Category: N

Time that is not spent on the execution of a task or on manufacturing operations.

Refuseal by the insurer or the insured to renew the coverage on an insurance plan. Usually done on the policy’s expiration date or its anniversary.

A ticket that prohibits the transfer of tickets between two passengers.

The North Atlantic treaty of 1949 led to the formation of this military alliance between the 26 member countries with the intention of combating the spread of communism. It now makes a

A document which has been authenticated by the signature of the relevant individual and the signature of the notary public who acts as a witness to the signature. This document is then

The period within which the delivery of the contract has to be accepted by the contract owner. This period usually lasts between three and six weeks before the expiration of the contract.

The average number of days that an item spends as a part of an inventory, expressed as a ratio. It is used to determine the quality of inventory control and thus is

The income that is derived from a security.It is stated as a percentage of its purchase price.

Rejection by a drawee due to a failure to honor the instrument of negotiation (a bill of exchange)

Income that is received from passive sources such as the appreciation of a real estate property and as such they fall under the tax related category of income.

Costs that occur when product quality is not up to standard. It also results due to production imperfections and includes both internal and external costs.

An intermediary organization such as the government that facilitates transactions between the savers and borrowers. Time deposits are however not accepted. These intermediaries source their lending activities through the sale of securities

Capital goods such as machinery that are not used up during a manufacturing process and thus retain their identity and features.

Financial transaction with neither a direct nor an indirect execution to the benefit of the user. Sometimes, these transactions do not need to be registered with the Securities and Exchange Commision (SEC).

The profit realized from activities such as the sale of an asset, which is not related directly to the firm’s primary business operations.

A person who engages in investment activities but is not involved or affiliated to the SEC or other agencies. Also, a person who is not an investment broker, but is actively involved

1. General: The intention to be liable to one’s obligation according to a contract and expect the the obligee to honor the contract with performance deliverence. 2. Electronic Commerce: Be liable to

A land right which was not exercised within the statutory period. A continued use of the land will result in having to give up ownership

A latin term for ‘it is known by the company it keeps’, it is the concept that the intended meaning of an ambiguous word depends on the context in which it is

The impression of the notary public stamp that is used by the notary public to authenticate and legitimize signatures and documents.