: Home : Jargon Buster : J : Jointly And Severally
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Previous
Jointly And Severally
Municipal bond underwriting in which the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation, regardless of how many bonds they may have already sold.
A firm with 20% of the account is responsible for selling 20% of the unsold bonds even if has already sold 25% of the total debt issue, for example.
Submitted by: admin
Added: Tue May 23 2006
