Problem

Unliquidated obligations

Nature:

Unliquidated Obligations means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or unliquidated at such time, including any Secured Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter of credit issued by it; (ii) any other obligation (including any guarantee) that is contingent in nature at such time; or (iii) an obligation to provide collateral to secure any of the foregoing types of obligations. (https://www.lawinsider.com/dictionary/unliquidated-obligations)

Incidence:

The external auditors of the accounts of international institutions detected 23 unliquidated obligations (ULOs) in the FAO accounts for the biennium ended 31 December 1993; as a result FAO identified US$3.1 million invalid liabilities.

Broader Problems:
Unpaid debts
Related UN Sustainable Development Goals:
GOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal
Problem Type:
G: Very specific problems
Date of last update
21.04.2022 – 09:04 CEST