Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

ULTIMATE CONSIGNEE

Intended shipment recipient that is not the agent or bank where it is consigned to for purpose of delivery.

UNCLAIMED BALANCE

Money in an inactive bank account that after 5 years is considered an abandoned account and property goes to the state under escheat laws. See dormant bank account.

UNDERINSURED MOTORIST COVERAGE

Section of an automobile insurance policy covering damage caused by another insured motorist with insufficient money to pay damages.

UNDERWRITING FEE

Fee charged by mortgage lender’s to verify loan application information and to make the final decision on loan approval.

TAX WAIVER

Document issued by the state specifying that the tax department will transfer stock as it has indicated.

TEASER RATE

Low interest rate or a high interstate to entice customers to take up the offer.

TED SPREAD

Treasuries Over Euro Dollar Spread. Wall Street term applied to the gap existing between interest rates on US securities and dollar deposits held outside of the US.

TEMPER

Characteristic of metal to do with hardness and stiffness. See tempering.

TENDER OF PAYMENT

An offer that is without conditions to pay a debt that is lieu of the actual payment.

TEXT TYPE

Serif type face chosen to be legible in small sizes.

THIRD-PARTY INSURANCE

Liability insurance bought by an insured from the insurer to protect against claims from another party.

TIME BAR

Stoppage put on exercising a claim or judgment after a period that was established by a law or custom.

TIME PERIOD CONCEPT

Concept of accounting where a firm’s operating cycle is divided into separate accounting periods that can be reported on in a manner that is timely.

TOKEN RING NETWORK

Single channel, high speed base band local area network or LAN architecture eliminating problems of colliding data by using packets, called tokens, of control messages.

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