Corporate Banking

Corporate Banking
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Glossary
S. No. Term Definition
Current assets refer to those assets that
are short term in nature. Their value
1 Current Assets
changes due to the increase or decrease
in activity within the company.
Inventories refer to the stocks of raw
2 Inventories materials, finished goods, spares and
work in progress within the company.
Trade debtors are those debtors who owe
3 Trade Debtors you money, due from the sale of finished
goods produced by you.
Prepaid expenses are those expenses
4 Prepaid Expenses that have been paid in advance by the
company
Fixed assets are all those assets that are
5 Fixed Assets held by the company to generate
revenues. They are not for sale
It refers to any work in progress in
respect of plant or capital equipment.
6 Capital Work-in Progress
This often shows the progress of any
expansion plans.
Non current assets are assets that have a
tenor longer than one year, but which
cannot be classified into the fixed assets
7 Non-current Assets
category. These include loans and
advances greater than a year, deposits
which are long term in nature etc.
This refers to taxes paid in advance, that
can be set-off with tax liability in the
8 Deferred Tax Assets later years. The tax expenses is incurred
in this financial year but is utilized to set
off taxes from future years.
Current Liabilities are liabilities that need
9 Current Liabilities to be repaid immediately, or within a
year.
This represents the amount of equity that
10 Paid-up Capital has been invested by owners of the
company.
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Corporate Banking
This represents any surplus amount that

11 Revaluation Reserves has been included in the balance sheet
through revaluation of assets.
Minority Interest refers to the investment
12 Minority Interest of the company in the assets of a
subsidiary company.
Deferred tax liability refers to any tax
liabilities that have to be borne by the
13 Deferred Tax Liability
company pertaining from the previous
years due to deferment.
14 Security It is the protection against any loss.
A Primary Security would usually be one
15 Primary Security that offers the highest degree of comfort
to the bank.
Secondary Security is usually additional
16 Secondary Security security that the bank takes, to mitigate
risk even further.
Tangible security is that which has
physical form (unlike, for example, a
17 Tangible Security
patent or a copyright). It can be
possessed and liquidated on default.
Intangible security is usually secondary in
nature. Often, this is in addition to a
primary tangible security. It can,
18 Intangible Security
however, be primary in case the
borrower is not able to offer any tangible
security to the bank.
Mortgage is the legal structure used to
define the rights of the lender and
19 Mortgage
borrower, whenever the asset is
immovable property.
In this case, the borrower hands over the
20 Equitable Mortgage documents of ownership of the property,
to the bank.
In this case, the borrower enters into a
Memorandum of Entry that defines the
terms of the mortgage. The
21 Mortgage by MOE memorandum is an enforceable legal
document in the event of a default by the
client. There is a cost that must be paid
to avail of this mortgage.
Corporate Banking
This is the safest mortgage option

available; but it is also time consuming to
22 Registered Mortgage implement as well as expensive. There
are no paper hassles as documents of the
property are not needed.
Hypothecating an asset gives the owner
23 Hypothecating the right to use it, and the lender the
right to seize and sell it in case of default.
Pledging an asset takes away the right of
the owner to use it. This means that, the
24 Pledge asset will lie with the lender. So if a
company has pledged any assets, the
assets will physically lie with the lender.
Lien refers to the right of the lender to
retain any assets in its possession for the
purpose of security. Hence in all the
25 Lien
previous cases, the bank has a lien on
the asset. Lien on fixed deposits is the
most common form of lien for a bank.
Corporate Guarantees are usually issued
26 Corporate Guarantees by a corporate to a bank, on behalf of
another corporate.
Guarantees issued by individuals in their
personal capacity to a financial
27 Personal Guarantees
institution, or to another beneficiary, are
personal guarantees.
The Debt Service Reserve Account
(DSRA) works as an additional security
28 Debt Service Reserve measure for lenders. It is an account
where the project sponsor undertakes to
maintain a minimum balance.
When the value of the security is equal
to, or more than, the value of facility
29 Fully Secured
offered to the borrower, the facility is
considered fully secured.
When the value of the security is less
than 10% of the facility amount, it is
30 Unsecured
considered as an unsecured facility by
the bank.
Corporate Banking
When the value of the security is equal

