Terms with Category Financial Banking
- Encumbrance — Definition,
- Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
- Endorse — Definition,
- To sign the back of a cheque in order to cash it.
- Entity-Purchase Agreement — Definition,
- A plan used for businesses with multiple owners where insurance policies are taken out for each owner in the amount of their ownership stake.
- Entrepreneur — Definition,
- A person who starts and manages a business.
- Environmental Impact Statement (EIS) — Acronym,
- A government-required evaluation of how construction will affect the environment surrounding a site.
- Equifax (EF) — Company Est. 1899, Canada, Important,
- A major credit bureau company in Canada along with Trans Union.
- Equity — Definition,
- Ownership in an asset.
- The value of a property minus outstanding mortgage debt and other liens.
- Errors and Omissions Insurance — Definition,
- Insurance that protects architects, home inspectors and contractors from claims by clients for professional mistakes.
- Escrow — Definition,
- An account in which money for property taxes and insurance is held until paid. Money is added to the account every time a mortgage payment is made.
- Escrow Account (EA) — Acronym,
- An account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.
- Escrow Agent — Definition,
- A neutral third party who holds the documents and money in a real-estate transfer until all conditions are met.
- Estate — Definition,
- The ownership interest of an individual in real property.
- The total sum of all the real property and personal property owned by an individual at time of death.
- Estate Planning — Definition,
- The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
- Exchange — Definition,
- A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
- Executor — Definition,
- The person who manages the estate of a deceased individual.
- Expense — Definition,
- Costs incurred through a business's operations.
- Expensing — Definition,
- Government tax law allows individuals to expense certain business activities.
- Experian (XP) — Company, Canada,
- One of the Big Three credit bureaus, along with Equifax and Trans Union, Experian not normally used in Canada.
- Exports — Definition,
- Products and services produced in Canada and sold in other countries.
- Express Account — Definition,
- A low-fee or no-free chequing account, limited to ATM, telephone, and online transactions. Express account customers are charged fees when using bank teller services.
- Extended Warranty — Definition,
- A service contract that covers certain vehicle repairs or problems after the manufacturer's or dealer's warranty expires. Extended warranties are sold by vehicle manufacturers, dealers, and independent companies. With a new vehicle, the extended warranty must be purchased by the end of the first year of ownership.
- Face Value — Definition,
- The value of an asset, or the size of an insurance benefit.
- Fidelity Bond — Definition,
- Insurance that protects a business from losses due to employee fraud, such as theft, forgery or fraudulent trading.
- Fiduciary — Definition,
- An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
- Fiduciary Duty — Definition,
- A requirement that someone in a position of trust, such as a banker, real-estate agent, or title agent, must act in good faith and trust on behalf of a client.
- Filing Extension — Definition,
- An additional amount of time to file your return. A filing extension, however, does not give you more time to pay your taxes.
- Finance Canada — Company, Canada-wide,
- Federal department responsible for Canada's economic performance and regulation of financial institutions.
- Finance Charge — Definition,
- Charges that include all of the interest expected to be earned over the life of a loan, in addition to the service charges, mortgage insurance premiums, and other loan-related charges.
- Financing Entity — Definition,
- An entity that purchases an insurance policy or settlement contract.
- Financing Expenses — Definition,
- Expenses sustained from interest payments, financing, and dividends to shareholders.
11.
Encumbrance -
Finance Charge
Finance Charge
