OTHER TERMS BEGINNING WITH "I"

• Illiquid Assets

  Illiquid assets refer to assets that are not easily converted into cash or traded in the market quickly without incurring significant losses in value. These assets typically have limited marketability and can take a considerable amount of time to convert…

• Import Finance

  Import finance refers to the financial services and products designed to support businesses involved in importing goods and services from foreign suppliers. Import finance provides funding, risk mitigation, and other financial solutions to facilitate the purchase, transportation, and receipt of…

• Income or Profit & Loss Statement (P&L)

  An Income or Profit & Loss Statement (P&L) is a Financial Report that shows the total revenue and total expenses over a specific period of time, usually a month, fiscal quarter or an entire year. The profit shown on the…

• Incoterms

  The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes and the Incoterms rules have become an…

• Indemnification

  Indemnification is typically an agreement in which one party agrees to protect or to hold harmless another party from financial loss or legal action.

• Ineligibles

  Ineligibles are negotiable instruments or short terms assets that a company counts as an asset, but that a lender will not count as eligible collateral. Ineligible accounts might include accounts receivable that are more than 90 days past due, contra…

• Insolvencies

  Insolvencies refer to situations in which individuals or businesses are unable to meet their financial obligations, such as repaying debts, because their liabilities (debts and other obligations) exceed their assets, or they are facing cash flow problems. Insolvency can lead…

• Inspection Certificate

  An Inspection Certificate provides proof that goods being shipping is, in fact, what the customer ordered, and is also of good quality. Many times the inspection report is from an arms-length third party inspection service. A purchase order or vendor…

• Intangible Asset

  Intangible assets are non-physical assets that lack physical substance but have economic value and represent valuable rights or privileges owned or controlled by a company. Unlike tangible assets, which can be seen and touched, intangible assets are abstract in nature…

• Intercreditor Agreement

  An Intercreditor Agreement is an agreement between one or more creditors who have shared interests in a particular borrower. The agreement spells out aspects of their relationship to each other and to the borrower so that, in the event a…

• Interest Coverage Ratio

  The interest coverage ratio is a financial metric that assesses a company's ability to meet its interest obligations on its outstanding debt. It provides insight into the company's ability to generate enough operating income to cover its interest expenses. To…

• Inventory

  Inventory or Stock refers to the goods and materials that a business holds for the ultimate purpose of resale. It is a Current Asset on the Balance Sheet. Most manufacturing organizations usually divide their "goods for sale" inventory into: Raw…

• Inventory Financing

  Inventory financing is a type of asset-based lending that allows businesses to use their inventory as collateral to secure a loan or line of credit. This financial solution is designed to provide companies with the necessary funds to purchase additional…

• Invoice

  An Invoice is a legal document listing a service delivered or merchandise shipped, the ship to name and address, the bill to name and address, the cost and terms of the sale. It is also important that the invoice reflects…

• Invoice Factoring

  Invoice Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (invoices) to a third party (called a factor) at a discount. A business will sometimes factor its receivable assets to…

• Invoice Verification Process

  You and your factor want the same thing that your customer is happy with your product or services. The invoice verification process ensures that your client is satisfied with your product or service and has the proper documentation in their…

• IRS Tax Lien

  A federal tax lien is the legal claim of the government against your property because of nonpayment or neglect of tax debt. The IRS can levy, seize and sell any type of real or personal property that you own or…