What is a Banking Relationship vs Relationship Banking? You need to have a banking relationship, especially if you’re an entrepreneur or business owner. Having a good bank is key to running a successful business. From getting a loan or line of credit to getting help with invoices and tax season, […]
Banking
38 posts
Defeasing Loans and Bonds Defeasing outstanding loans or bonds is simply substituting collateral that is sufficient to meet all payments of principal and interest on the outstanding securities as they come due. In a contract, a defeasance clause is a provision that voids a bond or loan on a balance […]
What Is a Crossed Check? A crossed check with two parallel lines across it or in the upper left corner can not be cashed. It may only be deposited in the Payee’s account. A crossed check is one that has two parallel lines crossing it. The lines may either be […]
What Is an Open-End Mortgage? An Open-End Mortgage is an expandable loan that allows a borrower to access home equity appreciation for additional funds at a later date. It blends some features of a traditional mortgage with some advantages of a home equity line of credit or HELOC. An open-end […]
What Is a Business Day? Is Saturday a Business Day? A business day typically refers to any day in which normal business operations are conducted. In Western countries, this is generally considered to be Monday through Friday from 9 a.m. to 5 p.m. local time and excludes weekends and public […]
SBLC – What Is a Standby Letter of Credit? SBLC (Standby Letter of Credit) is a bank guarantee to pay a specific amount of money to a seller if the buyer defaults on the agreement. A standby letter of credit is a legal guarantee by a bank on behalf of […]