Debenture - A certificate of indebtedness, an instrument in which a corporation or a company acknowledges indebtedness for a specified sum on which interest is due until the principal is paid back and not secured by specific assets.
Demand Deposit - A bank deposit that can be withdrawn by the depositor at any time.
Demand Guarantees - General term for payment undertakings arising on the presentation of a written demand (plus possible other documents specified in the guarantee), not conditional on proof of default by the principal in the underlying transaction. They ensure often that the lender will be paid the principal on maturity and possibly, depending on the instrument, interest when due. Example: SLC’s.
Depository Trust Company (DTC) - A custodial clearing facility owned by the major banks and securities firms and monitored by various banking regulatory agencies and the Securities and Exchange Commission.
Discount - When the market price of a newly issued security is lower than the issue price. If it is higher, the difference is called a premium.
Discretionary Trust - The form of trust usually established offshore. The discretion's are vested in the trustee who can usually decide which of the beneficiaries is to benefit, when and to what extent. Discretion's are exercised under advice of, or suggestions from the settlor or protector.
Dividend - The part of a company's post-tax profits distributed to shareholders, usually expressed as an amount per share.
Domicile - The place of a person's permanent home and the means by which the person is connected with a certain system of law related to issues such as marriage, divorce, succession of estate and taxation.
Double Exit - Use of two passports for the purpose of confusion or convenience.
Draft - A signed, written order by which one party (the drawer) instructs another party (the drawee) to pay a specified sum to a third party (the payee), at sight or at a specific date.