What Is Moral Obligation Bond?

A moral obligation bond is a type of municipal bond that is backed by the moral obligation of a state or local government, rather than by a specific revenue stream. In most cases, moral obligation bonds are used to finance capital projects, such as roads, bridges, and schools. While moral obligation bonds are not backed … Read more

Reading Into Tri-Party Agreements.

When two parties are negotiating a contract, they will often appoint a third party to act as an intermediary. This third party, known as a tri-party agent, will often be given broad powers to act on behalf of both parties. This means that the tri-party agent can, without the prior approval of either party, make … Read more