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An acronym for Request for Proposal. RFPs is part of a common bidding process in the public sector and for large projects. They normally list the project specifications and procedures, and are issued to agencies or organizations that might be qualified to participate. Sale and Leaseback An arrangement where equipment is purchased by a lessor from the company owning and using it. The lessor then becomes the owner and leases it back to the original owner, who continues to use the equipment. credit pacific service union

A unit of ownership in a corporation, which can be held privately or publicly. Short-term Debt Loans that are to be repaid within one year. Shared Savings Agreement The installing company/finance source installs the equipment and receives payments from the end-user/host company based on the energy savings produced by the equipment. There are two types of agreements, fixed and . true shared savings contracts. Fixed shared savings contracts define the savings based on engineering studies or one-time verifications of savings at the time of project completion and the savings-based payment is not subject to change following project acceptance by the customer. True shared savings contracts require the savings be verified periodically and the saving-based payment is subject to change. Shared Savings Agreements are considered by many to be off balance sheet financing . credit first service union

The time required to recover the capital investment out of the savings of the installed energy efficiency equipment. It does not take into consideration any savings beyond the payback period; therefore it tends to penalize long life projects and favor projects that offer high savings over a short time. It is commonly used when funds are limited. Sinking Fund card credit mobile service

Money set aside on a periodic basis to retire term bonds at or prior to maturity. Sole Proprietorship A business firm owned by only one person and operated for his/her profit. Stipulated Savings Energy savings values which are stipulated based on engineering calculations using typical equipment characteristics and operating schedules developed for particular applications, without on-site testing or metering. This may be a cost effective approach for lighting efficiency and controls projects. Also know as deemed savings. card credit discover service

A stream rate, also known as the running rate of interest, may be quoted on leasing transactions. It reflects only the payment stream and excludes the cost of the purchase option at term-end, so it will usually be lower than the APR. This is not an incorrect rate, but it may be misleading when comparing it with an APR. Subordinated Debt Debt whose claims on assets are somehow inferior to the claims of another class of debt. The superior debt has first claim to the assets used as collateral for the debt, e.g., a second mortgage on a home gets nothing until the first mortgage has been fully satisfied in case of default. credit public service union

To streamline the procurement process, the U. S. Department of Energy s Federal Energy Management Program (FEMP) awarded indefinite-delivery, indefinite-quantity (IDIQ) contracts the Super ESPCs to a number of energy service companies (ESCOs). These competitive awards were made in compliance with all applicable Federal Acquisition Regulations (FAR) requirements. There are two types of Super ESPCs: Regional, all-purpose Super ESPCs and Technology-Specific Super ESPCs. Regional Super ESPCs are intended for implementing a wide range of technologies. And the Technology-Specific ESPCs give Federal agencies access to new or emerging technologies that are not yet fully established in the marketplace but have outstanding potential for saving energy and money at Federal sites. card credit processing service

A lease agreement that qualifies as a leasing transaction for purposes of financial reporting and as a secured financing for purposes of income tax reporting. These leases are structured to pass FASB 13 tests for operating leases and are sometimes used for equipment which might not normally hold a high residual value necessary for traditional FASB 13 operating leases (e.g., lighting, HVAC, etc.). center credit service union

Similar to the Energy Service Agreement above (see Performance Contracts section), this fixed payment shared savings agreement can combine the rate benefits of a tax exempt financing vehicle with the marketing advantages of a shared savings agreement, and may be popular with schools. Tax Lease / True Lease A lease where the lessor can claim tax incentives of ownership and the lessee can claim rental payments as tax deductions. Because the final decision to purchase the leased equipment is deferred until the end of the lease contract (at its then fair market value ), monthly rental payments are usually expensed for tax purposes. card credit service wireless

A loan which is repaid over a predetermined period of time longer than one year. Rates may be floating or fixed. Time Value of Money All money commands interest, either imputed or explicit. Interest costs are a function of the interest rate and the time for which the money is being rented (used). Thus, time costs money. TRAC Lease This is a tax-oriented lease of titled motor vehicles or trailers that contains a terminal rental adjustment clause (fixed purchase amount) and otherwise complies with the requirements of a true lease. credit security service union

Starting a new enterprise with too little money to carry it through the beginning stages of development. Trustee A bank designated as the custodian of funds and official representative of bondholders or lessor. Trustees are appointed to insure compliance with the trust indenture and represents bondholders or lessors to enforce their contract with the issuer. credit report service

Debt bonds issued on the general credit of a company. Unsecured Loan Loan granted solely on the strength of the maker s signature. Venture Capitalist An investor who provides early financing to new ventures--often technology-based--with an innovative product and the prospect of rapid and profitable growth. Warrant An option to buy a certain amount of stock for a stipulated price that is transferable--it can be traded. blogspot com christian