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

Category: Finance

VARIABLE PAY

Compensation that needs to be earned every month to be paid, commission and not monthly wages.

VERTICAL MARKET SYSTEM (VMS)

Formal or informal distribution where members work together for best efficiency and economies of scale and eliminate conflict in channels of distribution.

VETTING

Formal examination prior to grant of approval.

VISUAL ANALYSIS

Observing the features and arriving at a general estimation. Also known as visual inspection.

VOICEMAIL

Spoken message left in a ‘mailbox’ of the person being called.

VOSTRO ACCOUNT

Account in local currency held by a coal bank for a foreign bank.

WAITING PERIOD

Period of time between filing a statement of registration and its effective date.

WATERFALL PAYMENT

Loan repayment established by a debtor organization organizing payment sin levels of size and loan expense.

WEB HOSTING

Way of maintaining and hosting client’s web sites.

WETLAND

Low lying area with permanent or intermittent water. Important for water birds and animals.

WILDCAT STRIKE

Unannounced or illegal industrial action where employees have not followed procedure.

WIRE

Strip of metal that is smaller than 3/16th inches in diameter.

WITNESS

1. Person who sees a document signed. 2. Person called to court to testify and give evidence.

WORKSHOP

1. Shop floor where physical work is carried out. 2. Seminar opt training class given to solve tasks related to work to gain hands-on experience.

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