without recourse

without recourse

Giving the lender no right to seek payment or seize assets in the event of nonpayment from anyone other than the party specified in the debt contract (such as a special-purpose entity).

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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

Without Recourse Financing

Financial services; General Finance

Financing in which the right of recourse to the party receiving funds is forfeited to the party advancing funds. This may be evidenced by conditions added to the endorsement of a ...

without

Language; Dictionaries

On or art the outside; not on the inside; not within; outwardly; externally.

hardship assistance

Financial services; General Finance

A financial assistance given out in times of personal fincancial hardship, e.g. loss of job, insurance, or property.

government grants

Financial services; Accountancy; Finance; General Finance

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 ...

Buoni Ordinari del Tesoro (BOT)

Financial services; General Finance

Italian Treasury bills with maturities of three, six and 12 months, issued at a discount.

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Atlantis

An island alleged by tradition to have existed in the ocean W. of the Pillars of Hercules; Plato has given a beautiful picture of this island, and an ...