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

Category: Finance Dictionary

FREEDOM OF THE SEAS

The understanding that nonterritorial waters are open to all nations and people for fishing, laying of submarine cable or pipeline, navigation, overflight, scientific research, and so on. In times of war and

FREEZING POINT

Transitioning temperature point where liquid turns solid. Each liquid compound and element has a unique point. For example, at normal atmospheric pressure that point for pure water is 0

FREQUENT FLIER

Repeat air-traveler. Typically a member of an airline mileage program. Also refer to frequent lodger.

FRONT COMPANY

This is a term used for an entity, be it an individual or group or organization used to inhibit the identification of an owner or member of another company or organization. In

FRONT-END FEE

Borrower payment to the mortgage broker. Contrast to lender-paid backend fees.

FULFILLMENT

1. In Psychology, it is satisfaction of reaching a goal, the euphoria of success and achievement. 2. In Retail, it is the completion of picking inventoried product to satisfy a customer’s order,

FULL LINE FORCING

Sometime illegal stance of Producer or supplier insistence that a dealer carry a full product line range. Not considered illegal if business need reason is legitimate .

FULL THEFT COVER

Ordinary theft or burglary insurance policy. Unavailable to retail stores or hotels. Includes casual theft and other dishonest activities.

FUMES

Visible or invisible (1) inorganic or organic liquid evaporations, (2) incomplete combustion exhaust, like from a gasoline engine, (3) chemical reaction exhaust, (4) heated metals or metallic compounds exhaust of submicroscopic particulate

FUNGIBLE

Recognized as being uniform, exchangeable, and a worthwhile substitute. Applies in the economy as cash for cash, corn for corn, and gold for gold. Any commodity to be traded on a commodity

FUTURES CONTRACT

Agreement to buy or sell a commodity, financial instrument, or security, on a stated future date, at a specified price; made binding when conducted on-the-fly, on-the-trading-floor. Standardized agreements for quantity, quality, delivery

GAP PERIOD

Duration for calculating total earnings on excess deferral distributions from Roth IRA and relevant 401(k) plans. Typically occurs between a distribution date and a calendar segment end date, quarterly or yearly.

GATEKEEPER

Authorized person with access control to a decision maker or specific information. Typically a junior officer or a secretary.

GENERAL ADJUSTMENT BUREAU

A stand-alone company adjusting claims as well as training adjusters. Essentially an adjustment clearinghouse for many different insurers.

GENERAL CONDITIONS

Usually in a spec’s book or in associated architectural drawings of a contract, these contract conditions set the rights and responsibilities of the parties involved as well as the minimum contractor performance

GENERAL MORTGAGE BOND

Outranked by one or more senior bonds this bond is secured on the assets of the issuer by a blanket charge .

GENERIC

An item marketed with no brand name, trademark, or other distinguishing feature. Nothing separates it from other similar items except for it market name. Part of a certain general class, or genus,

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