Glossary of Municipal Securities Terms

SYNDICATE ACCOUNT LETTER

A document, also known as an agreement among underwriters, sent by the syndicate manager on a competitive new issue to the syndicate members establishing the syndicate rules, including the rights, duties and commitments of the senior manager and the other syndicate members with respect to the new issue of municipal securities being underwritten including the priority of allocating securities and the members’ participations, among other matters. See: AGREEMENT AMONG UNDERWRITERS.

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