FINANCIAL INSTITUTION Definition

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FINANCIAL INSTITUTION is an institution (public or private) that collects funds (from the public or other institutions) and invests them into financial assets.

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PERCENTAGE LEASE is a type of lease where the landlord charges a base rent plus an additional percentage of any profits realized by the business tenant.

BANK WIRE is an electronic message network developed by an association of banks to communicate information between members of the association. It speeds and facilitates the transfer of funds and reporting of security transactions, quotes the payment and nonpayment of items and gives credit information on individuals and organizations. Unlike the Fed Wire System, it is not used to send actual payments, but rather to inform banks in the association about the movement of certain funds affecting a particular bank's account.

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