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Late charge |
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Late chargeA fee a lender imposes on a borrower when the borrower does not make a payment on time.Late ChargeA penalty for failure to pay an installment payment on time. Usually not allowed as interest for tax deductions. May or may not be included as usury. If not, the amount of late charge is either set by statute or must be "reasonable."Late chargeA charge imposed by a lender to a borrower when the borrower fails to make payment on the due date.Late chargeA fee a credit grantor charges a borrower for a late payment.Late charge Similar MatchesSales chargeSales chargeThe fee charged by a mutual fund at purchase of shares, usually payable as a commission to a marketing agent, such as a financial adviser, who is thus compensated for assistance to a purchaser. It represents the difference, if any, between the share purchase price and the share net asset value. Chargeable eventChargeable eventA transaction which leads to a chargeable gain and which in turn promotes the issuing of a chargeable event certificate. For example the sale of an investment bond with a life company which results in a gain will be classed as a chargeable event. Initial chargeInitial chargeA charge imposed by a fund management company to cover administrative and marketing costs, and to pay for any commission that had to be paid to an intermediary like an IFA (also known as front end load). Exit chargeExit chargeInstead of making an initial charge, some unit trust companies (particularly PEP managers) make a charge if units are cashed in, for example, within five years. In the US this is known as a back end load. Chargeable event certificateChargeable event certificateA certificate issued on the occurrence of a chargeable event. Details listed include the amount of the gain, number of years over which the gain has occurred, the date the transaction took place and that the certificate should be sent to the Tax Office to establish if a higher rate tax liability exists. Proceeds are free from basic rate tax liability. Further SuggestionsImport surchargesales charge Charge off Service charge Charge certificate Discharge of lien chargeable transfer Deferred charge Finance charge Discharge fee Surcharge Discharge Noncash charge management charges Finance Charge First charge carrying charges Unpaid ground rent charge Bankruptcy charge Carrying charge Carrying Charges charge card prior charges Contingent deferred sales charge (CDSC) Redemption charge |
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