Partial Shipment

A load sent in more than one consignment. In a Letter of Credit, the buyer can say whether this is allowed or not allowed.

Partnerships

Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability with respect to obligations of the group. There is a written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.

Pass Through Certificates

Debt instruments backed by a portfolio of assets.

Payback period

Length of time required for an asset to generate cash flows just enough to cover the initial outlay.

Plain Vanilla Transactions

The most common and generally the simplest types of derivatives transaction. Transactions that have unusual or less common features are often called exotic or structured.

Pledge

If someone pledges goods, they let a second person take possession of the goods, but the person pledging the goods still owns them. It is often done as security for money owed or to make sure that something is done as promised.

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