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Defence officials said yesterday that it was the first time a chancellor had committed himself in advance to specific payments out of central funds.
The Greek government will have to service its debts from a special, separate account, depositing sums in advance to meet payments that fall due in the following three months.
For a number of years, MetLife has been using a Bermuda subsidiary, Exeter Reassurance, to reinsure several billion dollars' worth of variable annuity contracts, in which customers pay in advance to receive guaranteed payments in retirement.
According to the report, 7 out of 10 borrowers use payday loans -- typically short-term, high-interest cash advances -- to make payments on recurring bills, including utilities, car payments, food, rent and mortgage payments.
Require payment (with a refundable security deposit) well in advance to make sure the payment clears.
For most people, that would mean a hit to the wallet, including the loss of the few hundred dollars he paid in advance to lower his monthly payment.
Mr. Ashcroft said his "first instruction" to Mr. Feinberg was to provide partial "advance payments" to victims and their families to help them meet immediate financial needs.
The government may also opt to make advance payments to the manufacturer before delivery, but if the contract is canceled, those advance payments must be repaid.
Meanwhile, the Senate Armed Services Committee cut $500 million from the Department of Defense's budget that would have been used by the Air Force to make advance payments to the space agency for future spacecraft launchings.
Be sure to schedule electronic payments in advance to avoid late fees and penalties.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com