Related Words

Loan Agreement: A written contract between a lender and a borrower that sets out the rights and obligations of each party regarding a specified loan.

Partnership Agreement: A written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.

Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.

Payback Agreement: An agreement between an employer and an employee used primarily for relocated employees, stating that an employee will not voluntarily terminate his or her employment with the organization f . . . View Full Definition

Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repay . . . View Full Definition

Policy Loan: A loan often made at a below-market interest rate from an insurance company to a policyholder that is secured by the cash surrender value of a life insurance policy.

Piggyback Loans: A loan divided into two parts with one lender taking a secondary security position.

Parallel Loan: A process whereby two companies in different countries borrow each other's currency for a specific period of time, and repay the other's currency at an agreed maturity for the purpose of red . . . View Full Definition

Policyholder Loan Bonds: Packaged loans acquired by policyholders that are secured by the cash surrender value of the policies, and are offered by a broker/dealer as bonds.

Open-Buyer-Agency-Agreement: This agreement is a nonexclusive agency contract between a broker and a buyer. It permits the buyer to enter into similar agreements with an unlimited number of brokers. The buyer is obligat . . . View Full Definition