Common Contracts
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WAC 284-13-910 Definitions.Definitions • May 5th, 2020
The definitions in this section apply to WAC 284-13-920 through 284-13-960. "Business entity" includes a sole proprietorship, corporation, limited liability company, association, partnership, joint stock company, joint venture, mutual fund, trust, joint tenancy or other similar form of business organization, whether for-profit or not-for-profit. "Cap" means an agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price or level or the performance or value of one or more underlying interests exceeds a predetermined number, sometimes called the strike rate or strike price. "Collar" means an agreement to receive payments as the buyer of an option, cap, or floor and to make payments as the seller of a different option, cap, or floor. "Counterparty exposure amount" means: (1) The net amount of credit risk attributable to a derivative instrument entered into with a business entity other than through a qualified exchange, qua
