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However, the validity of side letters has been denied by some courts in specific circumstances. [1] Side letters are often used in financial or property transactions, or other commercial contracts. They are usually in the form of a letter signed by parties signatory to the primary contract but can also be an oral agreement.
A guaranteed investment contract (GIC) is a contract that guarantees repayment of principal and a fixed or floating interest rate for a predetermined period of time. Guaranteed investment contracts are typically issued by life insurance companies qualified for favorable tax status under the Internal Revenue Code (for example, 401(k) plans).
The financing company is likely to be represented in this discussion by either a car dealer or automotive finance broker. [6] This form of contract purchase was originally used more by businesses than individuals, but there has been steadily increasing use by consumers in countries such as the UK in recent years.
Owner financing is an arrangement in which an owner or seller, rather than a bank or mortgage lender, extends financing to a buyer. This can be a viable option for buyers who don’t qualify for a ...
Guaranteed loans are most often backed by the U.S. government, namely the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA), which back FHA loans and VA loans ...
PACE financing (property assessed clean energy financing) is a means used in the United States of America of financing energy efficiency upgrades, disaster resiliency improvements, water conservation measures, or renewable energy installations in existing or new construction of residential, commercial, and industrial property owners.