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Accrued: shall mean the right earned that has not been yet been collected.

Adjustability: an adjustment in the value of a financial instrument to keep it unchanged with respect to a variable(for example, the CPI).

ADR (American Depositary Receipts): negotiable certificates issued by a bank of the United States of America, representing the ownership of the holder of such certificates on stocks issued by corporations registered in other countries.

Amortization: gradual reduction of a debt through equal periodical payments, in enough amount to pay the interests and write-off the debt upon its expiry. Whenever the debt is originated in real assets, periodical payments often include enough amount to pay taxes and insurance on the property.

Back-purchase Agreement: an agreement through which a party sells a security and commits itself to purchase it back within a certain period.

Cash Stocks: shall mean stocks issued by a corporation with the intention of obtaining funds, which have to be underwritten and paid by stockholders or third parties. Price at which these will be offered shall be freely determined by the stockholders' meeting.

Competitive Bidding: a process through which different tenders are obtained for the award of a certain value.

Compound Interest: from the accounting perspective, it is the way to calculate the interest, in which interest is accrued to the capital during each calculation period. This figure is used as a base to calculate interests in the following period. The more frequently the calculation is made, the highest is effective interest for the creditor. From the financial point of view, compound interest is generated by the periodical sum of the simple interest to the principal, wherein this new base constitutes the principal capital for calculation of subsequent interests.

Coupon: it is a document specifying the right to receive a determined money flow corresponding to the payment of interests and amortization (or only interests), every certain period of time, defined in advance. The coupon is usually attached to the same document that generates it.