Late Payment Fee Financial Glossary
What is it? Charge to customer whose monthly payment has not been received as of the due date or stated deadline for payment, as shown on the billing statement.Finance Term Definition Added By: Kayla
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Financial Term Investment Banks is are firms that assist companies in initial sale of securities in primary market.Financial Term CRAFT is See Co-operative research project (for SMEs)
Financial Term derivatives is (1) Financial instruments whose value depends upon the values of underlying assets, interest rates, currency exchange rates, or indexes. Various authorities define derivative instruments in broad, inclusive terms or narrow, exclusive terms. It is a common misconception that all derivatives are high-risk, speculative instruments. Large financial institutions use derivatives for hedging. Options, futures, swaps, and swaptions are common derivatives used for hedging purposes. All CMOs are derivatives. There are many derivative instruments, and new ones are developed often.(2) In FAS 133, FASB defines derivatives narrowly. With some exceptions, FAS 133 defines a derivative instrument to be any financial instrument or other contract that has all three of the following characteristicsA. The financial instrument or contract has both1. One or more underlyings.2. One or more notional amounts or payment provisions or both. B. The financial instrument or contract either does not require an initial investment or requires an initial net investment that is smaller than the amount that would be required for other types of contracts that would be expected to have a similar response to changes in market factors.C. The terms of the financial instrument or contract either 1. Require or permit net settlement. 2.Provide that the contract can be readily settled net by a means outside the contract. 3.Provide for delivery or an asset that puts the recipient in a position not substantially different from net settlement. Mainly as a result of FASBs second requirement, financial instruments such as CMOs and structured notes that are commonly called derivatives are not derivatives as defined by FASB
Financial Term Mortgage indemnity insurance is A payment to a mortgage lender so they can take out insurance if you are borrowing more than a certain percentage of the value of your home.
Financial Term Money Management is The process of managing money, including investments, budgeting, banking, and taxes. Also called investment management.