Category: N

A rule that mandates equal provision of benefits to all its employees, irrespective of their position. A retirement plan must include this rule to qualify under the Employee Retirement Income Security Act

A substance that does not burst into flames when ignited, or one that is not ignited easily.

A policy that deems the insured’s statement of healthy sufficient for its issuance.

Non affiliation or non specific ownership with respect to any cause, party or group.

A situation under a guarantee to the borrower or seller that an obligationor transaction is without recourse. This absolves the borrower or all blame in the event of loss or defect. The

A government owned firm or municipality without the guarantee of government backing on obligations.

1. A non stated set of guidelines which specify normal behaviour is a social context. Social control and order are prevalent due to the pressure exterted on an individual to coform to

When negotiating a contract, it is the assurance from the vendor that the value of the property will not be less than the proposed value and the estimates that will be submitted

A notice issued to concerning parties by the contractee stating that no work has taken place at the site of the project for a certain period of time. In addition, the period

An equity market that is focused on novel and emerging firms that are leaders in their respective industries. Usually, companies with the potential to be a global leader or have already attained

A type of contamination that results in the excessive growth and algae that is caused by the release of plant nutrients into the water or soil. This causes oxygen depletion to the

A price quote on the value of a futures contract that has not been bid on for a long duration. Also referred to as nominal price, nominal quotation or subject quote

Tickets that can be claimed for travel only on the carrier that it is issued for.

A policy with a set premium amount such that extra premiums cannot be added

The instrument usedby brokers at the start of a business transaction to ensure (1) that they are not bypassed and (2) the non disclosure of the negotiation information to third parties.

The cause of the degradation with respect to the quality of performance and operational capacity, the impact of which is tolerable for a small period of time without major losses.

1. General: A set of standard rule is applied upon careful evaluation of fairness and equality using this method. 2. Interstate Commerce: Ensuring that all countries are charged equally and justly through

A pension plan that is under the sole ownership of the insured and cannot be lost.

An asset whose monetary value is variable and depends on economic conditions.

A loan or lease where (1) payment from the lessee is not received on time, (2) payments have stopped, (3) Maturity date has passed and the agreement is still unfulfilled. In these