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

Category: F

FREE STANDING STORE

In contrast to being in a mall or shopping center, a retail store singly on a street.

FREIGHT BILL

Shipment charges applied to a carrier’s invoice. Known also as freight invoice.

FREQUENT LODGER PROGRAM

Advertising program by a hotel or motel chain for rewarding repeat travelers with rewards toward free stays, upgrades, and other goods and services. Also refer to frequent flier program.

FRONT END

The facing part, or start, or leading point in an interface.

FROZEN ACCOUNT

Bank account legally suspended. No monies can go in or out. Until its legal beneficiary or a heir is appointed, declared, or found, a deceased customer’s account is automatically frozen. Such an

FULL AND ACCURATE RECORD

(1) exact transaction copy; (2) sufficient to satisfy the need for retention; (3) authentic, undistorted evidence of being what it says it is; (4) complete with all information needed to represent the

FULL PAYMENT LEASE

No-loss lease. Leased asset or property seller or owner or lessor recovers the full cost of the item. This includes the original cost plus profit margin, interest, and other cost no matter

FULL TIME EQUIVALENT (FTE)

The ratio of total paid hours during a period to the total of working hours in that period. (part time, full time, contracted) . Typically done for a Monday-to-Friday period covering part

FUNCTIONAL AREA

1. Grouping of individuals in the organization, on the basis of the business work each performs. 2. Grouping of activities or processes based on their need to accomplish one or more tasks,

FUNCTIONAL STRATEGY

Organizational plan for functional areas such as human resources, marketing, R&D, MIS. Other corporate and business strategies are supported by each org plan, customized to its sector and industry.

FUNNEL SINKING FUND

Bond issuers retire outstanding bonds, especially high-coupon issues, using one annual sinking fund requirement. A repeatable, advantageous method.

FUTURES MARKET

Trading market for buying and selling commodities and future delivery contracts. Provides a place for hedging and speculating, complementary activities. Mitigates wild price fluctuations when gluts and shortages occur.

FACTOR COST

The cost of the factors of production used to make something.

FAIL TO RECEIVE

A situation where a buying DEALER has not received securities from the selling dealer, and will thus not make its payment. Fails are commonly used as a measure of operations-based PROCESS RISK.

FAMILY DEPENDENT

A party that is covered because they are the spouse or child of the policyholder.

FAT TAIL

A portion of a statistical distribution that is wider or larger than expected, increasing the probability that an extreme or unexpected value will result.

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