We're going to try to get "aval" rolling as slang for "available," as in "what's your aval for the movies tonight?" In the meantime, an aval relates to payment guarantees.
An aval is an endorsement added to a financial instrument by a third party, guaranteeing payment. It's typically given by a bank as an additional assurance that payment will be made. Avals apply to things like checks, bills of exchange, bonds and notes. They are more popular in Europe (like train travel and electronic music) due to regulatory differences between the EU and the U.S.
Related or Semi-related Video
Finance: What is Counterparty Risk?9 Views
Finance a la shmoop what is counterparty risk?
alright here's you the party and here's the guy you're contracting with to sell [Woman and man stood side by side]
18 tons of bricks or buy a line of credit for your flower shop or sell a
futures contract with the right to buy oil at 80 bucks a barrel for the next [Person signs contract]
two years so you're the party and he's the counterparty and the yin and yang of
the party and here's the risk yeah well the counterparty risk is just
that the person you contracted with doesn't live up to their end of the
bargain you pay them good money you sign a good contract all lawyered up and [Stack of money and contract appears]
stuff and then they split like totally split disappeared sea men choose the
bottom of the ocean maybe they went to Bora Bora
maybe they got facial surgery in the Philippines you know they do that now [George Clooney in a surgical bed]
well when that happens you will probably feel like crying and you should its your
counterparty you can cry if you want to come on that was a good reference people [Man singing]
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