Prepayment may refer to Prepayment for service , e.g. phone calls Prepayment of loan , repaying a loan ahead of schedule Deferred expense in accounting dab ... more details
The Sutra of Filial Piety or Sutra on the Profundity of Filial Love , Sutra on Parental Benevolence is an apocryphal sutra composed in China and apparently an exercise in Buddhist apologetics . The text attempts to synthesise native Confucian ideals with Buddhist teachings and was probably produced by Chinese Buddhist monks in imitation of the Confucian Classic of Filial Piety . The sutra seeks to refute Confucian criticism that Buddhism s traditionally monastic focus undermines the virtue of lial piety . http www.numatacenter.com default.aspx?mpid 30&productid 94&languageid 1 The sutra is still highly popular in China and Japan and in the latter is sometimes used as a focus in Naikan type introspection practices. References http venchinkung.com the filial piety sutra The Filial Piety Sutra The Deep Kindness of Parents & Difficulty in Repaying It http www.buddhanet.net e learning filial sutra.htm A translation of one version of the Sutra China lit stub Category Chinese literature Category Buddhism in China ... more details
orphan date April 2009 Perkins Loan Perkins , Stafford Loan Stafford , and other FFELP loans are subject to various loan forgiveness and cancellation programs. A portion of full time teachers student loans can be forgiven for each year teaching in low income schools, or in teacher shortage subject areas such as math, science, special education , or foreign language. There also exist programs for forgiveness of social workers and childcare workers Stafford loans, for forgiveness of law school , medical school , and veterinary school loans for professionals working for the public interest or in shortage areas of the country, and for forgiveness of Peace Corps volunteers. External links http studentaid.ed.gov PORTALSWebApp students english cancelperk.jsp?tab repaying Studentaid.ed.gov on Federal Perkins Loan Teacher Cancellation Category Education finance in the United States ... more details
The Merage family is a wealthy Iranian Jewish family residing in Orange County, California . ref http www.jewishjournal.com iranianamericanjews item photo essay iranian jews repaying alliances ref David and Paul Merage co founded the frozen microwave snack Hot Pockets , Lean Pockets, and Crossiant Pockets. He and his brother Paul Merage later sold Hot Pockets company to Nestl for 2.6 billion. ref name MIT cite web url http mitsloan.mit.edu newsroom 2008 merage.php title Special Lecture by David Merage, Entrepreneur and Co Founder, Chef America date 30 April 2008 publisher MIT accessdate 27 January 2010 ref References reflist Category Iranian Jews Category Iranian families Category American people of Persian Jewish descent ... more details
Transportation Corridor Agencies TCA are two joint powers authorities formed by the California legislature in 1986 to plan, finance, construct, and operate Orange County, California Orange County s toll road s. TCA consists of two local government agencies The San Joaquin Hills Transportation Corridor Agency which oversees the San Joaquin Hills Toll Road . The Foothill Eastern Transportation Corridor Agency which runs both the Foothill Toll Road and the Eastern Toll Road California Eastern Toll Road . The toll roads maintained by TCA are financed with tax exempt bonds on a stand alone basis taxpayers are not responsible for repaying any debt if toll revenues fall short. Some California lawmakers and toll road advocates favor using similar local agencies to build and maintain future tollways, especially after the controversy of authorizing a private company to run the 91 Express Lanes . Others oppose them, arguing that new toll roads will just facilitate and perpetuate sprawl. External links http www.thetollroads.com Transportation Corridor Agencies Category Transportation in California Category Expressway authorities Category Transportation in Orange County, California Category Southern California freeways ... more details
A repayment mortgage is a term generally used in the United Kingdom UK to describe a Mortgage loan mortgage in which the monthly repayments consist of repaying the capital amount borrowed as well as the accrued interest, so that the amount borrowed decreases throughout the term and by the end of the loan term has been fully repaid. ref name mortgagesorter http www.mortgagesorter.co.uk types uk mortgages deals repayments.html Mortgage Sorter ref This contrasts with an interest only mortgage such as an endowment mortgage or some types of balloon payment mortgage where monthly repayments are for interest, and the borrower must repay the full loan at term in a lump sum. One advantage of a repayment mortgage is that it removes the risk of having an investment as exists in an endowment mortgage , the performance of which is dependent on the stockmarket. The borrower is also less likely to suffer from negative equity because the mortgage balance will be reducing month on month. As time moves on, the equity percentage in the property increases. However, in the early years the bulk of the mortgage repayments consist of the interest component, so not much of the capital is actually paid off for some time. References Reflist See also Mortgage loan UK mortgage terminology Use dmy dates date February 2011 DEFAULTSORT Repayment Mortgage Category Mortgage Econ theory stub ... more details
