Nonrefundable

(redirected from Non-Refundable)
Also found in: Dictionary.

Nonrefundable

Not permitted, under the terms of an indenture, to be refundable.

Nonrefundable

Describing a bond that may not be retired for a certain number of years or until maturity. Nonrefundable bonds protect bondholders from the risk that the issuer may effectively refinance a bond at a lower interest rate, which would deprive bondholders of coupon payments to which they would otherwise be entitled. Most bonds are nonrefundable for at least five or 10 years after issue. See also: Refundable.

nonrefundable (NR)

A provision of some bond issues that prohibits the issuers from retiring the bonds before a specified date on which funds for the retirement will be raised externally (that is, from outside the issuing firm). Essentially, this provision restricts a borrower from taking advantage of lower interest rates by replacing a bond issue that carries a high coupon rate of interest with a new bond issue that carries a reduced coupon rate of interest. Most bonds are nonrefundable for five to ten years from the date of issue. However, when the funds are raised internally, the bonds ordinarily may be called for some other reason such as a reorganization or merger. A nonrefundable feature works to the advantage of the investor because the bonds are usually not refunded unless interest rates have fallen below the coupon. Compare noncallable.
References in periodicals archive ?
They May Be Picked Up In Hard-copy Form At 52 Chauncy St Boston, Ma 02111 For A Non-refundable $100 Fee
This voucher has no cash value, is non-exchangeable and non-refundable.
This voucher has no cash value and is non-exchangeable and non-refundable.
Dubai: Parents might want to be a hundred per cent sure of the school they choose to enrol their child in before paying a non-refundable down payment that can reach up to Dh10,000.
Dubai: An American school in Dubai has sent shock waves among parents seeking admission for their children in the coming term by replacing a hefty refundable deposit with a non-refundable capital fee for new entrants.
com), the first travel website that provides a solution for non-refundable hotel cancellations for both consumers and hotels, announced today its partnership with Hickory Global Partners (HGP), a strategic business alliance travel company, which provides innovative service, distribution and technology to their network of travel agency and supplier partners.
In some cases, up-front fees were non-refundable even if the agreement fell through through no fault of the tenant, the charity said.
The State Property Management Fund will also draft contracts with mass media on non-refundable placement of information about privatization, defining format, periodicity of news items rotation and other conditions of collaboration.
However, I think that asking for non-refundable deposits too early is unfair on parents.
I jubilantly went back to the used car showroom to ask for one, but to my shock and disbelief they said they would only print out a quotation for the car if I paid them a non-refundable cash deposit of BD500.
In this article, we question the idea that a tax credit, especially a non-refundable one (i.
This is the last non-refundable payment agreed in 2007, when diplomatic relations were established between the two countries, with China granting assistance for $130 million.