Financial law

thumb|right|Payday loan businesses lend money to customers, who then owe a debt to the payday loan company.

250px|thumb|Payment with a bank card in a store in [[Taiwan]] A payment is the tender of something of value, such as money or its equivalent, by one party (such as a person or company) to another in exchange for goods or services provided by them, or to fulfill a legal obligation or philanthropy desire. The party making the payment is commonly called the payer, while the payee is the party receiving the payment. Whilst payments are often made voluntarily, some payments are compulsory, such as payment of a fine.

document issued by a financial institution

any entity that is recognised as having privileges and obligations in law

risk of default on a debt that may arise from a borrower failing to make required payments

any of various types of risk associated with financial transactions, financing or investment

thumb|"I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I – I withdraw my overdraft!" ---- Cartoon from Punch (magazine)|Punch Magazine Vol. 152, June 27, 1917

legal rules or restrictions for financial institutions

loan

financial instruments that belong to the group of asset-backed securities and structured credit products

security with value derived from a commodity or asset

type of organization

rules or restrictions for financial institutions

exotic financial option

reduction of a claim by deducting the amount of a valid countervailing claim

type of loan with collateral pledged

the level of risk in a bank's portfolio arising from concentration to a single counter-party, sector or country

a subset of operational risk based on a business perspective, including legal liabilities and obligations incurred during business exploitation of opportunities

legal right granted by a debtor to a creditor over the debtor's property

surety bond for completion of work under a contract