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Journal articles on the topic 'Repayment obligations'
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1
Adam, Klaus, and Michael Grill. "Optimal Sovereign Default." American Economic Journal: Macroeconomics 9, no. 1 (January 1, 2017): 128–64. http://dx.doi.org/10.1257/mac.20140093.
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When is it optimal for a fully committed government to default on its legal repayment obligations? Considering a small open economy with domestic production risk and noncontingent government debt, we show that it is ex ante optimal to occasionally deviate from the legal repayment obligation and to repay debt only partially. This holds true even if default generates significant deadweight costs ex post. A quantitative analysis reveals that default is optimal only in response to persistent disaster-like shocks to domestic output. Applying the framework to the situation in Greece, we find that optimal default policies suggest a considerably larger and more timely default than the one actually implemented in the year 2012. (JEL E23, E62, F41, H63)
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Mironova, A. N. "IMPROVEMENT OF METHODOLOGICAL TOOLS FOR FINANCIAL REHABILITATION OF INDUSTRIAL ENTERPRISES." Strategic decisions and risk management, no. 4 (October 25, 2014): 74–80. http://dx.doi.org/10.17747/2078-8886-2013-4-74-80.
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A methodology for developing a financial rehabilitation plan and a debts repayment schedule is presented, which may be applied during the procedure of financial rehabilitation of an organization engaged in the industrial sector. The structure of the financial rehabilitation plan and a template of the debts repayment schedule for industrial enterprises is presented, a developed algorithm with the formulae for calculation of precedence of repayment of the creditor’s demands in the form of a flowchart is presented, a formula for calculation of the total amount of the due debt is adjusted, and the feasibility of developing the financial rehabilitation plan is substantiated, whether or not the obligations performance is secured.
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Solner, Anna. "Instytucja udzielania ulg w spłacie zobowiązań z tytułu należności wynikających ze zwrotu środków europejskich." Prawo 322 (July 6, 2017): 89–100. http://dx.doi.org/10.19195/0524-4544.322.7.
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The institution of granting tax relief in the repayment of obligation resulting from the European funds refundThe purpose of this article is to indicate principles of granting tax relief in the repayment of obligations resulting from the European funds refund based on the administrative resolution given by the administrative body in cases when European funds disbursed as part of operational programmes were used contrary to its intended purpose, with violating procedures, charged undue or in the excess height. The article distinguishes three types of tax relief: redemption in one piece or in part, postponing the repayment and spreading in instalments. It determines detailed principles of granting tax break for beneficiaries of not drivers of the business activity as well as for entrepreneurs, granted at the request of the beneficiary, as well as ex officio. The article is defining premises of granting these concessions i.e. the important interest of the taxpayer or the public interest. It is clarifying the principles of basing the administrative resolution on the administrative recognition and in case of entrepreneurs with reference to tax relieves constituting the state aid. The institution of granting concessions in the repayment is the exception from the principle of the universality and the equality of regulating these obligations. Irrespective of the entity initiating proceedings, relief can be granted only where justified, within the limits closely defined by the law. Granting it constitutes privilege of the beneficiary more than a rule.
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Ahn, Hyun-Soo, Derek D. Wang, and Owen Q. Wu. "Asset Selling Under Debt Obligations." Operations Research 69, no. 4 (July 2021): 1305–23. http://dx.doi.org/10.1287/opre.2019.1961.
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We extend the classical asset-selling problem to include debt repayment obligation, selling capacity constraint, and Markov price evolution. Specifically, we consider the problem of selling a divisible asset that is acquired through debt financing. The amount of asset that can be sold per period may be limited by physical constraints. The seller uses part of the sales revenue to repay the debt. If unable to pay off the debt, the seller must go bankrupt and liquidate the remaining asset. Our analysis reveals that in the presence of debt, the optimal asset-selling policy must take into account two opposing forces: an incentive to sell part of the asset early to secure debt payment and an incentive to delay selling the asset to capture revenue potential under limited liability. We analyze how these two forces, originating from debt financing, will distort the seller’s optimal policy.
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Габов, Андрей, and Andrey Gabov. "Billholder Rights in the Reorganization of a Legal Entity." Journal of Russian Law 4, no. 6 (May 30, 2016): 0. http://dx.doi.org/10.12737/19765.
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Reorganization of a legal entity entails significant risks for creditors. To reduce risks, the law (article 60 of the RF Сivil Сode) vests the lenders with special rights. When a legal entity makes the decision about its reorganization, the creditor has the right to demand early performance of obligations, and in case of impossibility of early performance – to require the termination of obligations and compensation for losses. The application of this general rule to the creditors, whose rights are based on the bill, faces a problem: the Regulation on bills and notes of 1937 (article 43) does not mention reorganization as grounds for early repayment of the bill. In the present paper, the author proves that the bill holders have the rights envisaged by article 60 of the RF Civil Сode. The author analyzes the problems in case of bill presentation for repayment.
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Husain, Aasim Mairaj. "Forgiveness, Buybacks, and Exit Bonds: An Analysis of Alternate Debt Relief Strategies." Pakistan Development Review 27, no. 4II (December 1, 1988): 819–28. http://dx.doi.org/10.30541/v27i4iipp.819-828.
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The 1980s have seen the issue of Third World debt rise to prominence as one of the foremost concerns for economic policy-makers. The foreign indebtedness of many developing countries has risen to such high levels that the casual observer is forced to wonder if the debt will ever be paid back. Many scholars are now arguing that the debt obligations of some of the most heavily indebted countries (HICs)are so large that they act as a severe disincentive to investment. These disincentives, in turn, reduce growth rates in the HICs, thereby making future repayments even less likely. Many explanations for the onslaught of the debt crisis have been offered. The late Seventies and early Eighties saw a rapid rise in interest rates as well as an equally rapid deterioration of the terms of trade of many HICs. Many sovereign debtors, which had been excellent investment opportunities for creditor banks, were suddenly insolvent. Low output shocks further exacerbated repayment possibilities. Faced with the possibility of non-payment, creditors entered into rescheduling negotiations with sovereign borrowers. These rescheduling have involved bargaining over the amount of repayment that will be made.
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Valls Martínez, María del Carmen, and Salvador Cruz Rambaud. "Loan Transactions with Random Dates for the First and Last Periodic Instalments." International Journal of Mathematics and Mathematical Sciences 2016 (2016): 1–14. http://dx.doi.org/10.1155/2016/2152189.
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Usually, loan transactions contracted in practice are nonrandom; that is to say, all amounts received (principal) and paid (period instalments) by the borrower are previously agreed with the lender, as well as their respective dates. In this paper, two new alternative loan models are introduced, depending on whether the borrower survives or not to fulfil all repayment obligations. In this way, either the initial or the final date of repayments can be subject to this contingency. Additionally, the different parameters of such random transactions are determined, as well as several measures of profitability/cost for the lender/borrower, respectively. These transactions can be attractive for both the lender and the borrower, which therefore make them worthy of consideration and subsequent implementation for the benefit of both parties.
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Nadtochii, Igor' Olegovich, and Roman Petrovich Trukhan. "Emergence of the category of “accessority” and historical peculiarities of its reception in Russian civil law." Юридические исследования, no. 5 (May 2021): 1–15. http://dx.doi.org/10.25136/2409-7136.2021.5.35572.
