the repayment of an
A legal document covering the item(s) pledged as collateral on a loan, i.e., note, mortgages, assignment,
A coalition of organizations, such as banks and corporations, set up to fund ventures requiring large capital
A group of persons granted a state charter legally recognizing them as a separate entity having its own rights,
privileges, and liabilities distinct from those of its members. The process of incorporating should be completed
with the state's secretary of state or state corporate counsel, and usually requires the services of an
The settlement of a claim resulting from a defaulted loan for less than the full amount due. Compromise settlement
is a procedure available for use only in instances where the government cannot collect the full amount due within a
reasonable time, by enforced collection proceedings, or where the cost of such proceedings would not justify such
A potential obligation that may be incurred dependent upon the occurrence of a future event. Two examples are: (1)
the liability of an endorser or guarantor of a note if the primary borrower fails to pay as agreed and (2) the
liability that would be incurred if a pending lawsuit is resolved in the other party's favor.
Money obligated for goods and services received during a given period of time, regardless of when ordered or
whether paid for.
A grade assigned to a business concern to denote the net worth and credit standing to which the concern is entitled
in the opinion of the rating agency as a result of its investigation.
The basic unit of identifiable and definable information. A data element occupies the space provided by fields in a
record or blocks on a form. It has an identifying name and value or values for expressing a specific fact. For
example, a data element named "Color of Eyes" could have recorded values of "Blue (a name)," "Bl (an
abbreviation)," "06 (a code)." Similarly, a data element named "Age of Employee" could have a recorded value of
"28" (a numeric value).