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LSDefine

Simple English definitions for legal terms

GIC

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A quick definition of GIC:

A GIC, or guaranteed investment contract, is a type of investment where an investor gives their money to someone else, like a company or an insurer, and expects to make a profit without doing any work themselves. It's like giving someone money to take care of for you, and they promise to give you back your money plus some extra money at the end of a certain period of time. It's a way to make money without having to do anything yourself, but it's important to be careful and make sure you understand the risks involved.

A more thorough explanation:

Definition: GIC stands for guaranteed investment contract. It is an investment contract in which an institutional investor, such as a pension fund, invests a lump sum with an insurer. The insurer promises to return the principal amount and a certain amount of interest at the end of the contract.

Investment contract is a type of agreement or transaction in which a party invests money in expectation of profits derived from the efforts of a promoter or other third party. In such an arrangement, the investor typically does not receive the right to exercise control over the managerial decisions of the enterprise.

For example, if a pension fund invests $1 million in a GIC with an insurer, the insurer promises to return the $1 million plus a certain amount of interest at the end of the contract, regardless of the performance of the underlying investments.

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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