Wikify date December 2010 Orphan date February 2009 Omar Bin Sulayman full name Omar Mohammed Ahamad Bin Sulayman is the former Governor of the Dubai International Financial Centre DIFC in Dubai . He has a doctorate in leadership from the United States . Citation needed date February 2007 Also, he served as the chief executive officer of Dubai Internet City 2002 2004 and then as a director general of the Dubai International Financial Centre Authority 2004 2006 before he was appointed in his current position. He led the development and launch of the first regional international financial exchange, NASDAQ Dubai formally known as the Dubai International Financial Exchange DIFX . External links http www.difc.ae press centre media relations omar bio Biography from DIFC On May 20 Omar bin Sulaiman, has been released from custody after repaying Dh51.5 million US 14m he unjustly siphoned during his tenure at DIFC, Dubai Public prosecution. Persondata Metadata see Wikipedia Persondata . NAME Sulaiman, Omar Bin ALTERNATIVE NAMES SHORT DESCRIPTION DATE OF BIRTH PLACE OF BIRTH DATE OF DEATH PLACE OF DEATH DEFAULTSORT Sulaiman, Omar Bin Category Arab people Category Living people MEast bio stub ... more details
Orphan date February 2009 Import ratio , in economics and government finance , is the ratio of total imports of a country to that country s total Foreign exchange reserves foreign exchange FX reserves. ref name Saunders cite book author Cornett, Marcia Millon and Saunders, Anthony title Financial Institutions Management A Risk Management Approach, 5th Edition year 2006 publisher McGraw Hill id ISBN 978 0073046679 ref The ratio can be inverted and is referred to as the reserves to imports ratio. This ratio divides a country s average foreign exchange reserve by a country s average monthly level of imports. ref name CIES http www.adelaide.edu.au cies papers 0302.pdf Exchange Rate Policy and Foreign Exchange Reserves Management in Indonesia in the Context of East Asian Monetary Regionalism ref Relation to sovereign risk Credit restructuring is made more likely by a higher amount of imports relative to FX reserves. A less developed country will pay for imports with its foreign exchange reserves. The more it imports the faster these reserves are used up. Since satisfying a country s needs is considered more important than repaying foreign creditors the more a country imports relative to its foreign exchange reserves the greater the probability of debt rescheduling. References reflist DEFAULTSORT Import Ratio Category Macroeconomics Category Financial ratios ... more details
Unreferenced date May 2008 Contract law Cover is a term used in the law of contracts to describe a remedy available to a merchant buyer who has received an anticipatory repudiation of a contract for the receipt of goods. Under the Uniform Commercial Code , the buyer is permitted but not required to find another source of the same type of goods. The buyer may then file a lawsuit against the breaching seller to recover the difference, if any, between the cost of the goods offered and the cost of the goods actually purchased. The possibility of cover will prevent a party from being able to sue for specific performance , which is an equitable remedy that requires the buyer have no adequate remedy at law. If the buyer is able to buy elsewhere and sue for the difference, that provides an adequate remedy. This prohibition does not apply, however, to the sale of unique goods such as original works of art, collectibles, real estate , and exclusive right s. Judge Richard Posner has suggested that the availability of cover allows for efficient breach that is, that it encourages the most efficient allocation of resources by allowing a seller to breach a contract to sell goods to one buyer when another, more lucrative opportunity comes along. The seller may thus be able to realize a sufficiently increased profit to make more money even after repaying the difference to the original buyer. Therefore, no value is lost in the transaction because the original buyer is in the same position he would have been in but for the breach, and the seller is in a better position. Category Contract law law term stub ... more details
