ARREARS is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.
HOLDBACK is a portion of a construction loan that is not funded until the subject project is nearing completion, or the borrower has satisfied certain contractual performance requirements, such as leasing a majority of the space in the building. The amount held back is often equal to the construction firms projected profit when the building is completed.
WARRANTY is a guarantee given to a buyer from a seller that the goods or services purchased will perform as promised, or a refund will be given, repair will be done at no charge, or an exchange made.
Enter a term, then click the entry you would like to view.