|
|
Payment of balance |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Payment of balanceThis usually takes place between a week and a month after exchanging contracts. It is possible to have a simultaneous exchange and completion if you are in a real hurry to get moving. When you complete the sale, your solicitor forwards the remaining balance of the purchase price to the seller's solicitor. You then have the right to take occupancy of the property and are free to move in.Payment of balance Similar MatchesEuropean Payments UnionEuropean Payments UnionAn international arrangement for settling payments among member countries in Europe during a period in which many of the countries' currencies were not convertible. The EPU functioned from 1950 to 1958, after which it was replaced by the EMA. Payment cardPayment cardA plastic card, either charge card, credit card or debit card used by the owner to purchase goods or services or to obtain cash. Facilitating paymentFacilitating paymentAs permitted under the U.S. Foreign Currupt Practices Act, a facilitating payment is a payment for "routine governmental action," such as obtaining permits, processing papers, providing normal government services, etc. It is, in fact, a bribe, but a small one that does not induce any illegal or exceptional behavior. Payments nettingPayments nettingReducing fund transfers between affiliates to only a netted amount. Netting can occur on a bilateral basis (between pairs of affiliates), or on a multi-lateral basis (taking all affiliates together). Annualised payment schemeAnnualised payment schemeAlthough the borrower pays interest at a variable rate, which can change from month to month, the lender charges a set amount of interest each month and then adjusts the balance at the end of the year. Further SuggestionsPayment CapBalance of payments Payment holiday Prepayment penalty Balloon payment Payments imbalance Payment float Repayment vehicle Payments pattern Progress payments Repayment mortgage Discount payment Receive versus payment Overpayment graduated payment mortgage repayment mortgage Balance of payments argument for protection clearing house automated payment system maintenance payments Additional principal payment Repayment period Balance of payments deficit Installment payments Early repayment period Transfer payments |
|
|
|