Import Duty What is an 'Import Duty ' Import duty is a tax collected on imports and some exports by the customs authorities of a country. It is usually based on the value of the goods tha

DefinitionThe term annual percentage rate of charge, corresponding sometimes to a nominal APR and sometimes to an effective APR, is the interest rate for a whole year, rather than just a mon

Past Due Balance Method What is 'Past Due Balance Method' A system for calculating interest charges based on any outstanding loan or credit charges that remain unpaid after a certain date.

Past Due What does 'Past Due' mean Past due is a loan payment that has not been made as of its due date. A borrower who is past due may be subject to late fees, unless the borrower is stil

Sales Charge What is a 'Sales Charge' A sales charge is a commission paid by an investor on his or her investment in a mutual fund. The sales charge is paid to a financial intermediary (br

Fair Credit Billing Act (FCBA) What is the 'Fair Credit Billing Act - FCBA' A federal law designed to protect consumers from unfair credit billing practices. The Fair Credit Billing Act (F

Wear And Tear Exclusion What is 'Wear And Tear Exclusion ' A provision of an insurance contract that states that the normal, expected deterioration of the insured object will not be cover

Unbundled Life Insurance Policy What is 'Unbundled Life Insurance Policy' An unbundled life insurance policy is a type of insurance policy and planned financial protection that offers mone

DefinitionA racket is a planned or organized criminal act, usually in which the criminal act is a form of business or a way to earn illegal or extorted money regularly or briefly but repeate

EBITDA To Fixed Charges What is 'EBITDA To Fixed Charges' A ratio used to measure a company's ability to incur additional debt or its ability to pay off existing debt. The ratio is usually