Canadian Financial, Real Estate and Mortgage Glossary

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E-cheque — Electronic Data Interchange
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Electronic FilingEquitable Trust Company
An electronic version of a paper cheque. The account holder writes an e-cheque using a computer or other type of electronic device and transmits the e-cheque to the payee electronically. Like paper cheques, e-cheques are signed by the payer and endorsed by the payee. Rather than handwritten or machine-stamped signatures, however, e-cheques are affixed with digital signatures, using a combination of smart cards and digital certificates. The payee deposits the e-cheque, receives credit, and the payee's bank clears the e-cheque to the paying bank. The paying bank validates the e-cheque and then charges the cheque writer's account.
early closing cost reimbursementDefinition
Some line-of-credit lenders waive underwriting costs when a line is opened in anticipation of future profits. If a line is then closed early, these institutions impose those fees retroactively.
early occupancyDefinition
A condition in which the seller allows the buyer to move in before the sale is closed.
early termination chargeDefinition
Charges that the leasee must pay if the car is turned in early before the term of the lease is over.
early withdrawal penaltyDefinition
A depositor forfeits interest or is charged a service fee for either withdrawing funds or closing a time deposit before the maturity date.
earned incomeDefinition
Money earned through wages, salaries, tips, net earnings (if self-employed), and any other income received for work or personal services. Investment income, such as dividends and interest, is not counted as earned income.
earned income tax (EIT) — Acronym
earned premium (EP)Definition
The amount of premiums that an insurer has collected from an insurance policy at a given time.
earnest money deposit (EMD)Definition
Money given by a buyer when making a formal offer to demonstrate that the buyer is serious. Also called a deposit.
  ➥  A down payment.
earnings before interest and taxes (EBIT) — Acronym
earnings before interest, taxes, depreciation and amortization (EBITDA) — Acronym
earnings per share (EPS) — Acronym
  ➥  A measurement of company performance.
Giving persons other than the owner access to or over a property.
economic growthDefinition
The rate of change in output from one year to the next.
economic indicatorsDefinition
Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
economic internal rate of return (EIRR) — Acronym
economic rate of return (ERR) — Acronym
Edmonton Real Estate Board (EREB) — Company Est.1927, Edmonton, Alberta, Canada
  ➥  In 2007 the EREB changed its name to the REALTORS® Association of Edmonton.
Education Property Tax Credit (EPTC) — Manitoba, Canada
  ➥  Property tax credit offer to residents in Manitoba.
Education Savings Plan (ESP) — Canada
A savings vehicle used to save for a child's post-secondary education.
  ➥  Offers tax-free earnings.
educational assistance payment (EAP) — Acronym
A payment from an RESP to assist a beneficiary in covering expenses associated with post-secondary education.
effective ageDefinition
An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
effective gross income (EGI) — Acronym
effective gross income multiplier (EGIM) — Acronym
effective interest rate (EIR) — Acronym
Effort Trust Company — Company Est.1978, Canada-wide, Important
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Electronic funds transfer (EFT) at the point of sale (POS).
electronic cashDefinition
Also known as e-cash. A system used to transfer cash over the Internet to pay for goods and service.
electronic commerceDefinition
The purchase or sale of products and services through an electronic system such as the Internet.
electronic data interchange (EDI)Definition
EDI is a system that companies use to exchange business information electronically, virtually eliminating paperwork.
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E-cheque — Electronic Data Interchange
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Electronic FilingEquitable Trust Company

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Electronic Data Interchange
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Equitable Trust Company
Page 3: Equity
Expense Ratio
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Extended Warranty

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