NOMINATION COMMITTEE
A committee that operates under the corporate governance department on an organization and performs various duties that depend on the company. However, their main focus is on the evaluation of the company’s
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A committee that operates under the corporate governance department on an organization and performs various duties that depend on the company. However, their main focus is on the evaluation of the company’s
A loan that is considered to be nonperforming due to nonpayment of interest or the uncertainty regarding the collection of principal. For example, nonpayment of interest for 90 days deems that the
A policy that allows the insured to be covered by continuing the payment of premiums for a specified duration of time. The premiums for such policies remain unchanged while also prohibiting the
Occurrence of an situation due to the nonfulfillment of the prescribed standards and specifications.
A method of quality control that is performed on a finished item instead of a sample. As such, it leads to no damage of the tested product. Common techniques include radiography and
Items that are not used up during consumption and as such retain their identity.
The process that involves the sale of a property, utilizing the power of sale in mortgage. However, most insurance companies require a judicial disclosure by the court before issuing a policy.
Income that is not derived from the operations of the business, but still received. It is examined independently from operating income as it does occur frequently. A one time occurrence such as
A retirement contribution that the employee has earned, but which is yet to be paid by the employer. It is not taxable as it has yet to be received. Employees with high
A agent who possesses the license to sell insurance policies in a state other than the one he considers his home state.
A policy which does not state the claimable amount in the event of a loss.
A foreign exchange account in a local bank in the local currency that is maintained by a foreign bank. A vostro account is the account that is applicable to local banks.
A system under which voters can give their consent or not on matters that were discussed by simply making a notation on the list.
A notification letter from the owner addressed to the contractor stating the date on which the contractor can begin project work. The NTP date marks the beginning of the performance time of
The probability that an item will fulfill its operations for the duration specified without being spoilt.
The ease of manipulation granted by this design method is possible through the representation of files and other operations as data structures.
The potential risks to life or functioning of an individual that is inherently associated with his occupation or work environment. Some of these hazards lead to the contraction of a disease or
Banking activities or transactions that occur at ATM machines located outsidethe premises of the bank, usually in malls or markets.
Assets such as furniture and computers that are absolutely essential to the operations of the company
A person under no obligation to confer a benefit or privelege to another individual, but does so unilaterally. This person cannot expect anything in return for the performance of the aforementioned deed.