GOODS Definition

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GOODS, generally, is cargo shipped by land, sea or air. In asset-based finance, the term goods refers to equipment or inventory.

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REMIC is Real Estate Mortgage Investment Conduit. Refers to U.S. legislation, created with the Tax Reform Act of 1986, that allowed for the issuance of collateralized mortgage obligations.

GENERAL AVERAGE is the provision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.

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