Indemnity and Profit: Difference between pages

Revision as of 10:40, 1 September 2014

1.

Accounting.

A surplus arising from the appropriate matching of revenues with expenditure.

2.

More generally any surplus, gain or net benefit arising.

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-An obligation of one party to reimburse another party for losses which have occurred or which may occur.
+.
+''Accounting.''
-==== Example ====
+A surplus arising from the appropriate matching of revenues with expenditure.
-In the UK, banks may have a liability to the payer for the value of any funds which are ‘incorrectly diverted’ to a different bank account.
-This potential liability of the bank may arise under a multilateral netting system in a group of companies, in relation to third party receipts into the group's netting system.
+.
-In the UK, banks would require an indemnity for any liability they may have for the value of funds which may have been ‘incorrectly diverted’ in this way.
+More generally any surplus, gain or net benefit arising.
 == See also ==
-* [[Bond]]
+* [[Attributable profit]]
-* [[Guarantee]]
+* [[Business]]
-* [[Indemnity clause]]
+* [[Gross profit]]
-* [[Multilateral netting]]
+* [[Loss]]
+* [[Not-for-profit]]
+* [[Profit and Loss account]]
+* [[Profit and Loss reserve]]
+* [[Profit margin]]
+* [[Profitability]]
+* [[Unrealised profit]]