What Is a Non-Deliverable Swap (NDS)? A non-deliverable swap (NDS) is a variation on a currency swap between major and minor currencies that is restricted or not convertible. This means that there is no actual delivery of the two currencies involved in the swap, unlike a typical currency swap where there is physical exchange of
What Is Nondischargeable Debt? Nondischargeable debt is a type of debt that cannot be eliminated through a bankruptcy proceeding. Such debts include, but are not limited to, student loans; most federal, state, and local taxes; money borrowed on a credit card to pay those taxes; and child support and alimony. Nondischargeable Debt Explained Some additional
What Is a Nondisturbance Clause? A nondisturbance clause is a provision in a mortgage contract that ensures that a rental agreement between the tenant and the landlord will continue under any circumstances. This is done primarily to protect the renter from eviction by the mortgagor if the property is foreclosed upon by the lender. A
What Is a Nonelective Contribution? Nonelective contributions are funds employers choose to direct toward their eligible workers’ employer-sponsored retirement plans regardless if employees make their own contributions. These contributions come directly from the employer and are not deducted from employees’ salaries. This distinction separates a nonelective contribution from a matching contribution, which an employer makes depending
What Is a Non-Executive Director? The term non-executive director refers to a member of a company’s board of directors. This board member isn’t a company employee, which means they don’t engage in the day-to-day management of the organization. Rather, most non-executive directors act as independent advisors and are involved in policymaking and planning exercises. Their
What Is a Non Exempt Employee? Non exempt employees are workers who are entitled to earn at least the federal minimum wage and qualify for overtime pay, which is calculated as one-and-a-half times their hourly rate for every hour they work above and beyond a standard 40-hour workweek. These regulations are created by the federal
What Is Nonfeasance? Nonfeasance is a legal concept that refers to the willful failure to execute or perform an act or duty required by one’s position, office, or law whereby that neglect results in harm or damage to a person or property. The perpetrator can be found liable and subject to prosecution. Nonfeasance differs from
What Is a Nonfinancial Asset? A nonfinancial asset is an asset that derives its value from its physical traits. Examples include real estate and vehicles. It also includes all intellectual property, such as patents and trademarks. The classification of possessions as nonfinancial assets is important to businesses as these items appear on a company’s balance
What Is Non-Fluctuating? Non-fluctuating is a characteristic of constancy in a security or measurement’s value, rate of change, or other metric. Non-fluctuating is a feature of a fixed-rate asset which has a constant yield, such as a government-issued debenture. (However, the market price of a bond will fluctuate as interest rates change). A non-fluctuating characteristic
What Is a No-Load Annuity? A no-load annuity is a type of retirement investment that charges lower fees and expenses than annuities usually entail. The monthly payments that the investor receives are based on the returns on the account, which is managed by the investor. No-load annuities are not sold by commission-based brokers or planners because
