Derivatives promise payments from one party to another, with the value derived from changes in the price of an underlying security, index or commodity.
In their simplest definition, derivatives are contracts that promise payments from one investor, or "counterparty," to another, depending on future events.
On returns of 6% a year (which the firm says is a "reasonable assumption") his policy would be worth £39,400, but the promise payment would lift this to £52,605, although still leaving him £7,700 short of his target.
Some governments, including America's, have been slow to make promised payments to WADA's budget.
The payment was labelled "Investigation into my missing child" and is understood to be one of two promised payments to Whittington.
Seeking to bolster his campaign to become president of the World Chess Federation, the former champion Garry Kasparov promised payments to an academy run by the organization's general secretary.
In August 2003, Libya promised payments of $10 million for each passenger on the Lockerbie plane, to be paid in installments, and put $2.7 billion in escrow.
According to the indictment in the case, traffickers in the network promised payments of up to $26,000 to poor people in Turkey, Moldova and Russia to persuade them to travel to Kosovo and donate an organ.
18,000 Windows Phone developers promised payments in January alongside process tweaks >> WinRumors "Microsoft has promised that developers will be paid for Windows Phone 7 app sales in the fourth week of January 2011.
The insurgency by Séléka began earlier this month, after the group formed citing anger at the alleged failure of the government to honour a 2007 peace deal which promised payments to former insurgents and the release of political prisoners.
The 65,000 people whose policies mature before December 31 , 2005 will receive maximum top-ups, but promised payments to people whose endowments mature after that will gradually reduce to 40%-60% of the maximum amount previously communicated to policyholders.
