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

Category: B

BASING RATE

The point of reference for freight rates that any changes are made to before it arrives at its destination.

BED AND BREAKFAST DEAL

In the UK this is when a holder sells late at night on the end of the financial year. They buy it back the next morning to keep the portfolio going. It

BELLY UP

A failed venture, or a company that has filed for VOLUNTARY BANKRUPTCY or INVOLUNTARY BANKRUPTCY

BENEFIT SEGMENTATION

When the market is segmented by differences in benefits a product has to offer. It tries to define a niche for promotion.

BERTRAND GAME

When two suppliers compete. They choose their own selling price and than meet demand. The cheaper of the two will probably have more customers. Sometimes the demand is split in half. They

BEST INTERESTS

When a party is delegated to take the best action for another party in the current situation. This is done when not all possibilities can be prepared for or when fast choices

BIANNUAL

An alternate term for biennial or twice yearly.

BILL PRESENTMENT

1. giving a bill of exchange to a bank to be accepted as payment. 2. sending an electronic invoice so a customer can review charges before making a payment.

BINGO CARD

An ad sent in the mail that is the size of a post card. It has a space for a stamp on it as wel as the advertisers address.

BLACK-BOX ACCOUNTING

Accounting showing income and expenses in a not normal way. This is done to bury financial issues.

BLIGHTED AREA

An area like a city with abandoned buildings or in disrepair. Refer to browfield site or greenfield site.

BLOCK TRADING FACILITY (BTF)

A facility offered by certain FUTURES EXCHANGES where two parties agree to cross (buy/sell) a large transaction away from the exchange in order not to skew prices. Once a transaction is concluded

BLUE CROSS

Insurance that covers hospital treatments with some restrictions. Refer to blue shield.

BOGEY

The slang way of refering to the performance of an investment.

BONUS-PENALTY CLAUSE

A bonus offered for completing a project without cost overruns. A penalty is charged in the amount of any overcharges. The carrot and stick approach keeps projects on budget and schedule.

BOOKING

The arrangement with a customer and their goods that is a complete sale. AKA reservation and transaction.

BOSTON PLAN

A plan where insurers agree that they will not reject property coverage on residential buildings in a slum area. Insurers agree to accept the coverage until there has been an inspection and

BOUNCED CHECK

Another common term that is used when a check is used for a person that has insufficient funds.

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