to, or more than, ten percent of the
31 Partially Secured facility amount but less than hundred
percent of the facility amount, the facility
is considered partially secured.
Pari Passu means that, the lender is on
32 Pari Passu an equal footing with other lenders who
have a claim on the security.
This charge will subordinate the claim of
the rest of the lenders, after the set of
33 Second Charge
lenders who retain first charge over the
assets.
This is the set of lenders who have first
right of enforceability over the asset. The
34 First Charge other lenders can only enforce their right
after the lenders with first charge have
satisfied their claim.
Unencumbered security would be when
35 Unencumbered Security there are no claims and the borrower has
a clear title to the property.
An encumbered security would mean
36 Encumbered Security that, the company that is offering the
security does not have a clear title to it.
Tenor is the period for which the
37 Tenor
borrower can enjoy the facility.
Rest is the period that the bank considers
for deducting the amount of the loan
38 Rest repaid, from the loan balance. It is
relevant only for loans where interest is
calculated on a reducing balance.
A tranche refers to an installment of the
loan, that the bank disburses. This
concept is often used when structuring
39 Tranche
term loans. One can setup and agree
upon a term loan limit with the client and
then later disburse it in tranches.
The availability period refers to the
40 Availability Period period for which the client can avail the
facility.
Corporate Banking
One credit facility automatically comes

41 Back to Back Facilities into existence as soon as the other is
dissolved.
An NPA is a loan or an advance where,
interest and/ or installment of principal
42 NPA
remain overdue for a period of more than
90 days.
Assets that have remained NPA for a
43 Substandard Assets
period less than or equal to 12 months.
Assets which have remained in the
44 Doubtful Assets substandard category for a period of at
least 12 months.
Assets identified by the bank, or internal
or external auditors, or RBI inspection, as
45 Loss Assets
bad debts but the amount has not been
written off wholly or partly.
Articles of Association are the regulations
governing the relationships between the
shareholders and directors of the
46 AoA
company, and are a requirement for the
establishment of a company under the
law of India.
Memorandum of Association is the
47 MoA document that governs the relationship
between the company and the outside.
Concentration Risk is the risk that arises
48 Concentration Risk from the company being too dependent
on either customers or suppliers.
This is the risk of having too much
49 Customer Concentration dependence on a single or group of
customers.
This is the risk of having too much
50 Supplier Concentration dependence on a single or group of
suppliers.
Acquiring ownership of own supply chain,
51 Backward Integration usually in the hope of reducing supplier
power and thus reducing input costs.
Rating is, essentially, attaching an
alphabetical/alphanumeric symbol to the
52 Rating
credit worthiness of the company (its
ability to repay debt).
Corporate Banking
Given to companies on the strength of

53 Issuer Rating
their financials
Given to a particular debt issue (bonds,
54 Issue Rating
long term loans, short term loans, etc.)
A positive would mean that the rating
agency believes that, the rating given to
55 Positive Watch
the corporate is likely to improve by the
next review.
A negative watch would mean that the
rating agency believes that, the rating
56 Negative Watch given to the corporate is likely to
deteriorate by the next review (usually
six months).
Market share is the portion or percentage
57 Market Share of sales of a particular product or service
in a given region.
Earnings before Interest, Taxation,
58 EBITDA
Depreciation and Amortization
59 COGS Cost of Goods Sold
It is the fund which is composed of
contribution made by the employee
60 Provident Fund during the time he worked along with an
equal contribution from employers. It is
returned to employee on retirement.
A written agreement under which a
property owner allows a tenant to use the
61 Lease
property for a specified period of time
and rent.
The term bank charge covers all charges
62 Bank Charges
made by banks to their customers.
It is the reduction in value for intangible
63 Amortisation
assets, and for land.
It represents the wear and tear on the
64 Depreciation
machinery that is used by the company.
This is paid for previous years can also be
65 Deferred Tax
negative or accruing in nature.
It show the actual margin of the business
after accounting for everything (all costs)
66 Net/PAT Margin
including any exceptional
income/expense.
Corporate Banking
Basic Earning Power (BEP) shows how

