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Force Majeure

Literally, French for "greater force." It refers to any extraordinary event or circumstance that is beyond the control of the...

FL

It stands for floating rate tranche; a CMO tranche (or a tranche in a similar structure) in which the monthly...

Pure Economic Loss

A type of economic loss/ financial loss that only reflects financial damage sustained as a result of the negligence of...

Financial Loss

A type of loss that results from physical damage to property/ assets, which is recoverable under normal situations. The claimant,...

Economic Loss

A type of loss that results from physical damage to property/ assets, which is recoverable under normal situations. The claimant,...