Unreferenced date October 2008 Expert subject Philosophy date October 2008 A mirror punishment is a penal form of poetic justice which reflects the nature or means of the crime in the means of often physical punishment as a form of retributive justice &mdash the practice of repaying a wrongdoer in kind . It can be an application of the lex talionis an eye for an eye , but is not always proportional justice , as a similar method may be used to produce a worse or milder effect than the crime it retaliates . The simplest method of mirror punishment is to enact the same action upon the criminal as the criminal perpetrated upon the victim. For example, thieves have the same amount of money taken from them as they stole one who strikes another is struck in the same way one who wilfully causes another person s death is killed and so on. Often, however, a more esoteric method of mirror punishment is used, which implies punishing the part of the criminal s body used to commit the crime. Extreme examples include the amputation of the hands of a thief , as still permitted by Sharia law, or during the Middle Ages in Europe or disabling the foot or leg of a runaway slave. Other examples include the punishment of adultery adulterous women by the insertion of irritating substances into their vaginas in the past hot pokers were sometimes used . A less extreme example is putting soap into a child s mouth for using inappropriate language referred to in English as washing someone s mouth out with soap . Another method to accomplish poetic justice is to mirror the physical method of the crime, e.g. executing a murderer with his own weapon, burning arsonists alive, or in a more far fetched example, boiling a counterfeiter alive because bullion is boiled to be minted . Category Punishments de Spiegelstrafe ... more details
Unreferenced date December 2009 d k i di is the Sanskrit name of the Deccan plateau . See Bharattherium for the gondwanathere mammal, of which Dakshina is a junior synonym. Dakshina lang sa IAST dak i , the feminine of IAST wikt dak i a south, southern , but also Left Hand Path and Right Hand Path Usage in Tantra right hand side , able, dexterous, clever in the historical Vedic religion is the term for the recompense paid by the sacrificer for the services of a Vedic priesthood priest , originally consisting of a Sacred cow cow according to K ty yana rautas tra 15, L y yana rautas tra 8.1.2 . The term itself is derived from this, the feminine IAST dak i being a term for a cow able to calve and give milk a prolific cow, milch cow in the Rigveda . Dakshina is personified as a goddess along with Brahmanaspati , Indra and Soma in RV 1 .18.5 and RV 10 .103.8, and is the reputed authoress of RV 10.107 according to the Anukramani . In later literature, in the Manusmrti and in the Ramayana , the term acquires a more general meaning of thanks or a gift . Gurudakshina Gurudakshina refers to the tradition of repaying one s teacher or guru after a period of study or the completion of formal education. This tradition is one of acknowledgment, respect, and thanks. It is a form of reciprocity and exchange between student and teacher. The repayment is not exclusively monetary and may be a special task the teacher wants the student to accomplish. See also Guru shishya tradition Category Hindu traditions Category Rig Veda ru ... more details
Cash out refinancing in the case of real property occurs when a loan is taken out on property already owned, and the loan amount is above and beyond the cost of transaction, payoff of existing lien s, and related expenses. Definition Strictly speaking all refinancing of debt is cash out , when funds retrieved are utilized for anything other than repaying an existing lien. In the case of common usage of the term, cash out refinancing refers to when equity is liquidate d from a property above and beyond sum of the payoff of existing loans held in lien on the property, loan fees, costs associated with the loan, tax es, insurance , tax reserves, insurance reserves, and in the past any other non lien debt held in the name of the owner being paid by loan proceeds. Example of Cash Out Refinancing A homeowner who owes 80,000 on a home valued at 200,000 has 120,000 in equity. That equity can be liquidated with a cash out refinance loan providing the loan is larger than 80,000. The owner could use the refinance loan to pay off the original mortgage and could then pocket whatever money is left over. The total amount of equity that can be withdrawn with a cash out refinance is dependent on the mortgage lender, the cash out refinance program, and other relative factors, such as the value of the home. Related topics The opposite, Rate and term refinancing occurs when a better note rate, better loan terms, or both become available to an owner which restructures their debt portfolio as it relates to liens held against a subject property. Consolidating multiple loans into one loan without extracting cash is also a rate and term. Loan to value limits, and other factors in loan approval determine how much cash can be taken out from the equity of any one property. See also Prop. 13 California Proposition 13 1978 , United States U.S. Real estate bubble Inflation Home equity External links http www.fha.com refinance.cfm FHA Cash Out Refinance Fact Sheet Category Mortgage economics stub ... more details