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The subject of the article is the examination of evolution of the institution of accessory obligations and its gradual “infiltration” into Russian law. The author reviews the genesis of the category of “accessority” in Roman law, within the framework of which its initial formula “the validity of the accessory legal relationship is predetermined by the validity of the basic legal relationship" gained widespread. Description is given to the peculiarities of evolution of accessority in Russian law. In civil law of pre-revolutionary Russia, accessority was being neglected for a long time. In the Soviet period, the identification of the terms “security obligation” and “accessory obligation” established in civil science. Currently, in Russian law, the concept of “accessority” is identified with the security obligation. The conclusion is made on versatility of the category of “accessority”. In the course of the development of law, the concept of accessory obligations undergone significant changes – from perception of accessority as a certain obligation that ensures the repayment of debt and the transfer of “belonging” to the sold goods towards its identification with security obligations as a whole. With time, the opinion that accessority is attributed to different types of obligations with own features and specifics, has established in the legal doctrine. The relevance of the selected topic is defined by a range of problematic questions, which have not been previously covered in Russian civil science. Thus, the legislation of the Russian Federation does not contain a legal definition of the concept of accessory obligations. The civil law doctrine also does not have a unanimity of opinion on the matter. The authors assume that the established situation, namely in the context of the civil legislation that has been fundamentally reformed in 2012 – 2015, does not contribute to unified understanding of the essence of accessory obligations and optimization of their doctrinal interpretation.
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Johnstone, D. Bruce. "Conventional Fixed‐schedule versus Income Contingent Repayment Obligations: Is There aBestLoan Scheme?" Higher Education in Europe 34, no. 2 (July 2009): 189–99. http://dx.doi.org/10.1080/03797720902867377.
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Bolotov, Maksim Viktorovich. "The problems of fulfilling the obligations of a bankrupt debtor by a third party within the framework of personal bankruptcy procedure." Право и политика, no. 9 (September 2020): 56–64. http://dx.doi.org/10.7256/2454-0706.2020.9.33880.
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This article is dedicated to the problem of fulfillment of obligations of a bankrupt debtor by a third party within the framework of personal bankruptcy procedure and the possibility of application of rules set for legal entity debtors. Research is conducted on the need to maintain not only certain sequence of actions of the third party, arbitration administrator and the court, but also the question of proof of origin of funds. Each year brings a growing number of personal bankruptcy cases, prompting the growing need for application of norms on fulfillment of obligations of a debtor by a third party. Within the framework of personal bankruptcy institution there are no such norms, while the law enforcement practice demonstrates a need for norms on fulfillment of obligations of debtors by third parties in the context of the procedure of debt restructuring and liquidation of property. The rules established by the Articles 113 and 125 of the Bankruptcy Law can be applied in resolution of the question of repayment of personal debts by a third party. At the same time, in addition to adherence to the formal order of repayment requirements, it is necessary to examine the question of the source of funds received by the third party.
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Rakhaev, Valery Alexandrovich. "Modern approaches to evaluating and selecting methods of servicing difficult loan debts." Vestnik of Astrakhan State Technical University. Series: Economics 2019, no. 4 (December 16, 2019): 104–11. http://dx.doi.org/10.24143/2073-5537-2019-4-104-111.
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The article suggests the significant proportion of bad debt to be one of the main problems of the modern bank lending system in Russia. In banking practice, the debt of borrowers is considered problematic if there is a delay in the principal debt and / or interest during 60 calendar days or more (the last 180 calendar days). The presence of bad debt requires creating reserves for possible losses on loans, which can reduce the financial result and the loan portfolio quality
of banks, so paying off bad loans is an urgent task for commercial banks. There is no single algo-rithm for choosing the best way for debt repayment. There has been analyzed the research of evaluating the value of claims and calculating the maximum amount of debt repayment. The factors determining the existing structure of problem debt repayment in banks have been investigated; factors
of assessing the effectiveness of debt repayment by concluding assignment contracts have been considered. The author's approach to calculating the financial result and cash flow under different ways
of fulfilling the obligations of borrowers has been proposed. The calculations and comparison of variants to pay off a debt of a specific borrower on the basis of a financial model have been made. Due to the divergence of cash flows, the assignment of claims to the bank is found the preferred method for debt repayment. It has been stated that the assignment of claims has several advantages over other methods of debt repayment: it helps to save the lender from the costs related to the repayment of bad loans; from the need to reserve additional funds provided for compensation of possible losses; replenishment of working capital, partial coverage of their losses, improvement of official statistical indicators by reducing the share of problem loans; concentration on their business.
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Mozharova, V. A., and T. M. Lavrik. "The Role of Mortgage Loans in the Procedure of Insolvency (Bankruptcy) of an Individual." Pravo: istoriya i sovremennost', no. 1(14) (2021): 054–61. http://dx.doi.org/10.17277/pravo.2021.01.pp.054-061.
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Bankruptcy refers to the procedure for declaring an individual or legal entity financially insolvent. To launch this procedure, it is necessary to fulfill clearly regulated conditions concerning the volume of debt obligations, the duration of their default and the insufficiency of assets for the full repayment of creditors' claims. The analysis of the grounds for starting the bankruptcy procedure associated with the mortgage lending procedure is presented.
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Charles, Goodluck, and Neema Mori. "Loan repayment performance of clients of informal lending institutions." International Journal of Development Issues 16, no. 3 (September 4, 2017): 260–75. http://dx.doi.org/10.1108/ijdi-04-2017-0039.
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Purpose The purpose of this article is to examine the effects that dynamic incentives and the borrowing histories of clients of informal lending institutions have on loan repayment performance, in particular, the extent to which multiple borrowing and progressive lending affect the repayment of loans. Design/methodology/approach The paper uses a data set of 835 borrowers drawn from an informal lending institution in Tanzania. Descriptive analysis and econometric models are used to test the developed hypotheses. Findings Whereas clients with multiple loans are associated with poor loan repayment, progressive lending contributes to positive repayment outcomes. Multiple borrowers face increased debt levels and thereby an increased inability to meet their repayment obligations; in contrast, progressive lending by building up a lender–client relationship helps clients to obtain higher loans with a minimum amount of screening. Research limitations/implications This was a cross-sectional study based on a sample of individual clients drawn from a single institution. However, since the majority of clients had also taken out loans with other financial institutions, the sample is considered to be representative. Practical implications A client’s past repayment performance and multiple loan history must be assessed so that multiple borrowing can be prevented and credit absorption capacity can be gauged more accurately. The repeated nature of the interactions and the threat to cut off any future lending (if loans are not repaid) can be exploited to overcome any information deficit. Originality/value This study was conducted in a context in which the degree of information sharing was low and institutional access to clients’ credit histories was limited. It contributes knowledge on how lenders minimise the risk flowing from the ex ante information gap and moral hazards arising from the ex post information gap.
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Zdrenyk, Vasyl. "Formation of an effective policy for the repayment of accounts receivable at the enterprise." Herald of Ternopil National Economic University, no. 4(98) (February 20, 2021): 127. http://dx.doi.org/10.35774/visnyk2020.04.127.
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Introduction. Trade enterprises in modern conditions have significantly increased the volume of their activities. However, the uncertainty of the external environment and the presence of a number of different problems in the economy as a whole create obstacles to the timely fulfillment of obligations. This necessitates the formation of an effective policy for the repayment of accounts receivable at the enterprise.Objective. The objective of the article is to substantiate the theoretical foundations and develop practical recommendations for the formation of an effective policy for the repayment of receivables at trade enterprises.Methods. To establish the stages of the formation of the policy of repayment of receivables and its constituent elements, analytical empiricism was used with an orientation to the existing initial conditions and foreign experience. The study used the method of assessment and generalization to develop and substantiate proposals aimed at solving the problem of recognizing receivables as uncollectible, as well as to substantiate the approach to the classification of reserves and the calculation of reserves for doubtful debts.Results. A conceptual approach to the formation of an effective policy for the repayment of accounts receivable from trade enterprises has been formed. The study substantiates that the effective development of a trading enterprise is possible due to the combination of such important components of its activities as a good information base of management and an effective policy for repayment of receivables. The result of the study is also the substantiation of the stages of formation of the policy of repayment of receivables, the development of proposals for its assessment and the formation of reserves for doubtful debts.Discussion. A promising area of further research is the development of methods of analysis of receivables by actual indicators, the study of opportunities to improve communication and the formation of information support for trade and technological processes based on the use of modern information systems.
