Backing definition

Backing means that the currency must be redeemable, at least in some proportion, into real or financial assets. In the case of a private currency, those assets must obviously be denominated in another money. Backing is necessary to withdraw money (by selling other assets through so called open market operations). It is also is necessary to stabilize the exchange rate (by selling official currencies if necessary). Because it is vulnerable to episodes of depreciation and crises of confidence, the stabilization of any immaterial currency may require some commitment of real resources.
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Examples of Backing in a sentence

  • Backing up the Customer’s data in order to prevent loss of information is not a violation of the confidentiality of the Customer’s information.

  • You can utilize Backing Services e.g. for storage, caching, messaging etc.

  • Backing Services include any service which an Application utilizes over the network as part of its normal operation.

  • Standard multicolored loop tenant improvement carpet shall be: Face weight: 32 oz.; Guage: 1/10 inch; Backing: Action Bac.

  • Backing out of the Westin Hotel stand onto ▇▇▇▇ and other such stands will not be permitted.

  • Installation and service of Heating, Air Conditioning and Air Handling Equipment, Duct Systems, Ventilation and Exhaust Duct Systems, Grills, Registers, Louvers, Diffusers, Single and Double Wall Vents, Convector Covers and Backing, Supply and Exhaust Fans and Evaporative Coolers.

  • For instructions on backing up your data files, see Section 5.9 - Backing Up the Database.

  • The Contractor shall verify bolt patterns for Backing Rings and the mating flanges.

  • In the event of any Backing down, except in the cases where the back down is due to grid security or safety of any equipment or personnel or such other conditions, the WPD shall be eligible for a Generation Compensation, from the Procurer, in the manner detailed below: Hours of Backdown during a monthly billing cycle.

  • Backing and handle attachment shall be sturdy enough for commercial use.