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About: Commercial paper     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : dbo:Software, within Data Space : dbpedia.org associated with source document(s)

Type: Thingsoftware New Facet based on Instances of this Class

Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of rarely more than 270 days. In layperson terms, it is like an "IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the creditworthiness of the issuing company. Commercial paper, though a short-term obligation, is typically issued as part of a continuous rolling program, which is either a number of years long (in Europe) or open-ended (in the United States).