67 BEP much profit you generate by investing in
assets.
Tangible Net Worth (TNW) shows the net
worth of the company after removing
68 TNW
intangible assets and revaluation reserve
from the company.
Interest cover shows the amount
69 Interest Cover Ratio available to pay interest, as a multiple of
the interest expense.
70 ABS Asset Backed Securities
Investment banks responsible for
structuring the securities to be issued
71 Arrangers and liaison with other parties such as
investors, credit enhances, rating
agencies etc.
Build Own Lease Transfer. Subleased to
other tenants after building on a leased
72 BOLT land and is transferred to the
government agency after concession
period.
Build Own Operate. Same as BOOT
73 BOO except that the asset is perpetually
owned by the operator.
Build Own Operate Share Transfer. Same
as BOOT except that during the
74 BOOST
concession period the revenue is shared
with the government agency.
Build Own Operate Transfer. Same as
BOT except that asset ownership is with
75 BOOT
the operator but has to be transferred at
the end of the concession period.
Built Operate Transfer. The assets are
owned by government agency which will
76 BOT
take back the assets after the concession
or license period.
Bridge loans are sanctioned as a
temporary loan that has to be paid off
77 Bridge Loans post a pre-decided event happening. The
most common form of bridge loan is for
public offers.
Corporate Banking
78 Call or Bull Spread Buy a call and sell a call.

The cash credit facility is an account that
can be utilized at any time at a
predetermined rate of interest. In a cash
79 Cash Credit
credit facility, the bank assesses the
value of inventory and receivables a
business has, on average.
CDR stands for Corporate Debt
Restructuring. This is the mechanism set
up by RBI to deal with cases when a
80 CDR company is unable to pay the
outstanding debt and interest on its
balance sheet as that would put it out of
business.
81 CLO Collateralized Loan Obligations
Committed facility means that, the
customer has the right to use the facility
82 Committed Facility
as long as the conditions and covenants
of the facility are met.
The government body or ministry
83 Concessioning Authority responsible for infrastructure
development.
Capex loans are essentially long term in
84 Capex Loans nature. They are given for a specific
purpose.
The right but not the obligation to buy or
85 Currency Options sell foreign exchange, at a specified
price, at a specified future date.
Design Build Finance Operate. Designed,
financed and operated perpetually. Can
86 DBFO
be combined with transfer to form
DBFOT.
This signifies the capital structure risk for
87 Debt Equity Ratio the SPV, the higher this ratio the higher
the risk.
Debt Service Coverage Ratio is a popular
ratio which is generally stipulated by the
lender as a covenant to have a adequate
88 DSCR
cushion for repayment of debt and
interest. The higher the ratio, the better
it is for the lenders.
Corporate Banking
The Debt Service Reserve Account works

as an additional security measure for
lenders as it is generally a deposit equal
to a given number of months projected
89 DSRA
debt service obligations. It also acts as a
cash buffer when the cash available for
debt service from normal operations is
insufficient to meet the debt obligations.
External Commercial Borrowing.
90 ECB Borrowing by Indian corporates from
other countries.
These corporates have revenue of more
91 Emerging Corporates than Rs.200 crore. Though rarely have a
presence outside India.
Engineering Procurement and
92 EPC
Construction.
The relationship manager needs to
93 External Analysis evaluate and measure the impact of the
external environment on the company.
These can be either fixed or variable.
That is, a percentage of the overall
94 Facility Setup Fees facility limit. It is upfront in nature and
the decision as to what fee to be
charged, will vary from client to client.
Financial Analysis refers to the
assessment of a business to deal with the
95 Financial Analysis planning, budgeting, monitoring,
forecasting, and improving of all financial
details within an organization.
A forward transaction is a contractual
commitment to buy or sell a specified
96 Forward Contract
amount of foreign exchange for a
specified price at a specified future date.
All divisions of a bank borrow from or
lend funds to Treasury. The RM will
97 Funds Transfer Pricing
obtain an internal Funds Transfer Pricing
from them on a periodic basis.
98 IDC Interest During Construction.
Corporate Banking
This is also stipulated by lenders where

there are multiple levels of debt and
99 Interest Coverage Ratio
interest is paid on both senior and
mezzanine debt.
Large corporates are big domestic
enterprises. They have a sophisticated
corporate structure. They may serve
100 Large Corporates domestic and international markets with
the domestic trades forming a larger
share. They are predominantly located in
their home market.
Often charged as a fixed fee to account
101 Legal Fees for any legal charges the bank might
incur, in setting up the funding limits.
Loss Given Default. It is the percentage
102 LGD of a credit facility that will be lost if the
company defaults.
The expected amount of credit exposure
103 Loan Equivalent Value
that a bank incurs over a period of time
104 MBS Mortgage Based Securities
It means the lender shall not have
recourse to any other assets of borrower,
105 Non Recourse Lending apart from the current and future assets
of the project for which the loan is being
sanctioned.
The counterparty to whom originator
106 Obligor
makes the loan
107 Originator Original lender of the receivables.
An overdraft facility is a running account
108 Overdraft Facility facility. This means the borrower can
withdraw funds at any time.
If a client misses a scheduled repayment,
the interest charged may now become a
109 Penal Interest penal interest rate. This would be 3 to
4% higher than the rate of interest being
charged to the client before penalty.
This is usually variable, and is linked to
110 Processing Fees disbursement of the loan. This is charged
for processing the loan documents.
Corporate Banking
Project Appraisal involves the preliminary

