fiscal agent


Also found in: Acronyms.

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.

fiscal agent

The organization responsible for paying the interest and principal of another organization's debt. For example, Valdosta State Bank may be fiscal agent for, and make interest and principal payments on, debt incurred by Scott Motors Corporation.
References in periodicals archive ?
The bonds are subject to mandatory tender: (1) upon conversion of the interest rate mode; (2) upon expiration or termination of the respective LOC; (3) upon substitution of the respective LOC if such substitution results in a reduction or withdrawal of the rating assigned to the bonds; (4) following the receipt of written notice from the bank of an event of default under the respective LOC directing such mandatory tender; and (5) upon failure by the City to timely provide funds to the Fiscal Agent at maturity or on a redemption date or interest payment date.
This is the second year that the festival has been held without the support and resources of the Henry Lee Willis Center, which was its fiscal agent for the first 12 years the festival was run.
HP Enterprise Services, division of technology solutions provider HP (NYSE: HPQ), announced on Monday the signing of a USD221m agreement with the Wisconsin Department of Health Services for HP to continue its 36-year relationship as the state's Medicaid fiscal agent.
HP Enterprise Services reported Rhode Island Executive Office of Health and Human Services (EOHHS) has signed a USD89.9m, five-year contract for HP (NYSE: HPQ) to continue as fiscal agent for Rhode Island's Medicaid program and additional state departments.
are fulfilled when payments to the Fiscal Agent have been made in Turkish
As a result, Garanti's payment obligations are fulfilled when payments to the Fiscal Agent have been made in Turkish lira, and the bank is not liable for their convertibility into foreign currency or the exchange rate used.
- Fiscal Agent, Keerah Carter - Youth Expo Chair, Sharell Magee - Youth Expo Co-Chair and our Spokespersons and Honorary Chairs - Eddie Rutledge of The Amani's World Children's Educational Program and Jodine Basterash of Masterpiece Enterprises.
Juan Roman, Govt Development Bank (GDB) VP & fiscal agent, said talks for a long-term supply contract began in July once the government finalized a deal for its own offshore LNG terminal.
Knowing that a company could not buy insurance for its business personal property because of a serious and extensive loss history, its fiscal agent (appointed by a court at the request of a lender after the owners defaulted on loans) lied on an insurance application and claimed no losses on an application.
BNY Mellon, in its capacity as Fiscal Agent, Principal Paying Agent, Transfer Agent and Registrar for The Arab Republic of Egypt, US$ 1,000,000,000 8.75 per cent Notes due July 11, 2011, announces that the Notes have reached their ten year maturity.
Most recently, Garcia was named by the governor of Puerto Rico as chairman of the board, president and CEO of the Government Development Bank for Puerto Rico, the fiscal agent, financial advisor, capital markets coordinator and bank of the Government of Puerto Rico.
Fiscal agent Sumitomo Mitsui Banking Corporation 16.