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Ulst, Ingrid. "Electronic Retail Lending in Estonia: Legal Limits on the Cost of Credit." Review of Central and East European Law 35, no. 3 (2010): 257–91. http://dx.doi.org/10.1163/157303510x12650378240359.
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AbstractIn 2009, a legal limit to the annual percentage rate of charge (APRC) was established in Estonia. The limit is 'soft' in its nature, allowing a lender to opt to exceed it; simultaneously, however, the burden of proof is placed on the lender who argues that such a lending transaction should not be declared void on the ground on the basis of being contrary to good morals. This article examines the legal function of the APRC limit and addresses the legal problems with regard to the nature and extent of the burden of proof; it also makes suggestions as to how lenders could comply with their legal obligation in respect of the burden of proof when engaging in their daily practice of electronic retail lending. The legal function of an APRC limit, which is linked to the market of consumer credit, is to reduce the willingness to conclude credit agreements in which mutual obligations are unreasonably out of balance. The author suggests that identifying the extent of the lender's burden of proof could be based on the principles of reasonableness and effectiveness. Accordingly, the lender would be reasonably expected to use due care to ensure the understanding and willingness of the borrower with regard to the lending transaction, and be convinced about the repayment ability of the borrower. The principle of effectiveness implies that, at a minimum, the extent of the lender's burden of proof should include the identification of a borrower profile and, furthermore, that due care should be exercised in such identification. As there are no legal directions about the meaning of 'due care' or the details of 'profile identification' in lending, the author suggests applying the analogy of law (e.g., the provisions of the 2001 Estonian Securities Market Act). On this basis, electronic retail lenders could attempt to identify the purpose of a loan, prior lending experience, education, profession, income, assets and obligations, payment discipline and repayment sources of the borrower in order to design good practices which, in turn, should assist lenders to comply with the obligations deriving from the legal limit of the APRC.
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Borys, Grażyna, and Renata Manacka. "Creating consumer protection law vs. responsible borrowing on the consumer loan market." Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia 53, no. 3 (November 28, 2019): 25. http://dx.doi.org/10.17951/h.2019.53.3.25-32.
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<p>Responsible borrowing means a thorough reflection on the need to become indebted, full transfer of true information affecting creditworthiness, comprehensive analysis of the credit agreement, and refraining from avoiding the repayment of loan obligations. The main purpose of the article is to verify the hypothesis that Polish legislators make only the lenders fully responsible for excessive borrowing on the consumer loan market. The following research methods were used: critical analysis of the subject literature and economic analysis of the respective legal provisions. On the basis of the analyses conducted, areas were identified in which the legislator should use the appropriate legal instruments stimulating responsible borrowing. Among them the following were listed: the consumer's obligation to prove the absence of overdue payments and the consumer’s notification of becoming acquainted with the terms of the loan agreement.</p>
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Locke, Erin, Frank Dong, Robert Stiles, Rick Kellerman, and Elizabeth Ablah. "The Influence of Loan Repayment and Scholarship Programs on Healthcare Provider Retention in Underserved Kansas." Kansas Journal of Medicine 9, no. 1 (January 7, 2019): 6–11. http://dx.doi.org/10.17161/kjm.v9i1.8594.
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Background. In an effort to redistribute healthcare providersto underserved areas, many states have turned to financialincentive programs. Despite substantial research on theseprograms on a national scale, little is known about the successof such programs in Kansas. The purpose of this studywas to provide insight into the relationship between financial incentive programs and provider retention in Kansas.
Methods. A cross-sectional telephone survey was conducted inApril and May of 2011 with participants who had completedtheir obligations to the Kansas State Loan Repayment Program(SLRP), the National Health Service Corps (NHSC) Loan Repaymentprogram, or the National Health Service Corps Scholar shipprogram in Kansas between January 2006 and January 2011.
Results. Of the 112 providers included in the study, 54.4% (n = 61)had left their program sites sometime after finishing their commitment,with the mean length of stay after the obligation periodended being 7.3 (median = 3) months. Of the 54 participants whohad left their program sites and whose current locations wereknown, 33.3% (n = 18) were located in new Health ProfessionalShortage Areas (HPSA), 25.9% (n = 14) were in a new non-HPSA,and 40.7% (n = 22) had left the state. Family satisfaction with thecommunity and attending a professional school in Kansas wereassociated statistically with retention of physicians in Kansas.
Conclusions. Nearly half of all participants had remained attheir sites even after their obligation period ended, with familysatisfaction with the community appearing to be the strongestpredictor for retention among those who had stayed.Efforts to match a provider’s family with the community successfullyand to support the family through networking mayimprove future provider retention. KS J Med 2016;9(1):6-11.
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Kelhoffer, James A. "Reciprocity as Salvation: Christ as Salvific Patron and the Corresponding ‘Payback’ Expected of Christ's Earthly Clients according to theSecond Letter of Clement." New Testament Studies 59, no. 3 (June 10, 2013): 433–56. http://dx.doi.org/10.1017/s0028688512000380.
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This article analyzes the widely misunderstood concept of ‘payback’ or ‘repayment’ (ἀντιμισθία) that, according to the so-calledSecond Letter of Clement, believers owe to Christ. Much of the secondary literature is laden with theological polemics (e.g. the author perverts Paul's gospel of grace), rather than an attempt to understand this concept relative to social relationships in antiquity. I argue thatSecond Clementpresents Christ as salvific benefactor and patron. Christ offers salvation to those who accept the terms of his patronage, terms that include the obligation to render ‘payback’—for example, in the form of praise, witness, loyalty, and almsgiving. A failure to accept these terms would jeopardize the relationship between Christ and his earthly clients and thus call their salvation into question. As a corollary, I propose that a likely purpose forSecond Clementwas to convince a Christian audience that the benefits of salvation come with recurring obligations to Christ, their salvific patron.
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Harris, Edward M. "Apotimema: Athenian Terminology for Real Security in Leases and Dowry Agreements." Classical Quarterly 43, no. 1 (May 1993): 73–95. http://dx.doi.org/10.1017/s0009838800044190.
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When entering into a legal agreement, it is not unusual for one of the parties to ask the other to provide some security so as to ensure that the latter's obligations under the agreement will be fulfilled. There are two basic forms of security, personal and real. In personal security for a loan, the borrower arranges for a third party to come forward and to promise the lender that he will fulfil the borrower's obligations in the event that the borrower does not make interest payments or repay the principal. In real security, the borrower pledges some of his property, either movable or immovable, as security to the creditor. If the borrower defaults, the creditor has the right to seize the property pledged as security, and, if he wishes, to sell it for cash in lieu of repayment.
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Moran, Kate A. "Neither justice nor charity? Kant on ‘general injustice’." Canadian Journal of Philosophy 47, no. 4 (2017): 477–98. http://dx.doi.org/10.1080/00455091.2016.1251811.
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AbstractWe often make a distinction between what we owe as a matter of repayment, and what we give or offer out of charity. But how shall we describe our obligations to fellow citizens when we are in a position to be charitable because of a past injustice on the part of the state? This essay examines the moral implications of past injustice by considering Immanuel Kant’s remarks on this phenomenon in his lectures and writings. In particular, it discusses the role of the state and the individual in addressing the problem.
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Усоский, В. Н. "КРИПТОВАЛЮТА КАК АБСТРАКТНОЕ ОБЯЗАТЕЛЬСТВО И УСЛОВИЕ ЭМИССИИ БАНКОМ КРЕДИТНЫХ ДЕНЕГ." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 4 (December 15, 2018): 52–57. http://dx.doi.org/10.32620/cher.2018.4.08.
