international legal guarantees
111defects liability period — A period following practical completion (usually six or 12 months) during which the building contractor retains liability under the building contract for dealing with any defects which manifest themselves. Also known as a rectification period.… …
112Land Registry — There are various public registries that hold records showing matters which affect property and need to be searched before acquiring an interest in property. These include the Land Registry and the Land Charges Registry. It is also common to make …
113on demand bond — bonds that impose a primary contractual obligation on the issuer to pay a specified sum of money on the happening of a specified event or events. The bond is normally expressed to be payable on demand or on your first demand and the buyer is… …
114performance bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. performance bond n …
115performance guarantee — See performance bond. Related links Bonds, guarantees and standby credits: overview …
116SLC — See standby letters of credit. Related links Bonds, guarantees and standby credits: overview …
117subordinated debt — Debt that is unsecured and/or ranks for interest and repayment after the senior debt of a company. Subordinated debt may rank below senior debt in the following ways: • Repayment of principal. The more senior the debt, the earlier it will be due… …
118fronting fee — England, Wales In the context of syndicated credit facilities, the fee payable by the borrower to the fronting bank for the credit risk the fronting bank takes on the syndicate lenders counter indemnifying it pro rata to their participation in… …
119national savings products — England, Wales Savings and investment products offered by the UK government to the general public. Savers are lending money to the UK government to finance spending, and the government guarantees to repay it (with interest where applicable). For… …
120over-the-counter derivative — over the counter (OTC) derivative USA A derivative product not traded on any organized, regulated exchange. OTC derivatives are customized, bilateral, privately negotiated contracts, which, as a result, can be illiquid as compared to standardized …
