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FrançaisThe failure or refusal of a government to pay back its debt in full. It may be accompanied by a formal declaration of a government not to pay (repudiation) or only partially pay its debts (due receivables), or the de facto cessation of…
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The risk to a lendor that the government of a sovereign state may default on its financial obligations.
Read MoreSubcontractor
An individual, business, or company a supplier contracts to deliver or carry out any part of the supplier’s contract obligations.
Read MoreSubsidiary
A company controlled by another company, called parent company, usually through ownership of, at least, 50 per cent of its shares, or through other organizational or managerial agreement. There are several different types of relationship that a subsidiary company may…
Read MoreSunk costs
Sunk costs are costs incurred in the past that cannot be recovered if a project is cancelled – e.g. research and development costs.
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