review of the project and offer of terms
111 Project Appraisal for securing the mandate after which the
full-fledged due-diligence process is
carried out for the project.
A financing structure that relies on future
cashflows from a specific project
112 Project Finance development as the primary source of
repayment, with that project’s assets,
rights and interests held as security
113 PTC Pass Through Certificate.
This is charged for the extension of
114 Put or Call Premium
facilities beyond a certain period of time.
Risk Adjusted Return on Capital. It is the
115 RAROC ratio of expected return on investment to
economic capital or risk adjusted capital.
Request For Proposal. It is a call for
116 RFP suppliers to submit a proposal on a
specific need or service.
117 Risk Reversal Buy a call and sell a put.
Basel norms defined the minimum capital
required to be maintained by
118 Risk Weighted Assets internationally active banks. This capital
required, was linked directly to the risk
faced by them in their operations.
Securitization refers to the process of
conversion of illiquid loans into tradable
119 Securitization
securities. It involves an issue of
securities backed by specific assets.
Collects the periodic installments from
obligors and makes payment to
120 Servicer
investors, follows up on delinquent
accounts, prepares MIS etc.
It is estimated that in terms of value, the

sector accounts for about 39 percent of
121 SME
the manufacturing output and around 33
percent of the total export of the country.
Corporate Banking
A special purpose vehicle is a separate

legal entity, usually a limited company of
122 Special Purpose Vehicle some type or, sometimes, a limited
partnership, created to fulfill narrow,
specific or temporary objectives.
Syndicated loans are credits granted by a
group of banks to a borrower. They allow
the sharing of credit risk between various
123 Syndicated Loans
financial institutions without the
disclosure and marketing burden that
bond issuers face.
Trustee oversees the performance of the
124 Trustee transaction till maturity. Responsible to
protect investors interest.
Any part of the loan that had to be
125 Underwriting syndicated and could not be, can be
absorbed by the underwriter.
The Working Capital Term Loan is a
rarely sanctioned loan that actually gives
126 WCTL
a long term loan to a borrower for
working capital purpose.
A short term revolving loan facility given
for the working capital requirement of the
company. The WCDL is a common form
127 WCDL
of lending to corporates and favored
among banks, because it is a negotiated
loan.
Working Capital Loans are essentially
short term in nature, and are given to
128 Working Capital Loan companies to fund the requirements that
emerge in the day to day working of the
company.
A bank becomes the LC accepting bank, if
129 Accepting Bank it accepts the bill of exchange drawn on
itself by the exporter.
Advance payment transactions are where
the buyer pays the seller in advance for
130 Advance Payment the goods. These transactions typically
take place in circumstances where the
seller enjoys a monopoly market.
Corporate Banking
The bank which communicates the LC

131 Advising Bank
issuance is known as the advising bank.
The buyer, one who starts the LC
132 Applicant
process.
An LC which helps the trader keep the
133 Back-to-Back LC ultimate buyer and seller not known to
each other.
Bid bonds are submitted by works or
supplies contractors who wish to bid for a
134 Bid Bonds
tender. They express willingness and
ability to successfully bid for the contract.
A non interest bearing written order used
primarily in international trade that binds
135 Bill of Exchange one party to pay a fixed sum of money to
another party at a predetermined future
date.
A Bank Guarantee (BG) is an instrument
by which the issuing bank guarantees the
satisfactory performance of a contract, or
136 Bank Guarantee (BG)
of the non happening of an event (such
as an event of default), to the
beneficiary.
A legal document between the shipper of
a particular good and the carrier detailing
the type, quantity and destination of
137 Bill of Lading the good being carried. It also acts as a
document of title of the goods, and hence
is needed to take delivery of the goods at
the destination.
In a buyers credit transaction, finance is
arranged by the importer from an
138 Buyers Credit overseas financial institution, usually a
bank, to pay for the imports on the due
date.
This is important document to prevent
139 Certificate of Origin fraud and certifies the origination of
goods.
Corporate Banking
The seller arranges for export clearance

