Terms Starting with C
- Classification Type pour le Commerce International (CTCI) — Acronym, ➥ The classification type for international trade.
- Classified Information Non-Disclosure Agreement (CINDA) — Acronym,
- Classified Property Tax — Definition,
- A local government's levy on real estate that varies depending on the use of the property. Usually, commercial property is taxed more heavily than residential property where a classified property tax exists.
- Clean Sheeting — Definition,
- A type of insurance fraud where an individual deliberately fails to disclose a pre-existing condition in order to receive coverage, sometimes with the help of an insurance broker.
- Clear Title — Definition,
- Title not burdened by liens or legal questions.
- Clear-Space Clause — Definition,
- A clause that requires insured property to be located a minimum distance from surrounding property.
- Clearing & Settlement Mechanism (CSM) — Acronym,
- Clearing and Settlement (C&S) — Acronym,
- The process whereby banks collect or pay out for items drawn on or paid into accounts in their institution. This process enables banks to accept each other's cheques and bank drafts for deposit. The Canadian Payments Association operates Canada's clearing system.
- Client Account Agreement (CAA) — Acronym, ➥ Terms set out by banks when opening a savings or securities / investment account.
- Client Spending Account (CSA) — Acronym, Important,
- Upon reaching a certain funding ratio with a lender, a client spending account may then be used by a mortgage broker to help retain clients.
➥ Broker compensation / loyalty program. - Client-based Banking Software — Definition,
- Customers use money management software and their own computers to access the bank using a modem and a phone line.
- Close International Private Banking (CIPB) — Acronym,
- Closed End Second (CES) — Acronym,
- Closed Mortgage — Definition, Important,
- Closed mortgages involve a strict repayment schedule of a specific amount with optional limited lump sum payments and payment increases.
- Closed-account Fee — Definition,
- A fee charged for shutting down an account. Sometimes charged if the account is closed before a certain time period has passed.
- Closed-end Fund — Definition,
- A mutual fund with shares initially sold to investors through an IPO; afterwards, the fund is listed on a stock exchange to be bought and sold.
- Closed-end Lease — Definition,
- The most common type of car lease. The lessee may return the car at the end of the lease term, pay any end-of-lease costs, such as the disposition fee, and the lease agreement is over. In a closed-end lease, the lender assumes the risk of predicting the value of the vehicle (its residual value) at the end of the lease's term. Closed-end lease payments are somewhat higher than open-end lease payments.
- Closely Held — Definition,
- Schedule II banks may be closely held, i.e., one party (owner) may hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership.
- Closing — Definition,
- In real estate, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes a real estate transaction.
- Closing Costs — Definition,
- The miscellaneous expenses involved in closing a real estate transaction that are over and above the purchase price. Some of the closing costs include title insurance, appraisal fee.
- Closing Date (cloda) — Abbreviation,
- The date a buyer takes possession of a property title.
- Closing Date Notice (CDN) — Acronym,
- Clothes Washer / Clothes Dryer (CW/CD) — Acronym,
- Cloud on Title — Definition,
- A claim on title to property that could impair the ability to transfer ownership.
- Club Pool (clbpl, clbpool) — Abbreviation,
- Clubhouse (clbhs) — Abbreviation,
- Cluff Lake Airport (XCL) — Acronym, Cluff Lake, Saskatchewan, Canada,
- Cluster (Clus) — Abbreviation,
- Cluster Development — Definition,
- A doctrine by which a local government specifies the population density of a planned development, and the developer has the option of making some areas of the development more densely populated than others.
- Clyde River Airport (YCY) — Acronym, Clyde River, Nova Scotia, Canada,
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