What does ARREARS SWAP mean?

ARREARS SWAP meaning in Law Dictionary

n INTEREST RATE SWAP with a floating RATE OF INTEREST this is certainly set-in arrears in place of in advance; thus, the price may be set 2 days before repayment day, without half a year plus 2 days before repayment day (as on a regular semiannual swap). Also called LIBOR IN ARREARS SWAPS.ARTICLES OF INCORPORATION A legal document filed because of the creators of a company that causes the issuance of a certificate of incorporation from an authorizing federal government or appropriate entity. The articles contain precisely the company