of the goods, pays for the main carriage
and loading charges at the port of origin,
140 CFR
and loads the goods on the ship and the
buyer arranges for transit insurance and
all other associated costs.
The seller will arrange for the carriage of
goods by sea to a port of destination,
141 CIF transit insurance and provide the buyer
with the documents necessary to obtain
the goods from the carrier.
Exporter sends the goods and the
commercial or transport documents
directly to the importer. Only the usance
142 Clean Collections
bill of exchange is sent through the bank
for collection. This method is used very
rarely.
These are unique identification code
143 CMS Client Code given to customers of cash management
services
Commercial invoice is the billing and
statement for goods shipped by the seller
144 Commercial Invoice to the buyer. It needs to give the exact
details of the goods that are being
shipped.
A confirmed LC is one where a bank other
145 Confirmed LC than the LC issuing bank has added their
payment confirmation.
The bank which adds its payment
146 Confirming Bank confirmation to an existing LC is known
as the confirming bank.
In an export collection process, all the
banks in the system act on behalf of the
exporter. The exporter, who is also the
147 Consignor
seller, is therefore also referred to as the
principal, the drawer (since he draws up
the bill of exchange) or the consignor.
Corporate Banking
This is a form, usually obtainable only

from the consulate of the importing
148 Consular Invoice country, on which the exporter or its
agent must enter a detailed description of
the goods being shipped.
The bank of the applicant issues a
counter indemnity, also known as a
149 Counter Guarantee counter guarantee to the correspondent
bank, who then issues the final guarantee
to the beneficiary in local currency
Customs guarantees are financial
guarantees, as they are provided to
150 Customs Guarantee
secure the liability of the importer
towards the duty amount.
The seller arranges for all transportation
charges, insurance costs, export and
151 DDP
import clearances and delivers the goods
to the buyer at an agreed place.
Documents not in compliance with LC
152 Dicrepant Documents terms and conditions are known as
discrepant documents.
Documents are released to the importer,
153 Documents against Acceptance on obtaining acceptance of the importer
on a usance or term bill of exchange.
In this case, documents are released to
154 Documents against Payment the importer on making payment for the
shipment.
It is a tripartite arrangement between the
155 Escrow Account escrow banker (also known as the escrow
agent) and the two parties to a contract.
A trade term requiring the seller to
deliver goods at his or her own place of
156 EXW
business. All other transportation costs
and risks are assumed by the buyer.
If an exporter enters into an agreement
with a bank to discount his entire or large
157 Factoring set of receivables (not a single bill but all
his bills), this process is called factoring
(short term receivables).
Corporate Banking
Financial guarantees are used to secure a

158 Financial Guarantees financial commitment such as a loan, a
security deposit, etc.
Seller arranges for transportation till the
port of origin and pays for loading
charges at the port and also arranges for
159 FOB
export clearance for the goods. The
buyer arranges for main carriage,
insurance and all costs henceforth.
Under this method, each bank pays what
160 Gross Settlement Method it owes to another, irrespective of what
might be owed to it by the other bank.
Under this, the value of the instrument is
credited to the account of a client on a
161 Guaranteed Day Arrangement predetermined day, even if the status of
the instrument is unknown at the time of
credit.
Each bank branch is assigned a separate
code which identifies the particular
162 IFSC Code
branch in the electronic network. These
are known as IFSC code
Commercial terms and their
understanding differ from country to
country creating difficulties for parties in
trade across boundaries. The
163 Incoterms
International Chamber of Commerce
(ICC) publishes Incoterms interpreting
the costs, risks and responsibilities of
buyers and sellers in international trade.
An irrevocable LC is an LC which can be
cancelled only with the express consent
164 Irrevocable LC
of the beneficiary, once the same has
been issued and advised.
When the post shipment finance is
granted for an order executed against a
165 LC Bill Discounting letter of credit (issued by a bank
acceptable to the funding bank) the same
is known as LC Bill Discounting (LCBD).
Corporate Banking
A Letter of Credit can be defined as a

