Category: L

A bank or insurance company promises by this written confirmation to act as a 3rd-party on behalf of the first party in a transaction or contract. This 3rd-party covers loss or damage

New contract and renewed contract commissions are system-regulated to be the same percentage of the premiums.

Company roles accountable for employee productivity and the work performance. The role of management is split into three levels: top-level, middle-level, and first-level. These levels are tiered in numbers and overall responsibilities.

Knowledge classification scheme for subject divisions, indicated by letters, and their subdivisions by numbers. Known as call numbers for books, and other material, as a part of a library’s systematic cataloging and

Freehold estate while the beneficiary or tenant lives. Terminates at the beneficiary’s death. Not a legal estate, so the beneficiary cannot sell the property. It is only an equitable interest.

In one’s estimated 70-year lifetime, the exposure to a substance that one will get as a total value.

1. In General, this is a boundary of scope, be it authority, power, privilege, or right. Prescribed bounds. 2. In Banking, this is (1) The largest amount a bank will loan to

A trust that ends on a date set when the trust was first made.

Daily operations such as purchasing, manufacturing, and selling associated with its organizational decision making areas. Also refer to staff function.

A straight line movement of goods from one end of the supply chain to the other in a traditional distribution channel.

Cash compensation, agreed to by signed, written contract for breach of contract, payable to the aggrieved party. The contract succinctly specifies what actions, or omissions, constitute a breach. To be legally enforceable,

Conditions that a firm must meet before the security, be it a stock, shares, or bonds, is officially quoted or listed for public trading on an organized stock exchange. Some of these

The even splitting of workload among two or more servers. The intent is to provide a certain standard of throughput for the user community while having online backup servers in case one

Banking related service allowing a company to drop its deposit in a postal box where the bank will obtain the deposit and post it to the company’s bank account(s). Typically this service

In a log book, the systematic daily or hourly recording of activities, events, and/or occurrences.

A position that loses profit due to a decline in prices.

Some amount due from the balance sheet date for 12 months or longer. A bank loan, mortgage bonds, debenture, or other obligations not due for one year are several examples. In a

Determining if a company is paying employment taxes on the correct depositing schedule during this timeframe. July 1 through the next June 30 is this timeframe. A company decides during this time

Claims reported late give the insurer extra money due to this factor introduced to permit development of losses and reimbursement.

Lost chance to sell a potential buyer a specific item. Excluding it as a standard business peril in this circumstance from certain contracts is typically done.