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Formulation of the problem. The article is devoted to a comparative analysis of the essence of cryptocurrency and fiduciary money in the context of the historical prerequisites for the emergence of an abstract obligation as a condition for issuing credit money. The aim of the research is to characterize the cryptocurrency as an abstract obligation and condition for the issuance of credit money by the bank. The object of the research is the process of forming cryptocurrency as an abstract obligation and the conditions for issuing credit money by a bank. The methods used of the research: logical, comparison, modeling, induction and dudection methods. The hypothesis of the research. Cryptocurrency does not have the universal property of measuring the value of economic goods, as it is a passive measured object. To assess the beneficial effects of market benefits in the international market, hard money is needed. The statement of basic materials. Money in the article is presented not as universal unconditional bank obligations and requirements for repayment, but as a “number in the database”. Bank operations are reduced to keeping money for someone who essentially increases the number in the database, debiting and crediting it and making a payment. Originality and practical significance of the research consists in substantiating the miner who produces cryptocurrency as a digital commodity asset for sale in the commodity market. The identification of the economic nature of cryptocurrency is relevant for the purposes of its legal legalization in the economy of Belarus and the search for its adequate legal and regulatory definition in the legal system. Conclusions of the research. Credit money is used in the deferred payment function. At the same time, physical movement of inventories between subjects is not necessary, since property rights are moving in the form of universal unconditional financial requirements and obligations.
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Liang, Yunping, and Baabak Ashuri. "Option Value of Contingent Finance Support in Transportation Public–Private Partnership Projects." Transportation Research Record: Journal of the Transportation Research Board 2674, no. 7 (June 12, 2020): 555–65. http://dx.doi.org/10.1177/0361198120923668.
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Uncertainties about construction cost and operational revenues are two major risks in transportation public–private partnership (P3) projects. These uncertainties put projects at risk of being unable to fulfill annual debt repayment obligations. When a project generates insufficient cash flow to service the debt in a certain year, it normally has to go for short-term financing by borrowing short-term loans. With the help of revenue risk-sharing mechanisms, supported projects may be able to get rid of unexpected interest disbursement. The objectives of this paper are twofold: ( 1 ) evaluate the refinancing cost of P3 highway projects caused by cash flow shortage; and ( 2 ) critically examine the option value of contingent finance support and compare it with the option value of minimum revenue guarantee on saving refinancing cost for debt repayment. An integrated real options valuation model is created that utilizes utility method for pricing the technical project risk (e.g., construction cost overruns), and utilizes a risk-neutral option pricing method for pricing the market risk (e.g., future traffic). The proposed model has good transferability in relation to involving various risk factors, no matter technical risks or market risks, random variables or random processes. The proposed model helps stakeholders better understand and measure the burden of assuring annual debt repayment under uncertain cash flow. The stakeholders can use the proposed model to evaluate the value of the revenue risk-sharing mechanisms on reducing refinancing cost.
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ZHMURKO, Irina M. "Financial and Legal Prospects for the Use of Government Bond Loans in Modern Conditions." Journal of Advanced Research in Law and Economics 10, no. 3 (June 30, 2019): 971. http://dx.doi.org/10.14505//jarle.v10.3(41).37.
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The purpose of the study is to identify positive aspects of expanding the use of government bond loans. The paper also focuses on theoretical concepts of the ratio of taxes and loans, analyzing the advantages and disadvantages of government bond loans to determine their impact on the decisions of the issuer and the investor. Consideration of foreign experience in the use of bond loans allows identifying common features and aspects to improve the legal regulation of this institution in Russia science and practice.
The results of the research consist of summarizing the studied material and describing the prospects for the development and use of government loans as a tool of financial and legal policy. The experience of foreign countries proves that it is possible to determine the legal nature of a government bond loan through the prism of regulating a new institution – the issue obligation.
Conclusion: it is advisable to adopt a normative legal act that would systematize the form of government debt, contain general rules for the use of certain types of borrowing and mechanisms for servicing and repayment of debt, and provide other guarantees, principles of compensation, ways to restructure debt obligations, as well as a mechanism for interaction of public authorities in this area with clear regulation of the powers of public authorities and sanctions for late performance or non-performance by the issuer of its obligations.
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Basten, Stuart, Raya Muttarak, and Wiraporn Pothisiri. "“The Persistence of Parent Repayment” and the Anticipation of Filial Obligations of Care in Two Thai Provinces." Asian Social Work and Policy Review 8, no. 2 (February 21, 2014): 109–22. http://dx.doi.org/10.1111/aswp.12028.
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Vatansever, Metin, and Ibrahim Demir. "A Segmentation Study of Non-Performing Loans Rates in Turkish Credit Market." International Business Research 10, no. 11 (September 29, 2017): 29. http://dx.doi.org/10.5539/ibr.v10n11p29.
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Non-performing loans (NPLs) rate is one of the main risks in commercial banks and is also a critical measure of the bank’s financial performance and stability. Banks meet the growth rate of NPLs when the debtors are not able to meet their financial obligations in terms of repayment of loans. Regional diversification can impact NPLs rate as well as macroeconomic and bank-specific factors. The purpose of this study is to detect homogeneous credit risk groups by geographical locations. Diversification across regions can help banks and financial institutions to determine appropriate market areas and identify effective diversified investment strategies by reducing the overall risk of the credit portfolios.
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Saija, Ronald. "Perlindungan Kreditur Atas Pailit Yang Diajukan Debitur Dalam Proses Peninjauan Kembali Di Pengadilan Niaga." SASI 24, no. 2 (February 28, 2019): 114. http://dx.doi.org/10.47268/sasi.v24i2.126.
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Legislation Number 34 of 2007 concerning Bankruptcy and Postponement of Obligations of Debt Payments is not fully complete in order to protect the rights of creditors, in connection with the dispute of PT. Golden Adishoes has no clarity about repayment in full if it turns out that the debtor's assets are insolvent is not enough to pay all of his debts, indirectly the creditor is required to accept the fact that all of his debts will not be repaid in full by bankrupt debtors without any actions and what solutions can be made by the creditor before the bankruptcy application is filed by the bankrupt debtor to the Commercial Court.
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Dmowski, Artur. "LAW REGULATION OF CALCULATION OF THE INDIVIDUAL DEBT RATIO OF LOCAL GOVERNMENT UNIT." International Journal of Legal Studies ( IJOLS ) 8, no. 2 (December 31, 2020): 283–92. http://dx.doi.org/10.5604/01.3001.0014.6371.
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The aim of the considerations is focused on the analysis of the law regulation of calculation of the individual debt ratio of local government unit. The new rules governing debt limits were introduced in 2014 (Articles 242-244 of the Act on Public Finance, hereinafter referred to as APF) and immediately became a major difficulty in planning and managing local finances in territorial self-government units. The next four years proved many defects and inconveniences in implementing new norms, while “creativity” of the financial sector of local authority units demonstrated that they were quite easy to evade. The structure of the maximum ratio limiting obligations due to titles specified by the lawmaker, due in a particular year, is closely related to the provisions of APF. For the first time it was used in evaluating the budgets passed for 2014. The essence of this legal regulation consists in comparing two ratios, presented in form of an equation (formula). In order to pass the budget local authorities need to obtain a relation in which the left side of the formula (annual debt repayment ratio) is lower than or equal to the right side (maximum debt repayment ratio) (Act of Public Ginance).
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Link, Nathan W., Kathleen Powell, Jordan M. Hyatt, and Ebony L. Ruhland. "Considering the Process of Debt Collection in Community Corrections: The Case of the Monetary Compliance Unit." Journal of Contemporary Criminal Justice 37, no. 1 (November 12, 2020): 128–47. http://dx.doi.org/10.1177/1043986220971394.
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Monetary sanctions levied on individuals on probation and parole may dramatically influence their ability to reintegrate into the community and to complete their community supervision. Yet very little work has empirically assessed how agencies respond to these obligations. This is critical, given that individuals under community supervision occupy a liminal space: free in the community yet often at risk of violation, rearrest, additional fines, or re-incarceration. In this article, we introduce an approach to the collection and management of monetary sanctions by an adult probation and parole agency in one Pennsylvania county. This specialized department focuses solely on repayment of fines, fees, and costs for a subset of probationers and parolees who have completed all other supervision requirements. We complement the conceptual overview by presenting administrative data on this caseload ( N = 5,811) to describe the population under supervision and assess the factors associated with debt amount, having difficulty with repayment, and being the subject of an enforcement action for non-payment. We conclude with a discussion of the advantages and disadvantages of this model compared with historical and other existing models of debt enforcement during community supervision.
