Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: B

BACK LETTER

An agreement that lists obligatios and rights that are not on the principal agreement.

BACKWARD FROM PERFECT

When a scenario is built on an imagined future and works backward to see what is needed to get there. Refer to future backward and future forward.

BALTIC EXCHANGE

The freight market that ships dry bulk cargo. A broker arranges the shipping. It’s situated in London and also sells ships and shipping agreements. It was started in 1744. The full name

BARBELL-SHAPED PORTFOLIO

When a portfolio puts a major amount into short and long maturity bonds. The remaining funds are placed on bonds that mature immediately. The graph of this looks like a barbell. Refer

BARRIERS TO EXIT

1.something that stops a firm from leaving uncompetitive markets or removing a nonprofitable product off the market. 2. restrictions put on industries who want to close down or restart. It is made

BATCH LOT

The quality possible under uniform conditions in the operations process.

BEHAVIORAL DATA

Information used to market. Refer to attidudinal data and demographic data.

BELT AND SUSPENDERS

A bank that is cautios about lending. Risk is avoided with redundant safety procedures.

BENZENE (C6H6)

A highly flammable hydrocarbon. Its a solvent and feedstock. Products such as paint, plastic, and rubber have it in them. It comes frm toluene or coal. It is a carcingoen. AKA benzol,

BEST PRACTICE

The way that shows results every time. Its the benchmark. REfer to best in class and leading practice.

BID SHOPPING

Putting one bidder against another to get lower prices. It can happen before or after submission.

BILATERAL COLLATERAL

A COLLATERAL agreement between two COUNTERPARTIES that requires either party to post security, depending on the value of the PORTFOLIO of contracts and the level of unsecured credit limits that have been

BLACK FRIDAY

The date September 24, 1869 when speculators tried to corner the gold market. This started a panic and a depression resulted.

BLAME CULTURE

When an organization has the attitude of not taking risk or responsibility. This is common when fear of prosecution or criticism is present.

BLIND EMBOSSING

Making raised logos on paper that uses no ink. Two metal dies are used to create this look. When paper is between the dies the embossing ocurs. Refer to heat embossing.

BLOCKING SOFTWARE

A program that does not access certain websites. This is done according to content or an address.

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