Duty
From ACT Wiki
1. Tax.
A tax levied on certain transactions rather than on profits or on income.
Duties include: import duties, excise duties, stamp duty and stamp duty land tax.
2. Law and ethics.
A legal or moral obligation or responsibility.
For example, stewardship is the fundamental fiduciary duty of company directors, to safeguard and administer the property belonging to a company, on behalf of its shareholders.
3. Contract law - employment.
Tasks or responsibilities that a contracting party or an employee undertakes as part of their employment or other contractual engagement.
- Syndicated loans - agents
- "An agent is usually appointed from amongst the banks to manage the drawdown, interest calculation, and repayment process and will require an annual fee to perform this duty."
- Bank facility - the Treasurer's Wiki.
