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

Category: F

FREQUENT FLIER PROGRAM

Advertising program by an airline for rewarding repeat, oft-airtravelers with mileage toward free flights and other goods and services. Also refer to frequent lodger program.

FRONT DESK

Hotel or restaurant’s customer reception desk.

FRONTIER MARKETS

Less advanced and mature developing countries’ capital markets. Seen as more risky, yet, payoff can be high. These investable stock markets are not as strong in emerging markets.

FULFILLMENT CENTER

A place where orders are received, picked, packaged, and readied for delivery to the customer. Sometimes these location are independent third-party outsources used to complete taken orders.

FULL LINE PRICING

Retailing a product family with relative prices and package discounting the line. Also refer to product family.

FULL TIME EMPLOYEE

A person working 35 to 40 hours each week, every week. Refer to salaried worker.

FUNCTIONAL

Capable of performing one or more practical activities. Synonyms are worthwhile, useful, working.

FUTURES CONTRACT MULTIPLE

Standardized, constant value stated by an exchange. Futures stock index calculates to a dollar value when a traded commodity price is multiplied by this constant.

FACILITY OF PAYMENT CLAUSE

A rule in life insurance that lets the insurer pay some proceeds to a relative that is entitled to the policy. It minimizes legal costs on estates.

FAIL SOFT

Equipment that fails in a selective way by shutting down the nonessential functions. It keeps primary work going until it can be fixed.

FAMILY AUTOMOBILE POLICY

Insurance for injury or property damage to another party or vehicle. It is nonexistent anymore being replaced by auto insurance.

FAT CLIENT

A computer that is not dependent on the applications. It does its job without a network connection. It reduces server load. Refer to thin client.

FEASIBILITY PHASE

A phase before design where a concpet is looked at to see if its worthwhile.

FEED BACKWARD

Taking the output and returning it to the earlier step for corrections.

FHA PREPAYMENT EXPERIENCE

The mortgage loans outstanding each year after it was started. It is a percent that effects survival rates for the FHA insured mortgage loans.

FILER

A party that files an official document at its office or deposit place.

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