Infobox nrhp name Murray, Andrew B., Vocational School nrhp type image caption location 3 Chisolm St., Charleston, South Carolina lat degrees 32 lat minutes 46 lat seconds 26 lat direction N long degrees 79 long minutes 56 long seconds 33 long direction W coord parameters region US SC type edu locmapin South Carolina area built 1923 architect Hyer, David B. architecture Late 19th And 20th Century Revivals added May 30, 2002 ref name nris NRISref 2008a ref governing body Private refnum 02000569 Refimprove date January 2008 The Murray Vocational School is located at 3 Chisolm Street, Charleston, South Carolina . The school was built by the City of Charleston and opened in 1923 as the Murray Vocational School, named in honor of philanthropist Andrew Buist Murray. Murray, who had grown up in a Charleston orphanage, financed the construction of the school as his way of repaying the city. David Hyer, a former civil engineer at the Charleston Naval yard, designed the three story, masonry and steel main building in the Neoclassical Revival style. The building s masonry facade, engaged portico, and fanlight ed doorway are all characteristic of the style. The original two story brick custodian s cottage and a circa 1950 three story gymnasium complete the facility. The school closed in 1970 and the property was used by the Charleston County School District as its offices. The building was abandoned by the school district when it completed new headquarters at 75 Calhoun St. The three buildings were restored and converted into a 27 unit condominium project in the early 2000s. The adaptive reuse was accomplished with only minimal exterior changes. The restoration of the building received a Carolopolis Award from the Preservation Society of Charleston in January 2003. References reflist National Register of Historic Places in South Carolina Category Schools on the National Register of Historic Places in South Carolina Category High schools in South Carolina Category School buildin ... more details
Retained interest also colloquially known as a payout penalty is future, currently unpaid, interest that some lenders add to the remaining Debt principal of a loan to determine a payout figure in the event that the loan is terminated before the completion of the original Time term . When two parties enter into a loan agreement, the amount of interest payable over the term of the loan is calculated and then amortized across the loan repayments. Thus, each repayment can be considered to include two parts one part repaying some of the principal of the loan, and the other paying interest. In the situation that a loan is terminated early, a portion of the interest originally calculated for that loan has not yet been paid, as this interest would have been included in the interest portion of future repayments that are no longer going to be made. Some lenders recover retain some or all of this interest by adding it to the remaining principal of the loan when calculating a payout figure. This portion of the future interest included in the early payout figure for a loan is known as retained interest. Usage in Australia Most Australia n lenders offering commercial loan facilities including chattel mortgage , hire purchase and finance lease for car s, commercial vehicle s and business equipment add retained interest to payout figures for loans that are terminated early. The amount of retained interest charged varies from lender to lender, but generally ranges from 20 to 100 of unpaid future interest. Additionally, retained interest is generally not included as a fee on the loan documents, but instead listed within the Terms & Conditions of the loan contract. External links http www.strattonfinance.com.au car finance learn articles retained interest payout penalties explained.aspx Retained interest & payout penalties explained as it applies to car finance in Australia http www.strattonfinance.com.au car finance calculators tools payout penalty retained interest calculator.aspx P ... more details
