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

Category: Finance

SERIOUS DELINQUENCY

When a mortgage is in danger of going into default as payments are greater than 90 days late.

SERVICE LEVEL AGREEMENT

A contract between the person or company providing a service and its customer. It will list nature, scope and quality of a service that is to be provided.

SERVOMECHANISM

A device of low power that controls a device that is more powerful when it senses changes in variables.

SEVERE

Strict, austere or intense with disastrous consequences.

SHARI’A

The legal system used by the Islamic people that is based on principles in the Koran and other literature.

SHIKOMU

A term in Japan where employees are aware, through training, of an organisations norms, culture , principles, objectives, traditions, methods of operation and its value system.

SHIP’S PAPERS

The documents that are carried by a ship to allow it to meet all customs, immigration, health and safety requirements of its country of origin and all the ports it will call

SHORT FORM AUDIT REPORT

A standard US 2 paragraph report where the opening paragraph outlines what the auditor has completed and the following paragraph shows the findings from the audit.

SHOTGUN APPROACH

A strategy used in marketing where as wide an area as possible is aimed to be covered.

SICAV

A European investment fund where investor numbers determines the amount of capital in a fund.

SILO MENTALITY

A mindset where some companies don’t wish information to be shared with other departments within the company. It will resuce efficiency.

SITUATIONAL LEADERSHIP

A leadership model designed by Ken Blanchard and Paul Hersey where effective leadership needs flexibility in style that is dependent on the situation at hand.

SKIN

A notation that is used along with PEL and TLV for exposure to substances that can be absorbed through mucous membranes, eyes and skin.

SMARTPHONE

A mobile phone with many features of a computer included in its functions.

SOCIAL AUDIT

The processes involved in the evaluation of a company’s procedures of operation. It will determine if any impact has been adversely made on society.

SOCIAL INVESTING

A strategy where investments are driven in part or totally by a social or unrealistic objectives.

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