Category: C

The repayment, to RECEIVERS of a company in BANKRUPTCY, of any PREFERENCE payments, or monies deemed to have benefited one party at the expense of others during the period of FINANCIAL DISTRESS.

Issuer of a debt instrument requiring the action of liquidating the instrument before full amortization. When the outstanding principal is less than 10% of the original debt, this action is often triggered

Governor’s or president’s power to pardon a person convicted of a criminal offense or to commute the related sentence. A specially appointed committee is accountable for recommendations.

Same meaning as closed competitive bidding.

Available goods in complete sets only and not sold as individual pieces. There is no guarantee that the stock will be replenished when inventory is depleted. This is in contrast to open

A contractual agreement where an institution and a COUNTERPARTY in DEFAULT agree to ACCELERATION, termination, and NETTING of all financial transactions. See also PAYMENT NETTING, SETOFF.

Higher-than-discount airfare that allows penalty-free changes and refunds.

A special-purpose computer language developed in 1960s. The US Department Of Defense collaborated with computer manufacturers to develop COBOL for doing administrative reports. It stands for COmmon Business Oriented Language.

A simple rough measure of relative dispersion in probability distribution. Written as a ratio of standard deviation to mean. It serves mainly as a measure of relative risk. Known also as Pearson’s

A person or firm who shares in the loss as document in an insurance policy.

Cooperative organization with a goal of completing a project or solving a problem for learners of varied abilities and interests to work together as small groups.

Items such as antiques, art, books, coins, that are rare and valuable, bought for their potential future worth as an investment. This worth usually increase in inflationary times and deceases in deflationary

The monies generated by the project financed by the bond, as well as backed by the ‘full faith and credit’ of the government agency that generated the bond are the remuneration sources

Business insurance protecting against loss that cannot be predicted or prevented.

A good that is sold freely to the public. It can be agriculture, fuel, or metals. It is traded in bulk in the commodity or spot market.

When many firms gather through a single goal. It can be shared employees and management, shared profits or loss, or ownership. If they seem to be bonded than it is sometimes assumed.

The right of a beneficiary to accept a lump sum instead of payments.

The legal name of a firm. It is on all the documents and payment that are made to the company. AKA corporate name.

A way of advertising that places one product as better than another by comparison. The other brand must be kept anonymous to avoid a law suit. AKA comparative advertising or competitive advertising.

A short term loan the IMF advanced by the Compensatory and Contingency Financing Facility. The member can cover shortfall due to an unpredictable circumstance.