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Extraordinary redemption This redemption is different from optional redemption or mandatory redemption in that it occurs under an unusual circumstance such as destruction of the facility financed.
File unpaid invoices by payment due date to avoid missing early payment discounts and to ensure invoices are not paid late.
Org, which is the repository for municipal issuers' continuing disclosure documents. .Level debt service A debt service schedule where total annual principal plus interest is approximately the same throughout the life of the bond.Closed-end mutual fund A fund created with a fixed number of shares, which are traded as listed securities on a stock exchange.The debt service reserve fund may be initially funded out of bond proceeds, over a period of time from revenues, or by a combination of the above.Concession Fractional discount from the public offering of new securities at which the underwriter sells the bonds to dealers not in the syndicate.(AGC) Assured Guaranty Municipal (AGM) Build America Mutual (BAM) cifg Financial Guaranty Insurance Company (fgic) mbia Insurance Corp.Verify a vendor exists when an invoice is received from a new vendor.The amount is calculated by multiplying the interest of the bond by its face the discount watch store value.Economic indicators together provide a picture of the overall health of an economy or economic zone and how bond prices and yields might be affected.Receive Documentation, most purchase transactions have three documents, the purchase order, the vendor invoice, and the receiving report, sometimes referred to as a GRN or goods received note.Bond year An element in calculating average life of an issue and in calculating net interest cost and net interest rate on an issue.Yield to worst This is the lowest yield generated, given the potential stated calls prior to maturity.
Inverse floater A CMO tranche that pays an adjustable rate of interest that moves in the opposite direction from movements in a representative interest rate index such as the London Interbank Offered Rate (libor the Constant Maturity Treasury (CMT) or the Cost of Funds Index.
Policy, the business should have well documented policies and procedures on accounts payable internal controls to ensure that all staff understand the accounts payable process.