REPOSSESSION Definition

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REPOSSESSION is the action of regaining possession, e.g. the seizure of collateral securing a loan that is in default.

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SKU is an acronym for Stock Keeping Unit. It is usually used to identify an item carried in inventory or stock.

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.

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