HOLDBACK Definition

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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.

Learn new Accounting Terms

NAARS is National Automated Accounting Research System.

VOSTRO ACCOUNT is a local currency account maintained with a bank by another bank. The term is normally applied to the counterpartys account from which funds may be paid into or withdrawn, as a result of a transaction.

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