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Quaye, Frederick Murdoch, Denis Nadolnyak, and Valentina Hartarska. "Factors Affecting Farm Loan Delinquency in the Southeast." Research in Applied Economics 9, no. 4 (December 27, 2017): 75. http://dx.doi.org/10.5296/rae.v9i4.12165.
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This study examines the factors and behaviors that affect Southeast US farmers’ ability to meet their loan repayment obligations within the stipulated loan term. The study uses a 10-year (2003-2012) pooled cross-sectional data from the USDA ARMS survey data (Phase III). A probit approach is used to regress delinquency against various borrower-specific, loan-specific, lender-specific, macroeconomic and climatic variables for the first part.The results show that farmers with larger farms, farmers with insurance, farmers with higher net income, farmers with smaller debt to asset ratio, farmers with single loans and those that take majority of their loans from sources apart from commercial banks are those that are less likely to be delinquent. Temperature and precipitation also affect outcomes, but by minute magnitudes.
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Sarira, Iron. "Aspek Hukum Pemenuhan Hak Tenaga Kerja terhadap Implementasi Keputusan Pailit Suatu Badan Usaha Sesuai Asas Keadilan." Humaniora 2, no. 2 (October 31, 2011): 1173. http://dx.doi.org/10.21512/humaniora.v2i2.3168.
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The worker is the weaker party in terms of worker-employee relationship system. The problem that often arises in the event of bankruptcy decision issued by the judiciary is the ignorance of labor rights. As we know that termination of employment (layoffs) may be conducted by the employer in accordance with article 165 of Law Number 13 Year 2003 on Manpower, which is when the company is closed due to creditors’ law suit on unpaid credit within a specified time and therefore stating bankruptcy. Employers who are declared bankrupt by a competent judge shall settle all obligations, including in this case, paying workers' compensation regulations. In practice, the curator, the official havint the authority to calculate the company's assets can be invited to cooperate in terms of the repayment obligation, and they rather put the assets of the creditor's rights in front of workers’ rights. The receiver and or parties related to tend to prioritize the interests of the group more than the fulfillment of labor rights as compensation from the bankruptcy decision occurs. Whereas Article 95 Paragraph (4) of Law No. 13 of 2003 has stated that labor rights should come first before completing the receivables of the creditors.
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Fauzi, Ahmad. "Legal Satisfaction for the Creditors to Obtain a Return of the Credit From the Debtor." Budapest International Research and Critics Institute (BIRCI-Journal) : Humanities and Social Sciences 3, no. 1 (February 10, 2020): 428–36. http://dx.doi.org/10.33258/birci.v3i1.788.
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In the process of granting credit by the bank to the debtor, a careful analysis has been done, but in the implementation there are often many factors that can cause the debtor to become unable to repay the credit received. So as to guarantee repayment of credit given to the debtor, the bank asks for a guarantee from the debtor in the form of property or personal collateral. In accordance with the nature of the collateral, the collateral in the form of land and buildings is generally preferred by banks because the value tends to be stable in the long run. Thus, it is necessary to have a regulation governing the guarantee of assets in the form of land and buildings so that an ease and certainty is obtained for the bank in obtaining repayment of loans given to debtors if in the future the debtor is apparently unable to repay these obligations. It is necessary to create a strong guarantee institution and be able to provide legal certainty for all parties with an interest in providing credit by banks, the government has enacted and enforced it. to impose Mortgage Rights cannot be withdrawn or cannot be terminated by any reason except because it has been implemented or has expired. The provisions are intended so that the encumbrance of the Underwriting Right is actually implemented so as to provide legal certainty for the holder and the giver of the Underwriting Right.
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Namayengo, Faith, Johan A. C. Van Ophem, and Gerrit Antonides. "Women and microcredit in rural agrarian households of Uganda: Match or mismatch between lender and borrower?" Applied Studies in Agribusiness and Commerce 10, no. 2-3 (August 1, 2016): 77–88. http://dx.doi.org/10.19041/apstract/2016/2-3/9.
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The alignment of microfinance programs with the context and expectations of the recipients is critical for ensuring clients’ satisfaction and desired program outcomes. This study sought to investigate the extent to which the objectives and design of the BRAC microfinance program match the expectations, context and characteristics of female borrowers in a rural agrarian setting in Uganda. Quantitative and qualitative methods were used to obtain socio-demographic, personality and microenterprise (ME) characteristics of existing borrowers, incoming borrowers and non-borrowers and to obtain information about the microcredit program. We found that BRAC uses a modified Grameen group-lending model to provide small, high-interest rate production loans and follows a rigorous loan processing and recovery procedure. BRAC clients are mainly poor subsistence farmers who derive income from diverse farming and non-farm activities. The major objective to borrow is to meet lump-sum monetary needs usually for school fees and for investment in informal small non-farm businesses. Many borrowers use diverse sources of funds to meet repayment obligations. Defaulting on loans is quite low. The stress caused by weekly loan repayment and resolution of lump-sum cash needs were identified as reasons for women to stop borrowing. The limited loan amounts, the diversions of loans to non-production activities, the stages of the businesses and the weekly recovery program without a grace period may limit the contribution of these loans to ME expansion and increase in income.
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Nanang Qosim. "Transaksi Jual-beli dalam Bentuk Khusus." Asy-Syari’ah : Jurnal Hukum Islam 4, no. 2 (June 10, 2018): 185–202. http://dx.doi.org/10.36835/assyariah.v4i2.108.
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Abstract: Sale-purchase order in Islamic fiqih is called as-salam or as-salaf. Terminologically, the fiqh scholars issue it by: Offer of goods which the delivery is postponed, or sell goods that are distinct with early payment of capital, while the goods are the day of payment.Bay 'al-wafa' Etymologically, al-bay 'means buying and selling, and al-wafa' the meaning of repayment / settlement of obligations. Bay'al-wafa 'is a form of transaction (akad) which emerged in Central Asia (Bukhara and Balkh) in the middle of the 5th century Hijriyah and spread to the Middle East.The word ihtikar The origin of the word hakara which means az-zulm (persecution) and isa'ah al-mu'asyarah (social damage). With ihtakara scales, yahtakiru, ihtikar, this word means stockpiling to wait for soaring prices
Keywords: Sale-purchase Orders, Bay 'al-Wafa' and Ihtikar
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Povarova, E. S. "AUDIT OF CALCULATIONS WHEN USING COMPENSATION OPERATIONS." Vestnik of Samara State University of Economics 2, no. 196 (February 2021): 60–66. http://dx.doi.org/10.46554/1993-0453-2021-2-196-60-66.
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In a difficult economic situation, with an unfavorable influence of external or internal factors, organizations can use compensation operations. In the course of the audit, the auditor should comprehensively consider not only the compensation transactions, but also identify the reasons for such repayment of obligations by the audited debtor or obtaining the performance of obligation by the audited creditor. Compensation transactions may indicate to the auditor a certain aspects of the audit that need special attention. However, this requires effective tools for conducting verification of these operations in the form of working document formats and descriptions of the stages of verification of compensation operations. The purpose of the study is to present an algorithm for conducting an audit of compensation transactions in the course of conducting an audit, indicating the stages and use of audit procedures, as well as to propose working documents for conducting an audit. The used research methods are the grouping and systematization of information, the method of logical generalization, comparative and factor analysis. The article presents an algorithm for checking compensation transactions, considers the tax aspect of the features of compensation accounting, and provides the format of a working document when checking compensation transactions - both in the accounting of the debtor and the creditor. The above algorithm and working documents provide a methodological basis for conducting an audit.
