Debt:
Synonymous with the term "claim," for purposes of this
document. It refers to an amount of money or property
which has been determined by an appropriate federal official
to be owed to the U.S. from any person, organization,
or entity other than another federal agency.
Included as debts are amounts due the U.S. from fees,
duties, leases, rents, royalties, services, sales of real
or personal property, overpayments, fines, penalties,
damages, taxes, interest, forfeitures, and other sources.
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| Debt
Collection:
Recovery of amounts
due after routine
follow-up fails. This
activity includes
the assessment of
the debtor's ability
to pay, the exploration
of possible alternative
arrangements to increase
the debtor's ability
to repay and other
efforts to secure
payment. |
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| Deed-in-Lieu
of Foreclosure:
A voluntary transfer
of marketable title
to a property to avoid
foreclosure. |
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| Default:
Failure to meet any obligation or term of a credit agreement,
grant, or contract. Often used to refer accounts more
than 90 days delinquent. |
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| Deficiency:
Portion of a loan which remains outstanding after pledged
property has been liquidated (converted to cash) and applied
to the outstanding balance. |
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| Delinquency:
Failure of the debtor to pay an obligation or debt by
the date specified in the agency's initial written notification
or applicable contractual agreement, unless other satisfactory
payment arrangements have been made by that date. Delinquency
would also occur if, at any time thereafter, the debtor
fails to satisfy the obligations under payment agreement
with the agency. |
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| Design-Build:
A procurement or project
delivery arrangement
whereby a single entity
(a contractor with
subconsultants, or
team of contractors
and engineers, often
with subconsultants)
is entrusted with
both design and construction
of a project. This
contrasts with traditional
procurement where
one contract is bid
for the design phase
and then a second
contract is bid for
the construction phase
of the project. |
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| Direct
Loan:
A disbursement of
funds by the Government
to a non-Federal borrower
under a contract that
requires repayment
of such funds with
or without interest.
The term includes
the purchase of, or
participation in,
a loan made by a non-Federal
lender. The term also
includes the sale
of a Government asset
on credit terms of
more than 90 days
duration. The term
does not include the
acquisition of Federally
guaranteed non-Federal
loans in satisfaction
of default or other
guarantee claims or
the price-support
loans of the Commodity
Credit Corporation.
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| Direct
Loan Obligation:
A legal or binding
agreement by a Federal
agency to make a direct
loan when specified
conditions are fulfilled
by the borrower. Acquisitions
of federally guaranteed
non-Federal loans
in satisfaction of
default or other guarantee
claims are not recorded
as direct loan obligations.
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| Direct Loan Subsidy Cost:
Estimated long-term cost to the federal government of
direct loans calculated on a present value basis, excluding
administrative costs. The cost is the present value of
present value of estimated net cash outflows at the time
the direct loans are discharged. The discount rate used
on the calculation is the average interest rate (yield)
on marketable Treasury securities of similar maturity
to the loan, applicable to the time when the loans are
disbursed. |
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| Discharge:
Satisfying a debt as a legal obligation through the performance
of the obligation(s) imposed under the debt instrument,
such as to pay the debt in full, or through another action
such as a compromise. |
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| Discretionary Spending:
Outlays controllable through the congressional appropriation
process. Such outlays result from the provision of budgetary
resources (including appropriations and obligation limitations
but excluding mandatory spending authority) in appropriation
acts. The Budget Enforcement Act establishes annual spending
limitations or caps on discretionary appropriations and
resulting outlays. |
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