Thursday, November 20, 2008

Term of the Day - trustee

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Term of the Day - trustee

An individual or
organization which holds or manages and invests assets for the benefit of another. The trustee is legally obliged to make all trust-related decisions with the trustee's interests in mind, and may be liable for damages in the event of not doing so. Trustees may be entitled to a payment for their services, if specified in the trust deed. In the specific case of the bond market, a trustee administers a bond issue for a borrower, and ensures that the issuer meets all the terms and conditions associated with the borrowing.
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Quote of the Day

The first rule of venture capitalism should be Shoot the Inventor. - Sir Richard Storey
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