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Uniform Commercial Code (UCC) Financial Glossary

What is it? Standardized set of guidelines protected by law that set down how business transactions must be conducted.

Finance Term Definition Added By: Victoria

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Other Similar Finance Terms:

Financial Term Rate is The annual rate of interest on a loan, expressed as a percentage of 100.

Financial Term Collateral is Property pledged as security for a debt, such as real estate as security for a mortgage.

Financial Term Household Income is The total income of all members of a household. An important measure used by creditors evaluating applications for joint credit.

Financial Term effective annual yield is A seldom-used expression to refer to the yield on an investment expressed on a compound interest basis.

Financial Term Maxi ISA is A tax-free savings account in which you can invest up to 7,000 each year tax-free. You can invest either the full amount in stocks and shares or up to 3,000 in cash savings and up to 1,000 in life insurance investments.