Category: Finance Dictionary

1. an evaluation done to determine an items worth. 2. when an appraiser assesses market value, estimates damage, and determines loss. It is written and effects the value of the property. AKA

A discharge of electricity over a space with two electrodes.

When average is calculated by addign values and dividing by the number of values.

A company that does international banking. It is chartered under article XII in New York bank laws. They do not own equity and cannot accept deposits in New York.

Any items of collateral that are used to get a loan.

When the buyer accepts risk of loss of a purchased item.

The business or individual that is being audited.

1.how a party is verified when they start a transaction. 2. giving or denying access to a user based on their autheniciation and authorization.

In the United States a national ELECTRONIC FUNDS TRANSFER network that clears and settles recurring payments between financial institutions, as well as debits and credits generated through businesstobusiness commerce and trade transactions.

When a machine is adjusted by the user with experience. It helps promote productivity.

A chart that uses subgroup averages to decide the stability of a process.

1. To take a bid for a contract. 2. a written decision for court that must be followed.

A copy made of an authentic record. It must be notarized by a notary public.

Any agreement offered in the take it or leave it basis.

An INSURANCE contract written by an ADMITTED INSURER that is authorized to do business in the state or jurisdiction where the policy is issued. See also NONADMITTED INSURANCE.

When cash is given for insurance policy due to extreme need on the insured’s part. The money may also be reinvested somewhere else.

Companies that have a shared resources, interests, or business dealings. Or a website that sells products they don’t physically own for commission. Refer to susidiary.

When an entity is made agent to act on anothers behalf.

When union members must pay a fee monthly. It is for employees of a company that requires employees to join the union.

Taking greater loss to possibly make a greater profit that does not rely on chance.