Prorate

Business / Agriculture / Prorate: A quantity provision in a fruit or vegetable marketing order that is intended to even out weekly shipments (or shipments for some other specified periods of time): it aims to prevent too much of the regulated commodity from entering the commercial market at the same time and thereby depressing prices.

Impound Account

Business / Real Estate / Impound Account: A trust account established to set aside funds for future needs relating to a parcel of real property. Many mortgage lenders require an impound account to cover future payments for taxes, assessments, MORE

Merger

Business / Accounting / Merger: The acquisition of one company by another company whereby the companies combine as one legal entity, with the acquired company going out of existence. MORE

Fractional Basis

Business / Real Estate / Fractional Basis: Each property in the improvement district is charged a prorated share of the total amount of the special tax assessment. The share is determined either on a fractional basis (four houses may equally s MORE

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