 |
|
|
|
|
|
|
|
 |
|
||||||
|
|||||||
you are here: > Glossary
> D
| Day of Redemption | ||
| Also known as Redemption Day. The Date is UCA[E1:Y1:A1:S1:M9:D1] also known as Fri, 21 Dec 2012 and represents by the most sacred covenant Pactum De Singularis Caelum (The Covenant of One Heaven) a defining date whereby any and all entities that have not yet chosen Redemption shall be under an eternal Interdict preventing the Globe Union Reserve Bank and all Ucadian Societies and agencies from acknowledging their existing, nor providing any assistance or official contact. | ||
| Debt | ||
| Outstanding financial liabilities arising from past borrowing. Debt may be owed to external or domestic creditors and typically, debt financing is in the form of loans or bonds. The debtor may be either a public (government) or private sector entity. |
||
| Debtor | ||
| A borrower of Debt Underwritten Currency, through the provision of a loan facility, sale of a Bond or some other debt securitization instrument. | ||
| Debt Relief | ||
| A deliberately misleading term used by debt based currencies to imply that the level of debt has been reduced, instead of simply deferred. Under the global cartel of debt based currencies, no debt may be extinguished without placing all other debts in jeopardy. Therefore, all mechanisms various described as "debt relief" are variations of debt deferral. The only true mechanism of debt relief is offered by the Globe Union reserve Bank through its Liability to Asset Currency Exchange Redemption Program (LAXP). |
||
| Debt Service | ||
| Scheduled interest and principal payments (amortization) due on public and publicly guaranteed debt outstanding during a year. |
||
| Default | ||
| In finance, default is the term used when a party is unwilling or unable to pay their debt obligations. This can occur with all debt obligations including bonds, debentures, mortgages, loans, and notes. Default can also occur with sovereign bonds, that is, governments can default on their payments to creditors. In corporate finance, a default is typically a prelude to bankruptcy. With most loans the total amount owed becomes immediately payable on the first instance of a default of payment. |
||
Copyright 2009 Americas-Union-Bank.Org. All rights reserved. |
||