A type of long term permanent financing for residential construction or large construction projects, that replaces the construction loan is called a takeout loan.
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What is a takeout loan?</h3>
A takeout loan is a method of financing whereby a loan that is procured later is used to replace the initial loan.
More specifically, a takeout loan, or takeout financing, is long-term financing that the lender promises to provide at a particular date or when particular criteria for completion of a project are met.
A take-out loan provides a long-term mortgage or loan on a property that "takes out" an existing loan.
The take-out loan will replace interim financing, such as replacing a construction loan with a fixed-term mortgage.
If the take-out loan is used to finance a rental or income-generating property, the take-out lender may be entitled to a portion of the rents earned.
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Answer:
None
Explanation:
In simple words, audit reporting or auditing refers to the process under which an independent third part, licensed by the regulatory body, examines the financial statements of an organisation to check if such statements depicts fair information and are made as per the regulatory standards.
The auditor if satisfied gives the positive assurance and if not then he or she can ask for further information or can directly report the statements to the regulatory bodies.
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A manager who tells a subordinate that he will not recommend her for promotion unless she supports his proposal in an upcoming sales meeting is using Coercion type of political behavior.
<h3>What is Coercion behaviour?</h3>
- Coercion is the use of threats, especially physical threats, to induce an unwilling action from a party.
- It entails a series of coercive behaviors that go against an individual's free will in an effort to elicit the desired response.
- Extortion, blackmail, or even torture and sexual assault are examples of these activities.
- Coercion occurs when someone is threatened with violence if they refuse to sign a contract.
Elements of Coercive Practices Proof
- Damaging, endangering, or threatening to harm.
- Both directly and indirectly.
- Any party or that party's property.
- Unfairly sway a party's course of action.
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