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

Category: F

FLUCTUATING WORKWEEK

Paying overtime to a worker with different shifts per week. It makes it easy for accountants.The hourly pay must be above minimum wage. They are paid the same amount each week no

FOIL

A material that is thinner than .15mm. Anything thicker is film. Anything thicker than .25 mm is a sheet.

FOOD BORNE DISEASE

Something carried by food that is contaminated. It can be microbes, metals, solvents, or substances harmful to the body.

FOOTPRINT RATIONALIZATION

The act of streamlining faclities to get rid of redundancy. It is used to decide the size of an operating facilty.

FORMAL PLAN

A written, outlined retirement plan, stating specific, legally-enforceable rights available to eligible employees.

FORWARD

A bilateral OVERTHECOUNTER DERIVATIVE that permits the purchaser to buy, and the seller to sell, a reference ASSET at a predetermined future price and future date. Unlike a SWAP, a forward contract

FORWARD MARGIN

Commodity or currency spot price today minus the price on a set future date.

FORWARDER’S AIR WAYBILL (AWB)

A receipt for the goods shipped with other cargo as one consignment. Consolidation is done to take advantage of better freight rates. Freight forwarder or consolidator issues it to the shipper. The

FOUR UNITIES

Unity of interest, possession, time, title. Joint-tenancy agreement’s legal requirements. (1) Unity of interest is the requirement that in duration, extent, and nature, all joint-tenants must have the same interest . (2)

FRAME

The beginning and end of a transmission packet. Scopes a variable-size packet of data bits in a particular format. Codes, called flags, delimit this scope. This scope usually contains its own control

FRAUDULENT TRADING

Intentional illegal use of the business practices of contracts and marketing to essentially steal product, money, assets from another entity. Defrauding creditors using a deliberately designed business activity. For example, knowing that

FREE EXAMINATION PERIOD

While enjoying insurance coverage, a new policy-owner is allowed to review and return a policy for full refund of the paid premium. Typically, a 10-day period. Known also as free look period.

FREE STANDING INSERT

A reply coupon or discount voucher inserted in a newspaper or magazine as an advertising brochure, card, or leaflet.

FREEGANISM

The practice of liberal salvage, product reuse, bartering, and making products by hand. It is a lifestyle encouraging minimal consumption and little use of a capitalist economy.

FREIGHT ALL KIND (FAK)

Shipping industry term. Tariff class when paying one freight rate of a pooled collection of different goods for shipping. Also known as a consolidated shipment.

FREQUENT FLIER PROGRAM

Advertising program by an airline for rewarding repeat, oft-airtravelers with mileage toward free flights and other goods and services. Also refer to frequent lodger program.

FRONT DESK

Hotel or restaurant’s customer reception desk.

FRONTIER MARKETS

Less advanced and mature developing countries’ capital markets. Seen as more risky, yet, payoff can be high. These investable stock markets are not as strong in emerging markets.

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