There have been times in the past when it could take up to 12 weeks or more to get a passport. More recently, the processing time has been 4-6 weeks for routine service. When demand is low, this can drop down to only 3-4 weeks. Expedited services usually takes 2-3 weeks although it can take longer.
DEFINITION of 'Warrant'. A derivative security that gives the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue as a sweetener to entice investors.
There are two types of warrants: call warrants and put warrants. A call warrant gives a right, but. not an obligation, to, buy a fixed quantity of an asset (such as shares) for a specified price within. a limited period of time. A put warrant gives a right, but not an obligation, to sell a fixed quantity.