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Describe how financial performance is related to the operating performance of a governmental entity.
Chattel Mortgage Agreement
An arrangement where a loan is secured by moveable personal property, which remains in the possession of the borrower.
Trust Receipt
A document issued by a bank to a buyer who has received merchandise but not yet paid for it, acknowledging that the buyer holds the goods in trust for the bank until payment is made.
Revolving-Credit Agreement
A financial agreement permitting a business or person to lend, pay back, and re-lend funds up to an approved borrowing limit.
Commitment Fee
A fee paid by a borrower to a lender to keep a line of credit open or to guarantee a loan's terms.
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