How is Financial Control defined in a legal contract?
- Financial Control means the methods and rules used by an [organization] to monitor and manage the direction, allocation, and use of its financial resources. Seen in 3 SEC filings
- Financial Control means the accountability for overseeing the proper management of resources. This management is essential to ensure the economic validity, effectiveness, efficiency, and purposefulness of financial transactions. Seen in 1 SEC filing
- Financial Control means any type of control related to the management of public money and activities, exercised using specific powers and procedures, including budget control, and financial inspection control. Seen in 2 SEC filings
Please note that specific words mentioned in the original context such as 'Union' have been replaced with [organization] to make the definition generic and globally applicable.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of financial control' yourself to verify these results. We are always keen to point people to source documents.
.png)
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Financial Control means an [organization]'s methods for managing and overseeing its financial resources.
Relevant Contract Types
Relevant Circumstances
- Initial corporate setup
- Series funding rounds
- Partnership arrangements
- Corporate mergers
Relevant Sectors
Genie Definition 2
Financial Control means the accountability for ensuring the economic validity, efficiency, and purposefulness of financial transactions.
Relevant Contract Types
Relevant Circumstances
- Accounting activities outsourcing
- The structuring of new ventures
- The appointment of external vendors for financial functions
- Collaboration on significant projects
Relevant Sectors
Are you creating, reviewing or negotiating a document?
🚀 Try our AI Legal Assistant! It can suggest a definition just for your specific needs (Simply import your contract, then ask it to draft a definition suitable for your document, that's it!)
Financial Control means an [organization]'s methods for managing and overseeing its financial resources.
.png)
.png){kind=icon}
