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Termination of employment or separation of employment is an employee's departure from a job and the end of an employee's duration with an employer. Termination may be voluntary on the employee's part ( resignation ), or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff .
Verification of employment. Verification of Income and Employment (VOIE) is a process [1] used by banks and mortgage lenders in the United States to review the employment history of a borrower, [2] to determine the borrower's job stability and cross-reference income history with that stated on the Uniform Residential Loan Application (Form 1003).
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [1]
Sometimes called a "budget letter" or proof of income letter, the benefit verification statement from Social Security is used for several different instances where proof of your status or income is...
Mortgage underwriting is the process a lender uses to determine if the risk of offering a mortgage loan to a particular borrower under certain parameters is acceptable. Most of the risks and terms that underwriters consider fall under the three C's of underwriting: credit, capacity and collateral . To help the underwriter assess the quality of ...
Consequential damages, otherwise known as special damages, are damages that can be proven to have occurred because of the failure of one party to meet a contractual obligation, a breach of contract. [1] From a legal standpoint, an enforceable contract is present when it is: expressed by a valid offer and acceptance, has adequate consideration ...
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