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Fiscal Agent |
Also found in: Acronyms | 0.06 sec. |
Fiscal Agent A bank or similar institution that, in exchange for a fee, takes over fiscal responsibilities of another party. For example, a publicly-traded company may hire a fiscal agent to distribute dividends or coupons on its behalf. A fiscal agent allows the client to streamline its operations such that it can concentrate on its actual business, rather than worrying about who receives the proper dividends. See also: Outsourcing. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Generally, the appointment as fiscal agent has been taken to confer authority to act for, or in place of, the federal government in matters relating to public revenues, public debt, and other financial business. An ISO may act directly as the fiscal agent for a consumer. in El Segundo said June 11 it has signed a $149 million contract with the New York State Department of Social Services to act as fiscal agent for the state's Medicaid program. |
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