AGENCY COSTS Definition

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AGENCY COSTS is the incremental costs of having an Agent make decisions for a principal.

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FIXED INCOME is any type of investment that yields a regular (fixed) payment. For example, if you borrow money and have to pay interest once a month, you have issued a fixed income security. When a company does this, it is called a bond (although preferred stock is also sometimes considered to be fixed income). The term fixed income is also applied to peoples income which is invariant each period. This could include income derived from fixed income investments such as bonds and preferred stocks or pensions that guarantee a fixed income. See NON-FIXED INCOME.

EX-FACTORY is where a sellers responsibility ends when the buyer at point of origin, i.e., factory, accepts merchandise. This can also be written as Ex-Warehouse, Ex-works, etc.

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