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Chen, Yvonne Jie, Zhiwu Chen, and Shijun He. "Social Norms and Household Savings Rates in China." Review of Finance 23, no. 5 (September 11, 2018): 961–91. http://dx.doi.org/10.1093/rof/rfy029.
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Abstract We study the effects of Confucian social norms on savings rates in China. In our simple two-period model, parents have the option to invest in either a risk-free asset or their children’s human capital. We assume that the filial piety norms and thus the enforcement mechanisms for supporting old-age parents differ across regions. Consequently, the probability of children’s non-performance of their repayment obligations to parents and the returns parents can expect from investing in their children vary. We test the model predictions using data from the China Household Finance Survey. We find that stronger Confucian social norms reduce the gap in the savings rate between families with sons and with daughters. Modeling default by children as a function of the prevailing social norms gives us the flexibility to study the impacts of declining Confucian influence on consumption–savings trends in China.
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Ahrendsen, Bruce L. "The global financial crisis: Implications for capital to agribusiness." Applied Studies in Agribusiness and Commerce 6, no. 1-2 (June 30, 2012): 59–62. http://dx.doi.org/10.19041/apstract/2012/1-2/7.
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The global economy has continued to experience lingering effects of the global financial crisis that began in 2007. Although attention was initially given to the liquidity crisis and survival of some the world’s largest corporations and institutions, the financial crisis is likely to have long-lasting implications for agribusiness. As the world slowly recovers from the crisis, another round of problems are emerging as governments and international institutions attempt to unwind the positions they took in an effort to prevent the global economic bubble from bursting. Perhaps the most problematic factor for businesses is access to capital in sufficient amounts and at affordable rates. Governments and institutions, particularly in the United States (U.S.) and the European Union, have increased their financial obligations as the result of activities taken to curtail the economic crisis. These financial obligations and the associated financial risks place pressure on financial markets and tend to restrain the availability of capital and increase the cost of capital for businesses. However, the U.S. agricultural credit market has not experienced problems to the same extent as general business (commercial and industrial) and real estate credit markets have. In general, U.S. farm businesses have a strong balance sheet, adequate repayment capacity, sufficient amount of assets to offer collateral for loans, and reasonable profits. Thus, U.S. farm businesses have had an ample supply of credit at relatively low interest rates.
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Damayanti, Ratih. "THE STATE POSITION AS A PREFERENT CREDITOR OF THE TAX DEBT IN BANKRUPTCY." Journal of Private and Commercial Law 2, no. 1 (June 28, 2018): 65–77. http://dx.doi.org/10.15294/jpcl.v2i1.14514.
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Bankruptcy is a decision issued by the Court that resulted in a general confiscation of all the wealth owned and the wealth that will be owned by the debtor in the future. The State has the preference right to tax debt on the property of the Taxpayer. This means that the position of the state as a preferent creditor who is declared to have prior rights over the property of the Taxpayer to be auctioned in public. The state's preference by taxpayer repayment is in fact not as easy as one might imagine, there are some problems. The purpose of article writing is to know the position of the State as a preferent creditor for the tax debt of the taxpayer declared bankrupt and know the obstacles of the State as a preferent creditor to the repayment of tax debt on taxpayers declared bankrupt. Provisions on the State's prior rights include the principal taxes, administrative sanctions in the form of interest, penalties, increases, and tax collection fees. The weakness in the regulation creates an impediment to the application of the State as a preferential creditor who has the preference right, namely the formulation of the preference right itself that is unclear about the notion of the state's position as the preferent creditor, in addition to the overlapping regulation of the preference right (preferent creditor) The Civil Code, the Law on General Taxation and Bankruptcy Laws and Postponement of Debt Payment Obligations which not only the State as the Preference rights holder's creditors.
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Allam and Jones. "Climate Change and Economic Resilience through Urban and Cultural Heritage: The Case of Emerging Small Island Developing States Economies." Economies 7, no. 2 (June 21, 2019): 62. http://dx.doi.org/10.3390/economies7020062.
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While the topic of climate change is of global importance and has global consequences, the context is far more dangerous for emerging economies, including small island developing states (SIDS) and their coastal cities. The literature supports the need for robustness in infrastructural dimensions of such economies. However, the preparatory economic aspects have been overlooked in favour of post-impact disaster management studies by many countries. The latter studies have also focused upon the need for heavy financial investments without investigating solutions for economic strengthening of those economies including climate change mitigation and affordability. As such, emerging SIDS economies have struggled to meet these obligations from their internal finances that draw predominantly from tax revenue sources and foreign aid thereby often leading to increased debts contributing to economic austerity and decreasing liveability levels when repayment commitments fail. Public-private partnerships (PPP), another sought-after loan strategy, which often attracts foreign direct investment (FDI), can work if PPPs are carefully designed within strict public monitoring criteria. However, their applicability needs to be expanded to include the wider social strata of a city to ensure inclusivity and cohesiveness, and formulated to contribute to a wider urban regeneration agenda. This paper proposes a more inclusive framework bridging governance with drivers for sustainable development, using urban heritage and culture as a strategic thread for debt repayment and economic empowerment through PPP. This paper seeks to inform policymakers on sustainable pathways as it relates to SIDS cultural heritage conservation policies and practices towards better economic resilience in the wake of climate change.
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Świrgoń-Skok, Renata. "ACCESSIO (AKCESJA) W TERMINOLOGII RZYMSKIEGO PRAWA PRYWATNEGO." Zeszyty Prawnicze 8, no. 2 (June 25, 2017): 37. http://dx.doi.org/10.21697/zp.2008.8.2.02.
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The ‘accessio’ (accession) in the Terminology of Roman Private LawSummaryThe term accessio (accession) in the terminology of Roman private law did not only denote union and confusion of things. It was a very general term used for defining various cases of property acquisition through union, growth of property, and it determined addition of a new obligation to an old one or addition of a supplementary contract, person or object to the obligation.In the Roman Law literature the term accessio is predominantly used for union of two things in accordance with the principle accessio cedit principali, i.e. the increase falls to the share of the principal.Moreover, the term accessio also denoted adding the duration of ownership of an object by the predecessor (accessio possessionis) or simply adding the duration (accessio temporis). In the sources for the Roman Law accessio temporis and possessionis are used interchangeably for determining specific actual states, which resolve issues connected with accession of ownership duration of the predecessor to the ownership duration of the last owner. Similarly in lexicons, accessio temporis is presented as a synonym of accessio possessionis. The aforementioned accession of ownership duration [of the predecessor by his successor under specific title was permissible with interdict aimed at protection against infringement of ownership of movable objects (interdictum utrubi), with prescription (usucapio) and charge of long time ownership (longi temporis praescriptio).Furthermore, accession also meant accessio personae that is addition of a person, i.e. additional creditor who, beside the principal creditor, could collect repayment of debt from debtor (adstipulator), or a person who additionally, beside the principal debtor, pledged to the creditor to repay the debt (adpromissor), or it is addition of a new obligation to an old one by means of contract of guaranty (fideiussio). With accessio personae, similarly to union of things in accordance with the principle of accessio cedit principali, there had to be two things, one of them determined as principal and the other - additional. Obviously, here occur two obligations, one treated as principal, and the other as additional or accessory.Moreover, accession also means accessio rei, that is addition of new article of service to obligation, that the debtor could render alternatively with the previous, which was possible with alternative obligation (obligatio alternativa) and alternative authorization (facultas alternativa).
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Aliaj, Erjola. "The main roles of bankruptcy administrator in Albanian Bankruptcy Law." European Journal of Social Sciences Education and Research 3, no. 1 (April 30, 2015): 127. http://dx.doi.org/10.26417/ejser.v3i1.p127-131.
