Sales completion

Definition:

In the context of project financing, the state in which the project has reached physical completion and has delivered product or generated revenues in satisfaction of a sales completion test.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Mortgage bond

A bond in which the issuer has granted the bondholders a lien against the pledged assets. See: Collateral trust bonds

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