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Settlement options |
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Settlement optionsThe various options available to the beneficiaries of a life insurance policy in the event of the death of the insured. For example a lump sum or an income.Settlement optionsThe various possibilities open to a beneficiary under a life insurance policy as to how the benefit will be paid out.Settlement options Similar MatchesInsurance settlementInsurance settlementThe payment of proceeds by an insurance company to the insured to settle an insurance claim within the guidelines stipulated in the insurance policy. Dispute settlement mechanismDispute settlement mechanismThe procedure by which the WTO settles disputes among members, primarily by means of a three-person panel that hears the case and issues a report, subject to review by the Appellate Body. Dispute Settlement BodyDispute Settlement BodyThe entity within the WTO that formally deals with disputes between members. It consists of all WTO members meeting together to consider reports of panels and the Appellate Body. SettlementSettlementSettlement is what happens after your broker has bought or sold shares on your behalf. There are three aspects to it:Transfer of ownershipIf you have a nominee account with your broker, the shares you buy or sell are registered in the broker's name, and responsibility for sorting out changes of ownership rests with the broker and the registrar.If you have a certificated account, and you have sold shares, you have to send the share certificate(s) to the broker so that settlement can be effected. If you have bought shares, you will receive a share certificate from the company's registrar either direct or vis your broker.Payment when you buy sharesShare purchases have to be paid for. If your broker works on a 'cleared funds' basis, you will have to have enough money in your broker account to pay for the shares and transaction costs before you buy them. If you haven't got the money available, the broker's system will spot the deficit, and will not process the order.For offline trading, your ability to buy 'on credit' will depend on the kind of relationship you have with your broker. If you have £300 in your account and want to buy £12,000 of shares, eyebrows will be raised and you may be asked to deposit money with the broker before the order is processed.Once a broker has bought shares on your behalf, you have an obligation to supply him with funds prior to the settlement date. Most brokers will accept cheques, direct bank transfers, and debit cards. It is important to check how your broker accepts payment beforehand.Receipt of proceeds when you sell sharesWhen you sell shares, the broker will credit funds to your client account after deducting commission. It is then up to you to decide what to do with that money. You can ask your broker to send the money to your normal bank account, or you can reinvest it in the market, or you can leave it in the client account where it will earn interest.The timing of payment will depend on the settlement time of your transaction. The industry standard used to be T+5 but this changed to T+3 in February 2001. The '5' and '3' simply indicate the number of working days after the transaction date by which settlement must be complete. Immediate settlementImmediate settlementDelivery and settlement of securities within five business days. Further SuggestionsUniform Settlement StatementRegular settlement rolling settlement Same Day Funds Settlement (SDFS) Real Estate Settlement Procedures Act (RESPA) Settlement price Settlement date settlement day Bank for International Settlements (BIS) Continuous net settlement (CNS) Dispute settlement Bank for International Settlements Good delivery and settlement procedures Structured settlement Cash Settlement Next day settlement Settlement risk Exchange Delivery Settlement Price Skip day settlement cash settlement Cash settlement contracts Cash sale or settlement Settlement rate Settlement Exercise settlement amount |
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