What Is the Goods and Services Tax (GST)? The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. Critics point out, however, that
What is Good ‘Til Canceled (GTC) Good ’til canceled (GTC) describes a type of order that an investor may place to buy or sell a security that remains active until either the order is filled or the investor cancels it. Brokerages will typically limit the maximum time you can keep a GTC order open (active) to
What Is the Guatemalan Quetzal (GTQ)? GTQ is the foreign exchange abbreviation for the Guatemalan quetzal. It is the official currency of Guatemala and is subdivided into 100 centavos. As of August 2022, 1 GTQ is worth the US $0.13. Key Takeaways The Guatemalan quetzal (GTQ) is the official currency of Guatemala, first appearing in
What Is Guanxi? Guanxi (pronounced gwan’ CHē) is a Chinese term meaning relationships; in business, it commonly refers to the networks or connections used to open doors for new business and facilitate deals. The term refers not just to the existence of relationships but to their nature: to having personal trust and a strong relationship.
What Is a Guarantee Company? A guarantee company is a type of corporation designed to protect members from liability. Guarantee companies often form when non-profit organizations wish to attain corporate status. Clubs, sports associations, students’ unions, and other membership organizations, workers’ co-operatives, social enterprises, and non-governmental organizations (NGOs) may also form guarantee companies. Typically, a
What Is a Guaranteed Bond? A guaranteed bond is a debt security that offers a secondary guarantee that interest and principal payments will be made by a third party, should the issuer default due to reasons such as insolvency or bankruptcy. A guaranteed bond can be of either the municipal or corporate variety. It can
What Is a Guaranteed Death Benefit? A guaranteed death benefit is a benefit term that guarantees that the beneficiary, as named in the contract, will receive a death benefit if the annuitant dies before the annuity begins paying benefits. Key Takeaways A guaranteed death benefit is a benefit term that guarantees that the beneficiary will
What Is a Guaranteed Income Bond (GIB)? A guaranteed income bond (GIB), sold by life insurance firms, is an investment popular in the U.K. that provides income in the form of interest over a specified time period, usually between six months and ten years. Key Takeaways A guaranteed income bond (GIB), sold by life insurance firms, is
What Is a Guaranteed Investment Contract (GIC)? A guaranteed investment contract (GIC) is a contract between an insurance company and an investor, typically a pension fund or an employer-sponsored retirement plan, such as a 401(k). The investor agrees to deposit a sum of money with the insurer for a specified period of time, and the
What Is Guaranteed Issue Life Insurance? Guaranteed issue life insurance, or guaranteed acceptance life insurance, is a type of whole life insurance policy that does not require you to answer health questions, undergo a medical exam, or allow an insurance company to review your medical and prescription records. You may also see it referred to