Davis Tutt 1836 July 21, 1865 was an Old West gambler and former soldier , best remembered as being killed during the Wild Bill Hickok Davis Tutt shootout of 1865, which launched the previously unknown Wild Bill Hickok to fame as a gunfighter . Tutt was born in Yellville, Arkansas , a member of a politically powerful and influential family of Marion County, Arkansas . When he was a boy, his family became involved in the Tutt Everett War , during which several of his family members were killed over the course of several years. Joining the Confederate Army in 1862, Tutt served during the American Civil War , and afterward ventured west, via Springfield, Missouri . It was while in Springfield that Tutt and Bill Hickok first met. The two became friends, and often gambled together, with Tutt often loaning Hickok money. Tutt had previously loaned Hickok money, which historian s have debated as to the amount, but it is safe to say that it was at least 25, as Hickok had stated that figure himself. It is generally agreed that the falling out between Hickok and Tutt was due to Hickok never repaying that debt, and Tutt embarrassing him by taking a watch owned by Hickok as collateral. Hickok allowed Tutt to take the watch, but warned him to never wear it in public. Hickok apparently looked on this as humiliating, whereas Tutt looked on not wearing the watch as humiliating, as it would show that he feared Hickok, which he did not. Although history has all but forgotten Tutt, while Hickok went on to be an Old West legend, Hickok at that time was an unknown, and this was his first true gunfight. The gunfight which followed, occurring on the square in Springfield, and which has since become one of the better known gunfights of the Old West, has been copied many times since by Film industry Hollywood as a model of what many think of a gunfight being. Main Wild Bill Hickok Davis Tutt shootout External links http tarlton.law.utexas.edu lpop etext ucla lubet48.htm Slap Leather, Section ... more details
DISPLAYTITLE List of Coronation Street characters 1980 CSMinor Frankie Baldwin Infobox soap character 2 series Coronation Street portrayer Sam Kydd name Frank Baldwin years 1980 82 first 1 December 1980 br Episode 2052 last 4 January 1982 br Episode 2166 wife Mary Baldwin sons Mike Baldwin Coronation Street Mike Baldwin BR Harry Baldwin grandsons Danny Baldwin br Mark Redman Coronation Street Mark Redman br Adam Barlow relatives Jamie Baldwin great grandson br Warren Baldwin great grandson death 4 July 1982 Francis Frankie Baldwin is the father of factory owner Mike Baldwin Coronation Street Mike Baldwin . Frankie is a former docker and Cockney wideboy, more so than his son. He is present on the Street between December 1980 and January 1982. He cons barman Fred Gee out of money over a wedding video scam, and conning Fred a second time also managed to con Alf Roberts out of money. The police turn up accusing Fred of distributing Pornographic film blue movies . In 1981, after repaying his debts to Fred and Alf, he turns up at son Mike s flat, apparently having come into money, with a blonde he describes as his secretary . Later that year, the blonde returns to Weatherfield to visit family and Mike asks her to accompany him to a business dinner. Some days later Frankie turns up, takes offence with Mike and leaves for London at the beginning of January in 1982. He is never seen again on the Street, but news of his death reaches Mike in July 1982, four months after the death of Sam Kydd, the actor who had played the role. Coronation Street Category Coronation Street characters , 1980 Category Fictional characters introduced in 1980 , Coronation Street Category 1980 in British television ... more details
New Craigs Psychiatric Hospital is a hospital situated in Leachkin , on the western outskirts of Inverness , Scotland . ref cite web url http www.nhshighland.scot.nhs.uk Services Pages NewCraigsPsychiatricHospital.aspx publisher NHS Highland title New Craigs Psychiatric Hospital accessdate 2009 08 22 ref New Craigs opened in July 2000, and replaced Craig Dunain Hospital and Craig Phadrig Hospital, which were both located nearby. The hospital was funded under a Private finance initiative scheme it was built and managed by Robertson Group, with NHS Highland repaying for the cost over a 25 year contract. The total cost to NHS Highland is estimated at 106 million. ref cite news title Warning over shameful PFI leases lasting generations url http www.bbc.co.uk news uk scotland 14995385 accessdate 12 October 2011 newspaper BBC News date 21 September 2011 ref ref cite news last Sweeney first Val title Controversial finance scheme back in spotlight url http www.inverness courier.co.uk News Behind The Headlines Controversial finance scheme back in spotlight 27092011.htm accessdate 12 October 2011 newspaper Inverness Courier date 27 September 2011 ref References reflist coord 57 28 12 N 4 16 5 W region GB type landmark display title Category Psychiatric hospitals in Scotland Category Hospitals in Highland council area Category Buildings and structures in Inverness Scotland struct stub UK hospital stub NHS stub ... more details
