Category: N

In the event that a borrower defaults, this type of loan limits the lender’s power to take possession of the borrower’s property.

Transaction specific cost elements that increase the cost estimates on a casebycase basis.

A price that reflects the lowest possible average of the total cost of production with normal profit taken into consideration. It is the equilibrium price that is determined by the interaction of

A statement on a bill of exchange which prohibits it from being transferred or traded. The statement reads ‘not negotiable’, except in the case of check where it can be made non

A notice issued to concerning parties by the contractee stating that all the work concerning the project has finished. In addition, the period within which the concerned parties can exerciset their lien

An agreement in Australia which allows businesses to lease transportation for its employees. However, a portion of the employee’s wage is deducted to cover the leasing costs. The company is liable for

An exchange for the trading of futures and options that are related to energy, palladium, etc. It is a subdivision of the New York Mercantile Exchange.

1. Rate that does not factor in the effects of inflation 2. Rate that is charged on the gross value rather than on the net value

Charitable organization that foster cultural and social unity to achieve objectives related to public service. The initial capital investment is provided by the founding members who do not expect its repayment or

The majority of policies are non assignable and as such cannot be transferred to a third party ownership

The loss of a right due to a failure to claim or pursue it within a specified legal period.

A type of stock that does not require the company to pay a dividend to the shareholder due to a failure to meet the financial benchmark. In the event of a missed

An agreement between two parties that prohibits criticism by one party on the other. Usually used in the settlement contract in an employment or dispute settlement.

A clause in an insurance that allows for a partial or complete receipt of benefit, or a partial refund in the event that the insured ceases payment of the premiums due on

The price, that is non-inclusive of the monetary, which is incurred by the customer when he/she buys the product. This includes the time spent shopping and the value assigned to the risk

A mobile source of pollution such as the exhaust from automobile and aircraft.

1. Agricultural Financing: In the event of crop fails or insufficient crops which results in the failing of the collateral, the lender cannot claim the loan amount from the borrower. Government schemes

A continuous journey between the source point and the destination.

The retirement that is taken when the pension plan is considered normally deemable.

Refers to Unclassifiable insured usually on workers compensation rating manuals or liability manuals.