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The bankruptcy procedure in Albania is governed by Bankruptcy Law No.8901 dated 23 May 2002, as amended. This law establishes non-discriminatory and mandatory rules for the repayment of the obligations by debtors in a bankruptcy procedure and ensures an adequate, reliable and effective mechanism for the reorganization or liquidation of a commercial company that is facing financial difficulties. Moreover, this law intervenes not only in the procedural rights of creditors towards insolvent debtors, but also in the material contractual and property rights of the persons, who had a legal relation with the insolvent debtor before and or/after the bankruptcy procedure has started. The administrator plays a fundamental role in the bankruptcy procedure. The latter is given heuristic, determined, regulatory and managerial powers in Albanian Bankruptcy Law. This paper provides an analysis of the main roles of bankruptcy administrator in Albanian Bankruptcy Law, such as control and distribution of bankruptcy estate, use or disposal of property, role in executor contracts, and contest of transactions.etc.
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ROTHERHAM, CRAIG. "CHARGES OVER CUSTOMERS' DEPOSIT ACCOUNTS." Cambridge Law Journal 57, no. 2 (July 1998): 235–73. http://dx.doi.org/10.1017/s000819739830001x.
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A Bank that wishes to advance money to a customer who has an account in credit may wish to utilise that credit balance as security for the loan. Similarly, a bank might find it advantageous if a third party who is guaranteeing a loan has an account in credit at the bank so that, in the event of the principal debtor's failure, the bank is in a position to set-off any sums outstanding on the loan against its own obligations to repay the surety. Surety arrangements of this kind provided the background for two test cases examined in Re Bank of Credit and Commerce International SA (No. 8) [1997] 3 W.L.R. 909. The bank had given loans to companies secured by arrangements pursuant to which third parties with deposit accounts at the bank (the “depositors”), first, purported to grant charges over those accounts, and secondly, accepted that they were not entitled to repayment until the loans had been repaid in full.
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Hofmann, Christian. "The Role of Deposit Insurance in Bank Resolution." Journal of Financial Regulation 6, no. 1 (March 20, 2020): 148–58. http://dx.doi.org/10.1093/jfr/fjaa002.
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Abstract Deposit Insurance Schemes (DIS) are mechanisms that reimburse depositors when banks default; however, they also serve important functions in bank resolution proceedings. Whereas it is evident that DIS should contribute to the rescue of banks’ critical financial functions in such resolution scenarios, the resulting questions of who should benefit from their payments and whether these payments result in any repayment obligations have so far remained unaddressed. In response to these questions, the article suggests distinguishing between scenarios in which banks’ critical financial functions are transferred to other institutions and scenarios in which the critical financial functions remain with recapitalized banks. The latter is the more complex situation because it leads to the survival of the bank in resolution and raises the question of hierarchies among several groups of contributors to recapitalizations. The article argues for a subordinate role for DIS in these hierarchies and suggests that DIS payments should lead to holdings of Tier 2 regulatory capital in recapitalized banks.
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BUTARBUTAR, Elisabeth Nurhaini. "Implementation of Good Faith Principle as an Efforts to Prevent the Business Disputes." Journal of Advanced Research in Law and Economics 11, no. 4 (June 15, 2020): 1131. http://dx.doi.org/10.14505//jarle.v11.4(50).07.
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This study seeks to analyze the principle of good faith as a preventive measure in business disputes by comparing international perspectives on good faith and regulations in Indonesia. This study was conducted with normative means that in analyzing data used by observing the applicable regulations, logical means in analyzing the data always uses logic and should not conflict between one data with another data. Systematic means, in analyzing analyzed data must remain in the applicable legal system. The study results show that the implementation of the principle of good faith in a credit contract can prevent business disputes, if the terms and achievements/obligations that arise in the contract are formulated in a balanced way between the interests of the bank and the consumer so that the wishes agreed upon in the contract are truly realized and desired by the debtor and the right of the lender to collect the credit repayment can be fulfilled in accordance with goodwill.
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Smagina, M. N., M. V. Kryukova, and V. A. Komarova. "Аnalysis and control of accounts payable at small business." Entrepreneur’s Guide 14, no. 3 (July 7, 2021): 143–52. http://dx.doi.org/10.24182/2073-9885-2021-14-3-143-152.
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Large companies can afford to maintain a staff of financial analysts who study financial indicators using the most modern estimation and predictive methods. Small businesses usually experience financial difficulties and do not have such opportunities. For him, in connection with the above, there is an urgent need to develop reasonable and fairly simple methods for evaluating the results of managerial and economic activities. Analytical research of the existing accounts payable and its ratio to the accounts receivable allows us to assess the real state of finances. The study of the company’s obligations, and primarily accounts payable, is of particular importance for the purpose of management. The optimal one is not the complete absence of debts from a market entity, but the presence of an optimal amount of accounts payable. The main indicator is the timeliness of its repayment. In this case, borrowed funds contribute to the development of production. Overdue accounts payable generates illiquidity, the insolvency of a market entity.
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Dobridge, Christine, Rebecca Lester, and Andrew Whitten. "IPOs and Corporate Taxes." Finance and Economics Discussion Series 2021, no. 058 (September 7, 2021): 1–75. http://dx.doi.org/10.17016/feds.2021.058.
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How does going public affect firms’ tax obligations and tax planning? Using a panel of U.S. corporate tax return data from 1994 to 2018, we compare tax payments for firms that completed an IPO with those that filed for an IPO but later withdrew and remained private. We find that in the years immediately following IPO completion, firms have a higher probability of paying taxes and pay more U.S. tax. The effects occur regardless of tax status in the pre-IPO period and are not explained by statutory limitations imposed on the use of pre-IPO losses. Higher income reported for financial reporting purposes, as well as lower interest deductions attributable to debt repayment, contribute to the increased tax payments. These increases are partially offset by higher tax deductions for post-IPO investment and employment spending. Furthermore, the IPO is associated with increased tax planning through foreign tax haven use. The evidence adds to the nascent literature examining corporate tax implications of the IPO decision.
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Melnychuk, Liubov. "The Conceptual Principles of Relations Between Romania and the European Communities (1980ʼs - early 1990ʼs)." Історико-політичні проблеми сучасного світу, no. 37-38 (December 12, 2018): 174–89. http://dx.doi.org/10.31861/mhpi2018.37-38.174-189.
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The author investigates the deepening of relations between Romania and the European Communities during the 1980ʼs and early 1990ʼs. It was established that the deepening and development of relations with the EEC influenced Romania ambiguously, however, in general, in the early 1980's, it contributed to its economic upsurge. N. Ceausescu pursued a policy of intensive industrialization of the CPR, in order to transform Romania into a powerful state of the region, which was associated with the improvement of relations with the European Communities.
Taking into account the insolvency of Romania, it has been shown that, the threat of interference in internal affairs has led to Bucharest's policy of austerity saving since 1982 for early repayment of debts. It is concluded that although Romania freed itself of financial obligations in 1989, but ignoring the needs of the domestic market put Romanian society at the brink of poverty and humanitarian catastrophe, which created the preconditions for the overthrow of the N. Ceausescuʼs regime.
Keywords: Romania, European Communities, European integration, N. Ceausescu, I. Iliescu
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DOVE, JOHN A. "Financial markets, fiscal constraints, and municipal debt: lessons and evidence from the panic of 1873." Journal of Institutional Economics 10, no. 1 (August 20, 2013): 71–106. http://dx.doi.org/10.1017/s1744137413000234.
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Abstract:The current paper explores the municipal debt crisis that resulted from the panic of 1873, which caused a significant number of local governments in the United States to default on their debt obligations. The aftermath of that episode was one of constitutional change meant to constrain municipal governments from pursuing similar activities in the future. This paper empirically investigates the impact that these restrictions had on municipal borrowing costs, analyzed from bond yield data taken from several major US financial markets, so as to evaluate how binding and significant markets actually perceived these constraints to be. Overall, the results suggest that borrowing costs were lower for municipal governments that faced more stringent creditor guarantees regarding the issuing and repayment of debt, hard budget constraints, and also strict debt limits, while tax limits generally increased borrowing costs. These results not only conform too much of the current literature regarding the political economy of institutional constraints on public finance, they also add several important insights, especially when comparing defaulting to non-defaulting municipalities.