Infobox college coach name Mark McMahon birth date birth place death date sport American football Football current team current title overall record 11 7 3 awards CFbDWID 1569 player years 1898 1901 player teams Texas Longhorns football Texas player positions Tackle American football Tackle coach years 1902 1903 coach teams Oklahoma Sooners football Oklahoma Mark McMahon was the University of Oklahoma s fourth college football football coach. He coached the Sooners during the 1902 and 1903 seasons leading the team to a combined record of eleven wins, seven losses and three ties. McMahon played for the Texas Longhorns football Texas Longhorns during college. He took the coaching job to help pay off student loans he had incurred as a law student at Texas. McMahon is credited for introducing the first tackling dummy at Oklahoma. He also preferred long, hard schedules and because of that, the 1903 team played 10 of 12 games on the road. After repaying his law school debts, McMahon moved to Durant, Oklahoma in the winter of 1903 to practice law. References cite web title OU Football Tradition Head Coaches publisher SoonerSports.com date 2009 09 19 accessdate 2009 10 12 url http www.soonersports.com sports m footbl archive head coaches.html External links CFBCR 1569 Mark McMahon Oklahoma Sooners football coach navbox Persondata NAME McMahon, Mark ALTERNATIVE NAMES SHORT DESCRIPTION Football player and coach DATE OF BIRTH PLACE OF BIRTH DATE OF DEATH PLACE OF DEATH DEFAULTSORT Macmahon, Mark Category Year of birth missing Category Year of death missing Category Oklahoma Sooners football coaches Category Texas Longhorns football players UOklahoma stub ... more details
orphan date August 2010 There are a number of loan repayment options available to U.S. federal student loan borrowers, including some that are based on the borrower s income . ref http www.asa.org repay options default.aspx American Student Assistance Retrieved on June 9, 2010 ref Income Contingent Repayment ICR is available through the U.S. Department of Education for federal student loan s in the Direct Loan program DL . ICR is designed to make repaying education loan s easier for those who intend to pursue jobs with lower salaries, such as careers in Public services public service . It does this by taking the borrower s income, family size, and total amount borrowed into account when figuring monthly payment amount. The borrower s monthly payment amount is adjusted annually, based on changes in annual income and family size. ICR s maximum repayment period is 25 years. After 25 years, any remaining debt will be forgiven. Under current law, the amount of debt discharged is treated as taxable income . In addition to discharging the remaining balance at the end of 25 years, the ICR program also indirectly subsidizes the interest by including an interest capitalization cap. If the borrower s payments don t cover the interest, the unpaid interest is capitalized added to the principal once a year. However, this capitalization is capped at 10 of the original loan amount. As long as the borrower remains in the ICR program, any excess interest above the 10 threshold will not be capitalized ref http www.direct.ed.gov RepayCalc dlindex2.html Department of Education Retrieved on June 9, 2010 ref . References reflist Category Student financial aid ... more details
Cleanup date December 2008 Securities In finance , a holdout problem occurs when a Bond finance bond issuer is in Default finance default or nears default, and launches an exchange offer in an attempt to restructure debt held by existing bond holders. Such exchange offers typically require the consent of holders of some minimum portion of the total outstanding debt, often in excess of 90 , because, unless the terms of the bond provide otherwise, non consenting bondholders will retain their legal right to demand repayment of their bonds at par the full face amount . Bondholders who withhold their consent and retain their right to seek the full repayment of original bonds, may disrupt the restructuring process, creating a situation known as the holdout problem. The holdouts gamble that the restructuring will take place despite the lack of their consent, potentially leading to full repayment of their bonds, while other bondholders receive reduced payments according to the terms of the restructuring. If the restructuring does not take place, they gain nothing. The claims of the holdouts may be insignificant enough, and bothersome enough, that the issuer may satisfy them in whole simply not to be bothered. Where bondholders are widely dispersed, as is often