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

Category: F

FORMAL BID

Submittal of a written bid in a sealed envelope that will be opened at a specific date and time, complying with a prescribed format and submission rules.

FORTUNE 100

The 100 largest US public and privately-held companies are listed based on market capitalization or enterprise value. It is an annual ranking by Fortune magazine.

FORWARD FREIGHT AGREEMENT

It is a principal-to-principal contract for betting on the price of a particular freight-route on a particular date. Shippers and ship owners use it as a hedge against a volatile ocean freight

FOUR COLOR PROCESS

Full-color printing technique. All colors of the spectrum exist from proper proportion mixes. Cyan, magenta, yellow, and black together are called CMYK, used for the mixtures. These are also called the four

FRACTIONAL SHARE

Dividend reinvestment plans use an accounting entry of less than one share of stock.

FRANK-EFFECT LEVEL (FEL)

Statistically significant increased severity or frequency of a level of exposure producing unmistakable and irreversible effects, impairment or mortality.

FREE PORT

Imported merchandise may be stored duty-free pending re-export or duty-paid entry into the importing country in this free-trade zone around a port area. Examples are Hong Kong, Isla Margarita, Panama, and Singapore.

FREEDOM OF CONTRACT

Able to enter into whatever type of legally binding agreement one wishes with no legal limitations other than being of legal age to do so.

FREEZE OUT

Leaving specific people or members out of decisions, or unable to make progress on work, or away from worthwhile information. Typically done by controlling or majority members of an organization against the

FREQUENCY DISTRIBUTION

Number of occurrences a value or series of values repeat in a dataset. Step-column charts or histograms, or a line chart or histograph is used to plot the distribution. An example is

FRIENDSTER

Launched in 2002. The predecessor to similar sites MySpace and Facebook. Social networking website whose popularity has declined due to competition. Intended to have worldwide individuals become friends through social, online communication

FRONT LOADED LEASE

Equipment or property lease time-bound with rental payments higher for the starting periods, but decreasing as the lease period winds down.

FUEL OIL

Residential, industrial, transportation energy source as a residual refinery product. Various types are classified by their specific gravity. The higher the specific gravity, the higher the category number. Heat energy in residences

FULL DISCLOSURE

1. In Accounting, this is the practice of disclosing all material facts truthfully and completely to avoid any misunderstanding. 2. In Patenting, this is the disclosure of all material facts to avoid

FULL SERVICE RESTAURANT

Provides complete and varied breakfast, lunch, and dinner menus, along with a wide selection of foods and beverages, and table service.

FUNCTIONAL MANAGEMENT

On the basis of type of work performed, arranging of an organization into managed departments or units.

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