ATTRIBUTABLE Definition

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ATTRIBUTABLE what the cause is, e.g. bankruptcy is primarily attributable to insufficient cash flow to support operations.

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LOAN-IN-PROCESS ACCOUNT (LIP ACCOUNT) serves as a deposit account for construction funds. The buyers down payment is deposited into this account and is used for the initial construction draws. Disbursements of actual loan funds begin once the buyers money is depleted. Interest on the borrowed funds will be billed monthly on the amount withdrawn. Upon completion of the house, the buyer will be asked to furnish a homeowners insurance policy and monies for completing the escrow account. Once final disbursements to the builder are made, monthly payments begin based on amortization of the balance at that time.

PARITY BIT is a redundant bit added to a string of bits to increase the accuracy of data transmission.

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