Category: Finance

Countries such as Singapore, Luxembourg, etc which offer little to no government interference in the activities of legitimate business owners and financial institutions. OFC’s offer very low income tax rates, often zero

A harbor located in the middle of the sea to accommodate giant tankers and as such they are equipped with the tools and machines to load, receive and store oil

Acting in the place of someone else.

This is a type of system commonly used by governments to record expenses that may be used only within a specific contractual period.

The date that publications are scheduled for newsstand delivery by the distributor. The on-sale date determines when the publication in question, based on its frequency, is due for submission.

An online business practice that allows a seller and purchaser to execute a transaction through the use of electronic communication.

Technical specification that provides security and privacy when financial information is exchanged via the Internet. However, lacks authentication and authorization functions, which are instead provided by third party vendors.

1. A rate that has not yet been finalized. 2. The highest one-time rate an advertising medium (e.g. newspaper, radio station, etc.) can charge.

A loan that can be expanded incrementally, up to a fixed limit. The loan is secured by the same mortgage throughout.

A legal outcome that automatically occurs whether or not the affected party intends it to.

The wage employers can pay workers under 20 years of age. Although lower than minimum wage, there are several restrictions on its use.

Situation in which a company is producing a high quantity of goods at the lowest possible cost per unit.

Term used for second hand items that describes limited scope for negotiation with the buyer.

Standardized instructions for the replenishment of stock, such as when order point is reached or when stock is completely exhausted.

Repairs to assets caused by day-to-day wear and tear that are required to maintain the asset?s functionality. These repairs do not increase the value of capital assets, they merely preserve value.

Founded in 1968 by conservative Arab states intending to generate international economic cooperation among petroleum producing and exporting countries.

Union activity, aimed at persuading the members of an organization to join the union.

Listed at the top of airline tickets, this is the first flight in an itinerary.

Classification term that applies to small liabilities, or interest-free liabilities that are payable for a period of more than one year.

1. Going out (e.g. a flow) or leaving (e.g. passengers). 2. The first leg of a voyage (i.e. the departing flight).