Skip to main content

Recourse

By
Recourse refers to the legal right of a lender or creditor to seek repayment from the borrower, or other parties such as guarantors, if the borrower defaults on the loan…
Read More

Quick Ratio or Acid Test

By
The Quick Ratio, also known as the Acid Test Ratio, is a financial metric used to evaluate a company’s short-term liquidity, specifically its ability to meet its short-term liabilities using…
Read More

Purchase Order

By
A Purchase Order (PO) is a formal document issued by a buyer to a seller, indicating the buyer's intention to purchase goods or services. The PO outlines the specific details…
Read More

Process of Factoring

By
Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third party, called a factor, at a discount. This process allows the business to…
Read More

Prime Rate

By
The Prime Rate is the interest rate that commercial banks charge their most creditworthy customers, typically large corporations. It serves as a benchmark for various types of loans and credit…
Read More

Principal and Interest (P&I)

By
Principal and Interest (P&I) are the two primary components of most loan repayments, particularly in amortizing loans such as mortgages, auto loans, and personal loans. These payments are made regularly,…
Read More
This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.