Unliquidated obligations

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)

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.