.

Correspondingly, what do you mean by notional?

Definition of notional. 1 : theoretical, speculative. 2 : existing in the mind only : imaginary. 3 : given to foolish or fanciful moods or ideas.

Beside above, what is the meaning of notional effect? notional consequential benefits, meaning thereby the petitioners will be given the benefit of seniority and fixation of their pay from directed to pay arrears of salary from the date of reappointment, consequent upon fixation of their salary notionally while counting.

In this way, what is meant by notional amount?

The notional value is the total amount of a security's underlying asset at its spot price. The notional value distinguishes between the amount of money invested and the amount of money associated with the whole transaction. The notional value is calculated by multiplying the units in one contract by the spot price.

What is the difference between notional and nominal?

Notional amount. The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument. This amount generally does not change and is thus referred to as notional.