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Glossary of Terms

A B C D E F G I L N P Q R S U V W

Capital Expenditures Investments of cash for improvements to remain competitive in a business.
 
Capitalized Items Have an economic life of one year or more and the cost is moved to the balance sheet, and then these costs can be written down by depreciation or amortization over time.
 
Cash Flow The excess of sources of cash over uses of cash.
 
Cash Flow Statement An Analysis of all the changes that effect the cash account during an accounting period. These changes may be shown as either sources or uses of cash.
 
Closing Costs Costs to transfer business from seller to buyer at conveyance of business.
 
Closing Statement A written accounting of funds to seller and buyer at passing of papers.
 
CLP (Certified Lender Program) This process is for the more sophisticated and experienced lenders who have graduated beyond GP status. Typically, the lender now submits a complete package to the SBA and as a CLP Lender they are guaranteed a 3-day turnaround from the SBA.
 
Collateral A security, such as a mortgage, given to protect debt.
 
Co-mingling The mixing of funds held for the benefit of others with the brokers personal or business funds. 
 
Commission Money or other valuable consideration given to broker by principal for services rendered. Typically, the amount is by agreement.
 
Conditional Sales Contract A contract in which owner retains title until buyer has met all terms and conditions; a familiar device in land sales; also called land contract or installment contract. Buyer acquires equitable title until final payment; after delivery of deed, buyer has legal title.
 
Confidentiality Agreement A pact that forbids buyers, sellers, and their agents in a given business deal from disclosing information about the transaction to others.
 
Consideration Something of value exchanged between parties of a contract; money, services, goods or promises.
 
Contract A legal instrument between two parties to do or not to do something; in reality, it must be in writing to be enforceable.
Counter Offer: typically voids first offer and creates new offer.
 
Corporate Buyers Sometimes called strategic buyers, these are companies that can derive operational benefits from owning a business. This can occur because of potentially higher revenues from a combination, potentially lower expenses by joining together, or a mixture of the two. Because of these perceived synergies, premium prices are often paid by strategic buyers.
 
Covenant A promise in an agreement or contract agreeing to performance or nonperformance of certain acts, or requiring or preventing certain acts or uses.
 

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