|
Paymaster
A paymaster is someone appointed by a group of buyers, sellers, investors or lenders to receive, hold, and dispense funds, commissions, fees, salaries (remuneration) or other trade, loan, or sales proceeds within the private sector or public sector. Specific titles within the British government are Paymaster of the Forces, Paymaster-General and Paymaster of Pensions. Purpose The primary purpose of a paymaster is to receive fees in escrow by buyers in a large transaction, and disburse to the sellers and brokers on the transaction. A paymaster is usually, but not required to be, a lawyer (also known as a 'lawyer paymaster'). When dealing with commission payments on contracts dealing with large amounts of money (such as Oil, Gas, Steel, Iron, Gold, MTN's, VG's, T-Strips, and other instruments), most banks in the United States are very wary of handling such large amounts of money. In addition, most buyers and sellers of such transactions want to place the money with a neutral third p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paymaster Of The Forces
The Paymaster of the Forces was a position in the British government. The office was established in 1661, one year after the Restoration (1660), Restoration of the Monarchy to King Charles II, and was responsible for part of the financing of the British Army, in the improved form created by Oliver Cromwell during the Commonwealth of England, Commonwealth. The full title was Paymaster-General of His Majesty's Forces. It was abolished in 1836, near the end of the reign of King William IV, and was replaced by the new post of Paymaster General. History The first to hold the office was Sir Stephen Fox (1627–1716), an exceptionally able administrator who had remained a member of the household of King Charles II during his exile in France. Before his time, and before the English Civil War, Civil War, there was no standing army and it had been the custom to appoint treasurers-at-war, ''ad hoc'', for campaigns. Within a generation of the Restoration, the status of the paymastership b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paymaster-General
His Majesty's Paymaster General or HM Paymaster General is a ministerial position in the Cabinet Office of the United Kingdom. The incumbent Paymaster General is Jeremy Quin MP. History The post was created in 1836 by the merger of the positions of the offices of the Paymaster of the Forces (1661–1836), the Treasurer of the Navy (1546–1835), the Paymaster and Treasurer of Chelsea Hospital (responsible for Army pensions) (1681–1835) and the Treasurer of the Ordnance (1670–1835). Initially, the Paymaster General only had responsibilities in relation to the armed services but in 1848 two more offices were merged into that of Paymaster General: the Paymaster of Exchequer Bills (1723–1848) and the Paymaster of the Civil Service (1834–1848), the latter followed by its Irish counterpart in 1861. They thus became 'the principal paying agent of the government and the banker for all government departments except the revenue departments and the National Debt Office'. From ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paymaster Of Pensions
In 18th century Britain, the Paymaster of Pensions was the official in charge of payments of Crown pensions and bounties. The first paymaster was Edward Nicholas in 1703, and the post was abolished in 1782 by the Civil List and Secret Service Money Act 1782 (22 Geo. III, c. 82). List of Paymasters of Pensions *1703–1707 Edward Nicholas *1707–1713 Hon. Spencer Compton *1713–1715 Edward Nicholas *1715 (August–September) Edward Godfrey *1715–1718 William Clayton *1718–1731 Walter Chetwynd *1731–1742 William Stewart *1742–1744 Edward Hooper *1744–1745 Benjamin Keene *1745–1755 Hon. Charles Compton *1755–1763 William Hall Gage, 2nd Viscount Gage *1763–1765 Richard Neville *1765–1782 William Hall Gage, 2nd Viscount Gage External linksInstitute of Historical Research 1703 establishments in England 1782 disestablishments in Great Britain History of the British Isles Pensions A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Sector
The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector. Diversification In free enterprise countries, such as the United States, the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China, the public sector makes up most of the economy. Regulation States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infrastructure, public transit, public education, along with health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis. Organizations that are not part of the public sector are either part of the private sector or voluntary sector. The private sector is composed of the economic sectors that are intende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Her Majesty's Government
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister (Rishi Sunak) , appointed = Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 ministerial departments, 20 non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Government or UK Government), officially His Majesty's Government (abbreviated to HM Government), is the central executive authority of the United Kingdom of Great Britain and Northern Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escrow
An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word , meaning a scrap of paper or a scroll of parchment; this indicated the deed that a third party held until a transaction was completed. Types Escrow generally refers to money held by a third party on behalf of transacting parties. It is mostly used regarding the purchase of shares of a company. It is best known in the United States in the context of the real estate industry (specifically in mor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawyer
A lawyer is a person who practices law. The role of a lawyer varies greatly across different legal jurisdictions. A lawyer can be classified as an advocate, attorney, barrister, canon lawyer, civil law notary, counsel, counselor, solicitor, legal executive, or public servant — with each role having different functions and privileges. Working as a lawyer generally involves the practical application of abstract legal theories and knowledge to solve specific problems. Some lawyers also work primarily in advancing the interests of the law and legal profession. Terminology Different legal jurisdictions have different requirements in the determination of who is recognized as being a lawyer. As a result, the meaning of the term "lawyer" may vary from place to place. Some jurisdictions have two types of lawyers, barrister and solicitors, while others fuse the two. A barrister (also known as an advocate or counselor in some jurisdictions) is a lawyer who typically specia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the mind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bar
A state bar association is a bar association that represents or seeks to represent the attorneys practicing law in a particular U.S. state. Their functions differ from state to state, but often include administration of the state bar examination for admission of attorneys to practice law, regulation of continuing legal education and other requirements, collection and monitoring of attorney client trust accounts, collection of fees and discipline of attorneys for ethical or other violations. Some state bars also provide services for members such as maintaining a directory of attorneys in the state, facilitating networking and social events for attorneys, publishing a bar journal and providing classes to fulfill these CLE credits requirements. Voluntary and mandatory bars A mandatory or integrated bar association is one to which a state delegates the authority to regulate the admission of attorneys to practice in that state; typically these require membership in that bar association ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
_by_John_James_Baker.jpg "Click for more on -> Paymaster Of The Forces")
.jpg "Click for more on -> Paymaster-General")
