ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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VAT Definition
VAT see VALUE ADDED TAX.
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BOND INSURANCE is insurance purchased by bond issuers to guarantee the timely payment of principal and interest, primarily for municipal bond issues. The Municipal Bond Investment Assurance Corp. (MBIA), Federal Guarantee Insurance Corp. (FGIC) and AMBAC Indemnity Corp. (AMBAC) are among the largest insurers. Insured bonds are rated AAA.
NEW DEBTOR is an entity that becomes bound as debtor by a security agreement previously entered into by another entity.
