More advanced account reconciliation services combine electronic data provided by the customer with the bank's records to reconcile completely the account and list all outstanding items. A basic account reconciliation service may simply be a listing of paid checks in serial number order. One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance. An account control agreement is used to establish a security interest conforming to the requirements set forth in the UCC.Īn individual or business that is obligated to pay on an account, chattel paper, contract right, or general intangible.Ī cash management service. The net earnings can then be compared with the various activity service charges based on the volume of transactions and the per item price of the services.Īn agreement perfecting a creditor's interest in a securities account while allowing the securities to remain registered in the name of the owner. The analysis identifies the net earnings based on the average daily ledger balance less reserved requirements and float. Account analysis is normally performed by the bank, but can be done by anyone in the depositor's organization provided sufficient information is available. The analysis may also be used to determine the profitability of a group of demand accounts with the same owner. Name used to refer to a co-maker who agrees to sign a note to induce the lender to make a loan, but who receives no direct benefit from the loan.Īn analysis performed to determine the profitability of each demand account to the bank. An example is a new motor in a piece of equipment. Goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. Usually a remedy provided in a loan document for the lender to use in the event of default by the borrower.Ī provision in a loan document stating that the entire amount of unpaid indebtedness owed to the lender may become immediately due and payable if the borrower defaults.Ī time draft that has been accepted for payment. Making demand for payment in full for a debt that has not yet matured. The offsetting entry is the depreciation expense. A comprehensive, but cumbersome, and somewhat obsolete, method of verifying the ownership and encumbrances of a parcel, or parcels, of real estate.Ī group of methods for achieving periodic reductions in the book value of fixed assets that make larger reductions in the early periods and progressively smaller reductions in later periods. The term "absorption period" is often used to describe the period of time necessary for absorption.Ī written report summarizing the history of title transactions and conditions of title that affect a given piece of land covering the period from the present back to a date in the past. ABS is always expressed as a monthly rate.Ī term used by real estate lenders and developers to describe the process of renting up newly built or renovated office space or apartments. ABS expresses principal prepayments as a percentage of the original number of loans or contracts in the pool of securitized loans that created the security. (2) The name for a convention used to express the rate of prepayments for an asset-backed security. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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