Coordinating the Need for Funds Early in the Day with a Wire

question 18

Short Answer

Coordinating the need for funds early in the day with a wire transfer to allow disbursement of the funds later in the day.

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Definitions:

Execution

The process of enforcing a court judgment or the carrying out of a legal document’s instructions.

Guarantor

A person or entity that agrees to be responsible for another's debt or performance under a contract if the original party fails to meet their obligations.

Jointly

Involves two or more parties working together or sharing a specified obligation or liability.

Severally Liable

When individuals or entities are individually responsible for their own proportion of liability in a debt or claim, instead of being collectively responsible.