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

Category: F

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

FRONT END RATIO

A ratio among several used by lenders to determine an applicant’s financial ability to pay back a loan. Contrast to the back end ratio as only applied-for loan installments are considered. The

FRUSTRATION OF CONTRACT

Legal termination of a contract. Forgives non-performance. Except where contract terms override this implied legal provision, it automatically discharges the contract. It is not acceptable as an reason against foreseeable circumstances. It

FULL CONTAINER LOAD (FCL)

A shipping container, under the risk and account of the shipper or consignee, being a standard twenty or forty foot, completely loaded and unloaded. Attracts lower freight rates in contrast with loose,

FULL SERVICE BROKER

Total-service provider firm or person, Executing orders, and giving investment advice are typical services. Basing research on specific items can be an additional fee. Contrast discount brokers.

FULLY DEPRECIATED ASSET

Valuation of useful life expenditure of an asset equals the over-time time-bound spread-of-cost of that asset. Worth only as salvage.

FUTURE ADVANCES CLAUSE

An agreement within a mortgage allowing a borrower to get more money and increase a mortgage principal without redoing all existing paperwork on the existing mortgage. P

FAMILY LIFE CYCLE

An idea that tries to show the effect of time on a family through phases that are reflected in the income and consumption.

FATIGUE STRENGTH

The cycles of stress a character can take without failure. The environment can affect this. AKA fatigue limit.

FED

A nickname for the Federal Open Marked Committee or Federal Reserve System.

FEEDER FUND

An investment that passes through for a larger investment plan.

FICTITIOUS ASSET

An asset made by accounting tha is not tangible but represents cash. It creates a fake asset that is written off ASAP.

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