CONDUIT DEBT Definition

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CONDUIT DEBT is issued by a state agency or public corporation on behalf of borrowers which include businesses, health care institutions, private higher education institutions, local governments, and qualified individuals (loans for higher education and housing purposes). No State credit support is provided.

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EFFECTIVE INTERNAL CONTROL is reasonable assurance that operational objectives are achieved, that published financial statements are reliably prepared, and that the entity complies with applicable laws and regulations.

DISPATCH, in shipping, is the amount paid by a vessels operator to a charterer if loading or unloading is completed in less time than stipulated in the charter party.

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