default provision

См. также в других словарях:

• default interest provision — A provision in a contract which: • Provides a contractual sanction against non payment of a sum of money; and • Is a form of liquidated damages for that non payment. A default interest provision is nearly always included in an agreement where… …   Law dictionary

• default — de·fault /di fȯlt, dē ˌfȯlt/ n [Anglo French defalte defaute lack, fault, failure to answer a summons, from defaillir to be lacking, fail, from de , intensive prefix + faillir to fail] 1: failure to do something required by duty (as under a… …   Law dictionary

• Provision For Credit Losses - PCL — In accounting, an estimation of potential losses that a company might experience due to credit risk. Provision for credit losses is an estimated amount to be lost and is treated as an expense on the company s financial statements. Companies that… …   Investment dictionary

• Default (finance) — Finance Financial markets Bond market …   Wikipedia

• cross-default — A clause which operates by automatically defaulting a party under Agreement A where it has defaulted under Agreement B. A cross default provision effectively gives the non defaulting party under Agreement A the benefit of the default provisions… …   Law dictionary

• Universal default — is the term for a practice in the financial services industry for a particular lender to change the terms of a loan from the normal terms to the default terms (i.e. the terms and rates given to those who have missed payments on a loan) when that… …   Wikipedia

• cross default — Provision in the loan documents in which the debtor agrees that default on one loan will also constitute default on other obligations to the creditor. American Banker Glossary …   Financial and business terms

• grace and notice provision — The provision in a loan agreement that a borrower who fails on the due date to meet either an interest obligation or capital repayment obligation or who fails to comply with an undertaking is not initially in default. This prevents the cross… …   Accounting dictionary

• UK default charges controversy — The UK default charges controversy is an on going issue in consumer law, relating to the level of fees charged by banks and credit card companies for late or dishonoured payments, exceeding credit limits, etc.Legal backgroundA personal account… …   Wikipedia

• Event Of Default — An action or circumstance that causes a lender to demand full repayment of an outstanding balance sooner than it was originally due. In many agreements, the lender will include a contract provision covering events of default to protect itself in… …   Investment dictionary

• grace and notice provision — The provision in a loan agreement that a borrower who fails on the due date to meet either an interest obligation or capital repayment obligation or who fails to comply with an undertaking is not initially in default. The grace and notice… …   Big dictionary of business and management