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Resmini, Wayan, Abdul Sakban, and Ni Putu Ade Resmayani. "PENYULUHAN TENTANG PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG TERHADAP PERJANJIAN SEWA MENYEWA." SELAPARANG Jurnal Pengabdian Masyarakat Berkemajuan 3, no. 2 (May 10, 2020): 176. http://dx.doi.org/10.31764/jpmb.v3i2.2198.
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ABSTRAKPemberian pinjaman oleh Kreditur kepada Debitur didasarkan pada asumsi bahwa Kreditur percaya bahwa Debitur dapat mengembalikan utang tepat pada waktunya. Pelunasan utang oleh Debitur kepada Kreditur tidak selalu dapat berjalan dengan lancar ada kalanya Debitur tidak membayar utangnya kepada Kreditur walaupun telah jatuh tempo. Debitur yang tidak mampu melunasi utangnya, maka harta kekayaan Debitur dikemudian hari menjadi jaminan atas utangnya.Pasal 1131 dan Pasal 1132 KUH Perdata telah mengatur secara khusus mengenai hal utang piutang. Pengabdian pada masyarakat ini dilakukan di kecamatan Mataram Barat, kota Mataram Nusa Tenggara Barat. Karena lokasi ini berada di pusat kota Mataram, maka mobilitas perekonomian sangat tinggi, oleh karena transaksi yang berhubungan dengan masalah utang piutang sangat memungkinkan terjadi. Untuk itu masyarakat perlu diberikan penyuluhan yang berhubungan masalah tersebut. Adapun yang menjadi tujuan dalam kegiatan ini yaitu sebagai berikut: Untuk mengetahui pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Untuk mengetahui akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Metode yang dipergunakan adalah penyuluhan dan tanya jawab. Pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa diatur dalam Pasal 222 ayat (3) UU No. 37 Tahun 2004, Kreditur yang memperkirakan bahwa debitur tidak dapat melanjutkan membayar utang-utangnya yang sudah jatuh tempo dan dapat ditagih, dapat memohon agar kepada debitur diberi penundaan kewajiban pembayaran utang, untuk memungkinkan debitur mengajukan rencana perdamaian yang meliputi tawaran pembayaran sebagian atau seluruh utang kepada Krediturnya.Akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa yaitu debitur tidak dapat melakukan tindakan kepengurusan atau memindahkan hak atas sesuatu bagian dari hartanya, jika debitur melanggar, pengurus berhak melakukan segala sesuatu untuk memastikan bahwa harta debitur tidak dirugikan karena tindakan debitur tersebut. Debitur tidak dapat dipaksa membayar utang-utangnya dan semua tindakan eksekusi yang telah dimulai guna mendapatkan pelunasan utang, harus ditangguhkan dan Debitur berhak membayar utangnya kepada semua kreditur bersama-sama menurut imbangan piutang masing-masing. Kata Kunci: Penundaan kewajiban; hutang; sewa menyewa. ABSTRACTA loan is given based on the assumption that the Creditor believes the Debtor can return the debt on time. Debt repayment might not always run smoothly. There are times when the Debtor does not pay his debt even though it is the due date. Debtors who are unable to repay their debts have a risk that their assets will become collateral for their debts in the future. Article 1131 and Article 1132 of the Civil Code have individually regulated the matters of debt payable. The community service is carried out in the sub-district of West Mataram, the city of Mataram, West Nusa Tenggara. Transactions related to debt and debt problems are highly possible here because this location is the center of the city of Mataram, and the mobility of the economy here is immoderate. For this reason, the public needs counseling related to the problem. The objectives of this activity are as follows: To find out the arrangements regarding the postponement of debt payment obligations to the lease agreement and to find out the legal consequences of the postponement of debt payment obligations to the lease agreement. The method used is counseling and group interview. The regulation concerning the postponement of the obligation to pay the debt to the lease agreement is regulated in Article 222 paragraph (3) of Law no. 37 of 2004 states that the Creditor who estimates that the Debtor cannot continue to pay his/her debts which are due and cannot be billed may request a debt obligation delay to enable the Debtor to submit a composition plan which includes offering partial or full payment of the debt to Creditors. Due to the legal delay of debt payment obligations under the lease agreement, the Debtor cannot take management actions or transfer the rights to any part of his/her property. If the Debtor violates, the management has the right to do everything to ensure that the Debtor's assets are not harmed because of the Debtor's actions. Debtors cannot be forced to pay their debts, and all execution actions that have been initiated in order to obtain debt repayment must be deferred, and the Debtor has the right to pay his debts to all creditors together according to their respective accounts. Keywords: Deferred liability; debt; rent.
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Subandi, Anak Agung Ngurah Dharma Bayu, Anak Agung Sagung Laksmi Dewi, and Ni Made Puspasutari Ujianti. "Sanksi Adat terhadap Krama Desa yang Melakukan Wanprestasi dalam Pengembalian Kredit Pada Lembaga Perkreditan Desa di Desa Adat Kapal." Jurnal Interpretasi Hukum 1, no. 2 (September 26, 2020): 24–29. http://dx.doi.org/10.22225/juinhum.1.2.2429.24-29.
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Banks as credit providers should trust their customers within the agreed period of repayment of all credit that has been submitted. In practice, many customers do not fulfill the promised time to repay their loans. For various reasons, Default is caused the debtor's lack of awareness of his binding obligations. This study aims to determine the factors that lead to default in returning credit at the Desa Adat Kapal credit institution, and to determine the settlement of default in returning credit at the Desa Adat Kapal credit institution. The type of research used is the type of empirical research, where this research is carried out in accordance with the real situation of a community group or the surrounding environment in order to find facts or existing legal problems. The results of this study indicate that the factors causing non-performing loans in general are that all loans carry a high risk. Non-performing loans are loans that contain weaknesses or do not meet the quality standards set by the bank. Then, the settlement of defaults according to custom at the Ship Traditional Village Credit Institution is based on Article 8 of the Traditional Ship Village Credit Institution agreement.
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Sirovatkin, S. A., and T. S. Hudima. "Object of legal relations of crediting in foreign currency." Legal horizons, no. 21 (2020): 52–57. http://dx.doi.org/10.21272/legalhorizons.2020.i21.p52.
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In the article presents the systematization of legal and scientific approaches to the composition and characteristics of foreign currency lending entities. It was opened and analyzed the scientific approaches and views of the legislator on this issue in order to distinguish a generalized definition of this aspect. It is established that at the present stage of development of scientific thought and legal support there is no unified approach to the separation of the main composition of objects of legal relations of the specified category. It is revealed that the civil law takes into account the basic values of credit relations (the allocation of objects such as cash and interest on the loan), but in other regulations there is no reference to their exhaustive list, which complicates the definition of characteristics and features of this phenomenon. Based on the research of scientific and legislative approaches, the classification of features and types of legal relations objects in the sphere of foreign currency lending is formulated. The following main features and types of objects of legal relations in the sphere of foreign currency lending are distinguished, namely: 1) a specific feature according to which the foreign currency cash provided by the lender to the borrower under the credit agreement is distinguished; 2) the value attribute, which provides for the allocation of the principal amount of the borrower's obligations and the interest on them specified in the credit agreement; 3) an obligatory sign (a reference to the obligation on the part of the lender to provide a loan of this category, and the obligation on the part of the borrower to pay the loan and interest thereon); 4) a sign of reversal caused by the characteristics of repayment of principal and interest on the loan; 5) an additional feature of foreign currency conversion, which allows to distinguish the object of legal relations in the sphere of lending in the direction of currency transactions, namely, the exchange rate.