LeaseForce International - Commercial Equipment Leasing, Financing & Consulting Service Provider

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Your search returned 31 result(s).

G&A

Acronym for general and administrative expenses

G-10

The G-7 plus Belgium, the Netherlands, Sweden and Switzerland, for a total of 11, but they are still called the G-10

G-7

The informal economic policy coordinating group of the world's richest and most industrialized nations (i.e. Britain, Canada, France, Germany, Italy, Japan and the U.S.

G-8

The G-7 plus Russia.

GAAP

Acronym for generally accepted accounting principles

GAAP Accounting

The keeping of financial books and records according to generally accepted accounting principles.

Garnish/Garnishment

To commence or the act of commencing a legal proceeding whereby a creditor directs a third party who has property (e.g. money), of the creditor’s debtor to transfer the property to the creditor.

GATT

Acronym for General Agreement on Trade and Tariffs; GATT has been replaced by the activities of the World Trade Organization.

Gearing

(Financial ratio analysis based) The debt-to-equity ratio of a business; leverage.

General and Administrative Expenses

Business related overhead that is not directly attributable to a specific good or service, (i.e. indirect costs).

General Partner

The partner in a limited partnership who is directly liable for the liabilities of the limited partnership; the limited partners of a partnership do not have the same liability risk

General Power of Attorney

The empowerment of another party to act in all matters with the same complete authority of the party granting the power

Generally Accepted Accounting Principles

The standards of accounting, usually as expressed by an official accounting body, such as the International Accounting Standards Committee

Good Faith

Honest intention and action

Good Standing

The status of a corporation that is current in all of its licensing, franchise, tax, debt and similar obligations to the relevant government authorities, vendors and debtors.

Goods

Physical things which are bought, sold, leased or otherwise transferred in commerce

Goods and Services Tax

Another name for value-added tax.

Grace Period

The period after the due date for payment or performance of a legal obligation before a default is declared.

Grant

The giving of something, either some tangible item or a power, authority or similar capability.

Grantee

The party who receives a grant

Grantor

The party who gives a grant

Gross Lease

A lease in which the lessor is liable for insurance, property taxes, maintenance expenses, and the like (i.e. operating lease, service lease; maintenance lease.

Group of 77 Developing Nations

The Group of 77 Developing Nations is now an organization of 132 countries from Africa, Asia, the Caribbean, Latin America and the Middle East. Its goal is to foster and assist the mutual economic interests of its members

GST

Acronym for goods and services tax, another name for value-added tax

Guarantee

An agreement to answer for the debt or obligations of another if that other party fails to pay or perform.

Guarantee Claim

A warranty claim

Guaranteed Residual

A shorthand reference for guaranteed residual value.

Guaranteed Residual Value

An agreement by a lessee or third party that the lessee or third party will pay to the lessor any deficiency resulting from the disposition of the leased property at the end of the lease term at any value less than the residual value originally agreed too at the inception of the lease.

Guarantor

A party who agrees to answer for the debt or obligations of another if that other party fails to pay or perform.

Guaranty

An agreement to answer for the debt or obligations of another if that other party fails to pay or perform.

Guideline Lease

(U.S. based) (1). A lease that substantially complies with Revenue Ruling 55-540, 1955-2 C.B. 39, which sets forth certain guidelines that the Internal Revenue Service would consider as evidence that a specific transaction was a conditional sales contract rather than a lease. The guidelines do not set forth what is a lease, but rather set forth certain characteristics of a transaction that the Internal Revenue Service will typically consider as indicative of a conditional sales contract. (2). A tax lease written under criteria or “guidelines” established by the IRS to determine the availability of tax benefits to the lessor.