THIRD PARTY RECOVERY Definition

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THIRD PARTY RECOVERY normally refers to delinquent accounts receivable recovered by a collection agency for a fee.

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OFFICIAL INTEREST RATE, normally, is the rate of interest charged by the government or traders within the money market, e.g., federal funds rate and bank repurchase agreement (repo rate).

PUTABLE BOND is a bond that contains a provision that allows the holder, or investor, a put option to tender the bond prior to maturity, generally at par. Normally a holding period, often several years, must occur before the put option may be exercised. However, the holder has flexibility, in the event interest rates go up, to tender this bond long before its normal maturity.

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