Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Settlement Date
The settlement date is the date on which the full payment for a loan, asset or security is actually made. In loans, it is also known as the drawdown date because it is when the loan becomes fully drawn and ownership is officially handed over to the borroiwer. The settlement date need not be the same as the issue date; that is, you can be issued the security or asset before you make full payment. Mortgage and car loans are common examples: you can use (but not officially own) the car or property while making payments.
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