commercial paper

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commercial paper,

type of short-term negotiable instrument, usually an unsecured promissory note, that calls for the payment of money at a specified date. Because it is not backed by collateral, commercial paper is usually issued by major firms whose credit-rating is so good that their notes are immediately accepted for trading. The notes are sold at a discount and mature in from three to six months. Commercial paper is an important source of cash for the issuing firm; it supplements bank loans and is usually payable at a lower rate of interest than the prime discount rate. Strictly speaking, it includes only those instruments that are used in commerce in place of money, as distinguished from paper used in investment, personal, estate, speculative, and public transactions. In addition to promissory notes, commercial paper may include drafts, bills of exchange and checks, acceptances, bills of lading, warehouse receipts, orders for delivery of goods, and express orders. See. N. D. Baxter, The Commercial Paper Market (1969); Steve H. Nickles, Commercial Paper (1988).
References in periodicals archive ?
Negotiability Example 2: Low-Pressure Pipeline Inspection
To allow December's article to stand alone, outside of a forum identifying the way negotiability in a foreclosure is adjudicated under the plain language of the Uniform Commercial Code, is to otherwise promote a gross misstatement of the law and to obfuscate our state's statutes.
As Wenger (1998) points out, "reconfiguring relations of identification and negotiability is as significant for learning as is access to specific pieces of information" (p.
Determination of the owner is essential for the negotiability of the instrument.
As to negotiability, given its conventional military shortcomings, Russia may be hesitant to give up nuclear or cyber first-use options.
Along the same lines, the contemporary theoretical pragmatic principles of Negotiability (the speaker leaves room for different interpretations by the listener), Motivation (the speaker intentionally chooses one particular meaning and leaves no room for the listener to interpret otherwise), and Conventionality (expressions whose unambiguous meaning is rooted in usage) are discussed.
2 (ANI): Unveiling its 2012 Corporate Travel Forecast and Hotel Negotiability Index, leading travel management company Egencia has predicted that airline average ticket prices (ATPs) and hotel average daily rates (ADRs) for top corporate travel destinations will be slightly up overall in North America and Europe.
Travel Business Review-October 31, 2011--Egencia Announces 2012 Forecast and Annual Hotel Negotiability Index(C)2011] ENPublishing - http://www.
company, today unveiled its 2012 Corporate Travel Forecast and Hotel Negotiability Index, finding that airline average ticket prices (ATPs) and hotel average daily rates (ADRs) for top corporate travel destinations will be slightly up overall in Europe, North America and Asia-Pacific.
To the extent that it takes shape in instrumentalist terms, however, this very insistence arises from and responds to a context in which the contingency, and hence negotiability, of the role of the public domain in copyright law is both presupposed and unchallenged.
The Colorado authorities are warning lawyers to be wary of any similar scheme and said if you are the recipient of telephone calls or emails seeking legal assistance in matters similar to the above facts, you should take all necessary precautions to verify the negotiability of the checks.