the case, it can be difficult to contact many holders. Further, many holders of small amounts of bonds have little incentive to invest the time and energy in evaluating the terms of the exchange offer. These factors represent substantial difficulties in obtaining the minimum consent levels. Recent examples Successful litigations were undertaken by some holdout problems in Peru 1996 and Argentina 2001 . In a well known holdout case involving the sovereign bonds of Peru, the New York based vulture fund Elliot Associates L.P. obtained injunctions in Canada, Belgium, Luxembourg, Holland, Germany and the UK to prevent the Peruvian government from repaying other creditors until the hedge fund had received payment in full. T ... more details
Merge to Balloon payment mortgage date December 2010 unreferenced date May 2008 When a debt is repaid in payments of varying amounts there are some colourful jargon terms used to describe the different loan structures. The term balloon payment arises because if you hold back most of a debt and pay it only towards the end of the agreement, both those last payments and the total amount repaid are much larger. The debt is inflated like a balloon due to Compound Interest accumulating on the large sum. This is more technically known as partial amortization . A related piece of jargon is the bullet payment . When a large debt has to be repaid entirely in one big payment it can be financially crippling, making it a metaphorical bullet to the head of a company which doesn t have the cash to hand. With a bullet loan , a bullet payment is paid back when the loan comes to its contractual maturity e.g., reaches the deadline set to repayment at the time the loan was granted representing the full loan amount also called principal . Periodic interest payments are generally made throughout the life of the loan. The more usual arrangement for repaying a loan is called amortizing payment or Amortization business amortization . With amortization , portions of the principal are periodically being repaid along with the loan s interest payments until the loan matures. With full amortization , the amortization schedule has been set so that the last periodical payment comprises the final portion of principal still due. With partial amortization , a balloon payment will still be required at maturity, covering the part of the loan amount still outstanding. This approach is very common in automotive financing where the balloon payment is often calculated with respect to the value of the vehicle at the end of the financing term so the borrower can return the vehicle in lieu of making the balloon payment. Balloon payments or bullet payments are common for certain types of debt. Most Bond financ ... more details
Bartercard is a barter trade trading exchange. It is the largest in the world. Bartercard enables member businesses to exchange goods and services with other member businesses without using cash or cash equivalents, or having to engage in the direct two way swap of goods and or services. In 2007, Bartercard Australia was sold in a management buyout . Currently, Bartercard continues to operate in 6 countries Australia, New Zealand, the UK, Thailand, UAE and Cyprus . Bartercard provides members with a line of credit which they can use to make purchases immediately, saving the business owners cash. Members earn Bartercard Trade Dollars for the goods and services they sell and this value is recorded electronically in the member s account database, or goes towards repaying the credit that the member may have used. Bartercard is a major sponsor of the Bartercard Cup , the top level rugby league club competition in New Zealand, and sponsors many other business and sporting organisations. Trade exchanges require members who participate in a transaction to pay to the exchange a proportion of the nominal value of the price in cash. The rules vary, but can be seen at the websites of the exchanges. Taxation For taxation purposes, that is, for calculating taxation liability, the Australian Taxation Office ATO treats one Bartercard Trade Dollar as if it were one dollar in legal currency. It also treats other, similar, barter credits for example, EBanc, Contrabart as if each barter credit were one dollar in legal Australian currency. The revenue authorities of the Australian States treat barter credit in the same way. The Australian Taxation Office http www.ato.gov.au super content.asp?doc content 71292.htm warns the trustees of self managed superannuation funds that the acquisition of barter credits might very well cause the fund to become non complying. Similarly, the ATO states at the above site that an employer will not comply with its obligations to make contributions to empl ... more details
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