Category: Finance

Organizational unit or autonomous division that is flexible and can exercise control over factors that effect long term performance.

In manufacturing it is a test performed to determine the load a system can take before its limit is reached or it breaks down.

A fixed number of payments will be required over a fixed time period.

Piece of land that is divided into smaller plots.

A lower than standard or customary norm but not fully unacceptable.

Legal principle where the reasonable and sincere attempt to carry out a contract is not successful.

Clause requiring the insured to make all attempts to protect any property that is salvageable.

A quick decision of a court based on briefings and affidavits where material facts are not disputed or where the court’s opinion is used for judgment. Also known as accelerated judgment.

Computer for very fast data processing where the number crunching ability is measured in hundreds of millions of floating point operations or gigaflops.

In a claims made liability policy the option that will extend the time when claims are allowed to be made.

The increase of rate of output that occurs to meet a sudden increase in demand, in war time for example, by working multiple shifts and expanding the capacity of production.

An activity supporting, but contributing directly to product quality, customer value or generation of revenue but that is necessary for the continuation of the organization.

An electronic or mechanical device that closes or opens a path for electricity to move power from one point to another. See valve.

The subjective or apparent manifestation of a disease or condition or the change of such. See syndrome.

Authority or ability to interact with a computer system that results in flow of information; way to input or output data from a sauce of information. Access implies authorization.