wage assignment

wage assignment

A loan agreement provision allowing the lender to deduct payments from an employee's wages in case of default.

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Part of Speech: noun
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Industry/Domain: Financial services
Category: General Finance
Company: Bloomberg
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Related terms

wage

Labor; Labor relations

Remuneration in the form of cash to individual or company for use of his/its expertise in a particular field.

assignment

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The transfer of a claim by written contract between the creditor (assignor) and the party acquiring the claim (assignee). See also blanket assignment, endorsement, undisclosed ...

assignment

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The transfer to another person of any property, real or personal.

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Awards of financial assistance in the form of money by governments to an eligible grantee with no expectation that the funds will be paid back. This does not include technical ...

bankers' acceptances (BA)

Financial services; General Finance

Sometimes known as time drafts, these are bearer-form short-term non-interest-bearing notes sold at a discount, redeemed by accepting banks for full face value at maturity.

bed and breakfast deal

Financial services; General Finance

The sale of a share and its repurchase shortly after the beginning of a new tax year. This allows shareholders to register a capital loss or profit for tax purposes while ...

Bank for International Settlements (BIS)

Financial services; General Finance

An international organization that fosters international monetary and financial co-operation and serves as a bank for central banks and international financial organizations. It ...