Back to Top

Glossary

A B C D E H I L M O P R S U W

Receivership

When a concern or person has lent a company money, or a bank has granted borrowing facilities and a secured charge has been created, if the chargee finds the company cannot pay the interest due to them or cannot pay the sum involved at the due date etc., in many cases the terms of the charge give the chargee (the lender) the power to appoint an Administrative Receiver to protect his interests. Where there are no such powers, the chargee may apply to the Court for the appointment of an Official Receiver.

Risk Management

Determination of appropriate actions to minimize loss in the case of extensions of due dates, changes of payment terms and long overdue payments by the buyer.