Tooltip Categories: Economics & Finance

local currency

A local currency – also know as a complementary or community currency – is tender which is officially separate from the government’s currency. It can

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local property tax [LPT]

A tax assessed on real estate by the local government. The tax is usually based on the value of the property (including the land). (Read

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lodger

a person who rents accommodation in another person’s house.

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logistics

The detailed organization and implementation of a complex operation as the commercial activity of transporting goods to customers. (source: http://oxforddictionaries.com/es/definicion/ingles/logistics)

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logo

A graphic mark or emblem commonly used by commercial enterprises, organizations and even individuals to aid and promote instant public recognition. (source: http://en.wikipedia.org/wiki/Logo)

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loan approval

Formal authorization, usually from a bank, to get a loan. .(source: thefreedictionary.com )

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loan default

A default on a loan or contract occurs when the borrower fails to meet the specifications of the contract, the legal duty required by the

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loan officer

Employee of a microfinance institution that manages a portfolio of loans customers (credit application evaluation, monitoring, recoveries,..).

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loan repayment plan

A procedure according to which a loan´s capital and interest would be return. The borrower and the lender can negotiate and agree the terms for

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loan amortization

Repayment of a loan to the lender with interest. Based on the loan’s amount, interest rate, and length, a monthly payment is determined that the

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