Any unit or instrument generally accepted as having value to effect the purchase of goods or services, or to settle debts. All money enjoys three characteristics: (1) it is a unit of account in which values can be measured; (2) it is a medium of exchange; and (3) it is a store of value (i.e., a […]
Virtual currency is a digital representation of value that can be traded on the Internet and functions as: a medium of exchange; a unit of account; and/or a store of value, but does not have legal tender status in any jurisdiction. Virtual currency is distinguished from fiat […]
National Currency in the E-Commerce Law Fiat Currency (a.k.a. “real currency,” “real money,” or “national currency”), is the coin and paper money of a country that is designated as its legal tender; circulates; and is customarily used and accepted as a medium of exchange in the issuing […]
The risk borne by an exporter that his foreign customer may be unable or unwilling to pay for the merchandise purchased; the financial risk relates purely to commercial considerations and not to such "political" risks as expropriation or inconvertibility of currency….
Banking Definition Banking may be defined as transactions carried on by any individual or firm engaged in providing financial services to consumers, businesses, or government enterprises. In the broadest sense, a bank is a financial intermediary that performs one or more of the following […]
Bases of Government Accounting Accounting (cash basis and accrual basis) In French: Comptabilité (de caisse et d’exercice)) Government accounting is … Read more
Financial Crime Money laundering and terrorism financing are the two most common forms of financial crimes in developing countries. In … Read more
Stock Exchange Law Stock Exchange Law Stock exchange law is today a subdivision of capital markets or securities law. Its … Read more
Collateral Provider He or she is the party that is required, pursuant to the terms of the applicable credit support arrangement, to provide collateral in respect of its obligations. A Collateral Provider is refer to the transferor of collateral (under a title transfer document) or the party […]
History Annuity (from Lat. annus, a year), a periodical payment, made annually, or at more frequent intervals, either for a fixed term of years, or during the continuance of a given life, or a combination of lives. In technical language an annuity is said to be payable for an assigned […]
Tradable Permits one alternative to a pollution tax is a system of tradable pollution permits. In the international negotiations over … Read more
Bitcoin in the E-Commerce Law Bitcoin, launched in 2009, was the first decentralized convertible virtual currency and the first cryptocurrency. Bitcoins are mathematical tokens composed of unique strings of numbers and letters that constitute units of the currency and are oftentimes traded […]
Inter-American Investment Corporation (IIC) The Inter-American Investment Corporation, an affiliate of the Inter-American Development Bank based in Washington, DC, was … Read more
A commission paid to a licensed foreign freight forwarder by an ocean carrier as an inducement to route cargo aboard the carrier's vessels. This commission usually runs between 1.25 and 2.5 percent of the freight paid to the carrier, although higher commission rates are not uncommon, […]
Prime Brokerage Prime brokerage is a colloquial term for a number of different relationships between large securities dealers and banks … Read more
Credit Risk Credit Risk and Collateralization Credit risk is the danger that a firm will not receive an amount of … Read more
Alternative Trading Systems (ATSs) The alternative trading systems, with presence in many of the world’s main financial markets, were created … Read more
Collateral Asset Trends According to the International Swaps and Derivatives Association: As the use of collateral assets for credit enhancement … Read more
Collateral Dispute Dispute Collateral Call After the margin call notice has been sent, the counterparty will generally want to confirm … Read more
Non-Collateralization Collateralization of credit exposures generated by bilateral OTC Derivatives is a key risk mitigant broadly used in the market. … Read more
Cryptocurrency Cryptocurrency refers to a math-based, decentralized convertible virtual currency that is protected by cryptography, i.e., it incorporates principles of … Read more
Credit Support Credit Support Deed and English and New York Credit Support Annexes Collateral is commonly provided in respect of … Read more
Closed Virtual Currency Closed Virtual Currency in the E-Commerce Law Non-convertible (or closed) virtual currency is specific toa particular virtual … Read more
Convertible (or open) virtual currency Convertible (or open) virtual currency may be either centralized or decentralized. Convertible virtual currency has … Read more
Novation Agreement The Novation Agreement is intended to be used in cases where two parties have entered into one or … Read more
Short Sale Short Sale Concept in Financial Law A short sale is the sale of a security that the seller … Read more
Legal Personnel Legal Personnel in the United States Liability of Compliance and Legal Personnel at Broker-Dealers under Sections 15(b)(4) and … Read more
For accounting purposes, a transaction stated in terms of a currency other than the firm's functional currency. The purchase or sale of goods priced in terms of a foreign currency and the lending or borrowing of foreign funds represent such transactions….
Whistleblower Programs in the United States The SEC's whistleblower program went into effect on July 21, 2010, when the President signed into law the "Dodd-Frank Wall Street Reform and Consumer Protection Act." The same law also established a whistleblower incentive program at […]
The crime of solicitation involves encouraging, enticing, requesting, or commanding another to commit a crime. The offense is completed at the time the solicitation is made, and it does not requir…
Accountants Accountants as an U.S. State Statute Topic This term is one of the topics in some U.S. State Statutes. … Read more
A continental European term for a commodity or stock exchange….
Central Banking Role of Central Banking The foremost monetary institution in a market economy is the central bank. These are … Read more
Special Purpose Entities Definition of Special Purpose Entities Special Purpose Entities (“SPEs” ) are legal entities created -according with the … Read more