payment undertaking given to the
beneficiary (seller) by the issuing bank
on behalf of the applicant (buyer) to
166 Letter of Credit
make payment to the seller, provided,
the seller complies with the documentary
requirements specified in the letter of
credit.
A negotiating bank checks documents for
credit compliance, pays the exporter, and
167 Negotiating Bank
then claims reimbursement from the
issuing bank.
Under this method, credits and debits
168 Net Settlement Method between banks are netted off at periodic
intervals, several times during the day.
This is the reverse of advance payment
transactions, where the buyer pays the
seller after the goods have been
delivered, often after a certain number of
169 Open Account Trading
days of credit. This is used commonly in
cases where the buyer enjoys an upper
hand against his sellers and can hence
command terms.
Option is a contract between a buyer and
a seller that gives the buyer the right,
170 Options
but not the obligation, to buy or to sell a
particular asset
Cheque that are payable at locations
171 Outstation Cheque
other than the pick up location
Banks provide funding to exporters
against confirmed orders, or letters of
credit received from overseas buyers.
172 Packing Credit Since pre shipment finance is provided
for all activities up to packing and
shipping of goods, it is known as packing
credit.
A paying bank checks documents for
173 Paying Bank credit compliance, claims money from the
issuing bank, and then pays the exporter.
Corporate Banking
Successful bidders to a contract are

usually required to provide a
174 Performance Bonds performance bonds as proof of their
ability to execute the project to the
satisfaction of the customer.
Financial assistance provided against
export orders that have already been
175 Post Shipment Export Finance
executed is known as Post Shipment
Export Finance.
A written, dated and signed two-party
instrument containing an unconditional
176 Promissory Notes promise by the maker to pay a definite
sum of money to a payee on demand or
at a specified future date.
Red-clause LCs are used to provide an
177 Red-clause LC
advance to the exporter by the buyer.
The exporters bank is also known as the
178 Remitting Bank
remitting bank.
A revocable LC is one which can be
179 Revocable LC cancelled without the consent of the
beneficiary.
These LCs are used by buyers and
suppliers who have long standing
business relationships. The LC is
180 Revolving LC
reinstated each time the same is utilized,
thereby eliminating the need for
reissuance.
A Shipping Guarantee is a type of bank
guarantee issued by the bank of the
importer to the shipping agent, to secure
181 Shipping Guarantee
the liability of the importer to submit the
bill of lading on time, and thereby enable
him to take delivery of the merchandise.
A sight LC is similar to a delivery against
payment transaction, where the issuing
182 Sight LC bank will pay to the beneficiary
immediately on presentation of credit
compliant documents.
Corporate Banking
In contracts where the payment is done

in stages, or on completion of milestones,
guarantees similar to mobilization
183 Stage Payment Guarantee
advance guarantees are provided by the
contractor, to protect the customer
against subsequent default.
Stand by LCs (or SBLCs) are issued to
184 Stand-by LC protect against non performance or non
happening of a particular event.
Suppliers credit is extended by the
185 Suppliers Credit
overseas supplier for the import.
The bank which provides the payment
186 The LC Issuing Bank
undertaking.
Transaction banking denotes the set of
services availed mostly by businesses,
187 Transaction Banking
that help them execute various domestic
and international transactions smoothly.
The LC which allow part or all of the
188 Transferable LC credit to be available to the ultimate
seller.
UCPDC stands for Uniform Customs &
Practices for Documentary Credits. It is a
set of rules framed by the international
189 UCPDC
chamber of commerce (ICC), Vienna,
governing letter of credit transactions
across the world.
A usance LC, much like a delivery against
190 Usance LC acceptance transaction, incorporates a
credit period in the LC.
A warranty bond is obtained from
191 Warranty Bonds suppliers to ensure fulfillment of service
obligations during the warranty period.

Corporate Banking - Glossary

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A QUALITY E-LEARNING PROGRAM BY WWW.LEARNWITHFLIP.COM

This represents any surplus amount that

This is the safest mortgage option

When the value of the security is equal

One credit facility automatically comes

Given to companies on the strength of

Basic Earning Power (BEP) shows how

78 Call or Bull Spread Buy a call and sell a call.

The Debt Service Reserve Account works

This is also stipulated by lenders where

Project Appraisal involves the preliminary

It is estimated that in terms of value, the

A special purpose vehicle is a separate

The bank which communicates the LC

The seller arranges for export clearance

This is a form, usually obtainable only

Financial guarantees are used to secure a

A Letter of Credit can be defined as a

Successful bidders to a contract are

In contracts where the payment is done

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