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

Please use the search field below to search the Industry Dictionary for a particular word or a group of words, or use the letters below to search for expressions alphabetically.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Your search returned 10 result(s).

UCC

Acronym for the Uniform Commercial Code of the United States.

Underwriter

1. One who agrees to purchase any securities of an issue remaining un-sold. 2. One who agrees to cover some or all of the losses from specific investments.

Uniform Commercial Code (UCC)

A statutory program/code of commercial law enacted in all states in the United States (except Louisiana) that administers, legalizes and records contracts and lien instruments.

Unsecured

Credit provided without collateral.

Unsecured Creditor

A creditor who has no collateral supporting the obligation it is owed.

Unsecured Debt/Loan

A debt or loan obligation that has no collateral supporting it.

Upgrade

Equipment based) The act of replacing existing equipment on lease with newer equipment of the same or similar type, with or without a restructuring and/or re-pricing of the lease.

Upgrade Lease

A lease designed from the inception to accommodate the replacement of existing equipment on lease with newer equipment of the same or similar type, typically without a restructuring of the lease but with a possible increase in rent.

Use Tax

(U.S. based) A tax levied on the use of property. The use tax is a compliment of the sales tax and generally applies to a transaction when a sales tax does not (i.e. equipment leasing transactions). Many states charge a "use" tax in lieu of a sales tax when equipment is leased. So instead of paying a sales tax for purchase of the leased equipment, taxes are collected by the lessor as a percentage of the rentals over the lease term.

Usury

An illegal practice of charging an excess amount of interest on a loan or other financial transaction.