Category: Finance Dictionary

A furnace that creates heat with electric current. Metal scrap or electrodes are used in this proces.

A numeric sequence with the difference between the numbers being the same. Refer to geometric progression.

A nonhuman entity that is created by law and is legally different owning its own rights and duties. AKA jusistic person and legal person. Refer to body corporate.

Buying the whole new issue by public buyers. If underwriters do this its called absorption.

1. to make good on a threat. Refer to aggression and assault. 2. when a hacker gets into your computer to damage it. Refer to active attack.

The arrangement of chairs in rows facing a platform.

A code that is used to complete a transaction. It authenticates the user has done the transaction.

Insurance that extends a policy for a period of time for a certain amount. It helps to cover the changes in market value or a new asset.

A group of employees that work on the same project. Each member has great responsibility for their part of the project. The project succeeds if all parties perform their tasks correctly.

The number of days outstanding a receivable is during the accounting period.

The party that gives a contract to the bidder.

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.

1. The time when an individual is permitted into some security point. This is also called system access. 2. The authority to access restricted records.

A party who agrees to a crime as the main criminal or in accessory.