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The conduit will usually pool enough funds from the mortgage-back securities before reissuing the funds to another party. A conduit may be used if a borrower is unable to meet the requirements of the original lender. See also conduit borrower, conduit issuer. The water was leaking, so I figured that there must be some kind of problem with a conduit that was causing the leak.
consignment note. Definition. A shipping agreement between the consignor of a shipment and the carrier of the shipment, which records the receipt of goods for shipment to a specified destination. The consignment note also specifies the consignee of the shipment and the fee for shipment, but unlike a bill of lading, is not a document of title. Also called a waybill.