What Is the Sick Industrial Companies Act (SICA)? The Sick Industrial Companies Act of 1985 (SICA) was a key piece of legislation dealing with the issue of rampant industrial sickness in India. The Sick Industrial Companies Act (SICA) was enacted in India to detect unviable (“sick”) or potentially sick companies and to help with their revival, if
What Is Side Collateral? Side collateral is a pledge that partially collateralizes a loan. The pledge can be a physical asset, financial asset, or personal guarantee. While physical or financial assets can be assigned an underlying price or value, personal guarantees depend solely on the character of the borrower. Most commercial lenders will not accept
What Is a Sideways Trend? A sideways trend is the horizontal price movement that occurs when the forces of supply and demand are nearly equal. This typically occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend. A sideways price trend is also commonly known as a
What Is SIFMA (Security Industry/Financial Market Association)? The Securities Industry and Financial Markets Association (SIFMA) is a not-for-profit trade association that represents securities brokerage firms, investment banking institutions, and other investment firms. SIFMA represents firms of all sizes in all financial markets in the U.S. and around the globe. The organization’s membership represents 80% of
What Is a Sight Letter of Credit? A sight letter of credit refers to a document that verifies the payment of goods or services, payable once it is presented along with the necessary documents. An organization that offers a sight letter of credit commits itself to paying the agreed amount of funds provided the provisions
What Is a Signature Loan? A signature loan, also known as a “good faith loan” or “character loan,” is a type of personal loan offered by banks and other finance companies that only requires the borrower’s signature and a promise to pay as collateral. A signature loan can typically be used for any purpose the
What Is a Signing Bonus? A signing bonus or sign-on bonus is a one-time lump-sum payment offered to a prospective employee as an incentive to accept the job. Once offered mostly to star athletes and software wizards, the signing bonus was adopted by many businesses, including fast-food outlets and warehouses, at the end of the
What Is a Silent Second Mortgage? A silent second mortgage is a second mortgage placed on an asset (such as a home) for down payment funds that are not disclosed to the original lender on the first mortgage. The second mortgage is called “silent” because the borrower does not disclose its existence to the original
What Is a Silent Automatic Lien Silent automatic lien is a term that refers to a lien that does not appear in any public record. The Internal Revenue Service uses silent automatic liens to collect unpaid taxes when less drastic measures, such as sending letters to the delinquent taxpayer, have failed. Key Takeaways Liens are
What Is a Silent Bank Run? A silent bank run is when depositors withdraw funds in large volumes without physically entering the bank. Silent bank runs are similar to normal bank runs, except funds are withdrawn via electronic fund transfers, wire transfers, and other methods that do not require physical withdrawals of cash. Key Takeaways
