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

Category: F

FLEXIBLE WORK

When a worker gets to decide how work will be done and how to schedule. Limits may be put on this regarding core time coverage. Limits are also put on the minimum

FLOATER

(1) In INSURANCE, an ENDORSEMENT that allows coverage of moveable property to be transferred with the property between locations. (2) See FLOATING RATE NOTE.

FLOOR TRADER

A member of the stock exchange that executes orders on their account. Refer to floor broker.

FLUOROSIS

Losing teeth or joint deformities that is caused by flourides in water and food.

FOLLOWSHIP

Taking direction from a leader in a company. Both leaders and followers are needed to make a company work.

FOOD WEB

Food chains or relationships that nutrients pass on from one species to another.

FORM 10-K

Directors’ report in an official US format.

FORMULA INVESTING

Using the movement of specific indices at a preset limit, below or above a values, preset limit in the decision to transfer funds among different types of investments, as in from stocks

FORWARD EXCHANGE RATE

Contracted rate and future, or forward, date for currency spot (between two days) or exchange (more than two days) purchase and sale.

FORWARD PRICING

Contract or order budget negotiation preparation by projecting variable costs.

FOUL BILL OF LADING (B/L)

B/L documenting carrier issues with the goods to be shipped. These adverse remarks or notations are known as ‘clauses’. Issues with the goods or its packaging are varied. Examples: look wet, damaged,

FRACTIONAL DISTILLATION

Separation process using the different boiling points of various compounds of volatile components in a mixture. As the compound boils into vapor, components are split from the remaining brew. As the vapor

FRANCHISE CLAUSE

Marine insurance position other that a ship sinking or stranding requiring a claim be a certain minimum amount or percentage of loss.

FREE CAPITAL RATIO

Measures bank’s ability to use free capital without having to liquidate its fixed assets to absorb bad debts. Formula: Free capital divided by bad debts.

FREE TRADE ZONE (FTZ)

Duty-free area in an airport, seaport, or other designated area. After paying the required duties, allows for goods stored, displayed, assembled, or processed for re-export or general market entry in the importing

FREEPOST

Typically free-to-consumer reply-mail that a company pays for as an incentive to the consumer to reply. Postage plus a fee for each piece of mail received is the obligation of the company

FREIGHT RATE

Transportation carrier cost to transport goods. Different rates apply for type of goods, distance, weight, size, methods, and directions.

FRICTIONAL UNEMPLOYMENT

Measurable time out-of-work, like a contractor who is between contracts. Also, the time for an employee laid off and seeking other work. Temporary unemployment due to time lags job hunting if already

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