Legal tender in the form of banknotes and coins that are readily acceptable for the settlement of debts.
A consent order or decree is an agreement by a defendant to cease activities deemed illegal by the government. This agreement, subject to court approval, bypasses definitive judicial determination but is binding.
A derivative contract in which one party agrees to pay another the difference between the current value of an underlying asset and the value at the time the contract was made.
The delivery date is an important term used in various financial transactions, specifically in futures contracts and regular way transactions. Understanding this concept is crucial for participants in financial markets.
Euroclear is a pan-European provider of clearing, settlement, and related services for bond, equity, and investment-fund transactions. Based in Brussels, it was set up in 1968 by the US bank J. P. Morgan.
A forward contract involves the actual purchase or sale of a specified quantity of a commodity, government security, foreign currency, or other financial instrument at a price agreed upon now, with delivery and settlement at a future specified date.
A Friendly Suit is an action authorized by law, brought by agreement between the parties, to secure a judgment that will have a binding effect in cases where an agreement or settlement would not.
A Life Insurance Settlement is the sale of an existing life insurance policy to a third party for a lump sum that is greater than the policy's cash surrender value but less than its net death benefit.
Real estate closing, also known as settlement or completion, is the process where the ownership of property is transferred from the seller to the buyer. It involves the finalization of all contracts and financial arrangements, the signing of relevant documents, and the transfer of funds.
Regular-Way Delivery and Settlement refer to the standard procedure for completing a securities transaction at the purchasing broker's office on the third full business day following the trade date, as mandated by the New York Stock Exchange.
In various contexts, the term 'settlement' refers to different but related processes involving the distribution, resolution, or agreement on various matters such as estates, legal disputes, or real estate transactions.
