The Law Dictionary

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

Category: F

FREE MARKET

Only the forces of demand and supply constrain deals of buyers and sellers that they wish to make. Example is a stock market. Also refer to market economy and open market.

FREE TRADE AGREEMENT OF THE AMERICAS (FTAA)

FTAA members are: Antigua & Barbuda, Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Canada, Colombia, Chile, Costa Rica, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama,

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 INVOICE VALUE

Beneficiary able to draw full invoice amount rather than partial value. Documented as a notation on a letter of credit.

FULL TEXT DATABASE

Excluding drawings, graphics, pictures, an online database fully accessible, providing indexed articles in full text from one or more journals.

FULL-YEAR FORECAST

Year-ahead prediction of various financial and logistic needs for a business. Based on one or more prior years of business performance. It covers a range of business areas, mainly hiring and capital

FUNCTIONAL ORGANIZATION

The classic organizational structure. Hierarchically grouped employees, clear line management authority, and upward reporting to the single top leader. Downward hierarchy, with one top person, distinct lines of reporting, authority, and communication.

FUNDAMENTAL FORECASTING

Predictive analysis of future results. Compares ties between exchange rates and economic variables. Seeks qualitative / quantitative view that affect rates of exchange. Political factors and macroeconomic data are included.

FUNDRAISING

The actions of seeking money for a noncommercial cause by asking for financial support, such as grants.

FUTURE BACKWARD

Scheduling technique where a specific project completion date, possibly years in the future, must be met. From that future date back to current time, the steps and the durations needed are calculated

FACILITY TAKEOVER

Identity theft involving impersonating another party to get financial information via mail.

FAIL SAFE

Equipment that rarely fails because it is used often and is backed up automatically. Nothing is 100% safe so its preferred to say fault tolerant.

FAIR TRADE

When farmers fair treatment is agreed upon. A contact is made to pay a fair price for products.

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