Category: N

A type of financial equity that requires the payment of a penalty if it is redeemed before the maturity date. This protects the holder from the income loss that is caused by

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.

An order by the court mandating an individual’s presence at the hearing on the specified date.

The allocation of a unique number to identify an account holder instead of his name. All banks follow this system of allocation and reference.

A committee that operates under the corporate governance department on an organization and performs various duties that depend on the company. However, their main focus is on the evaluation of the company’s

A loan that is considered to be nonperforming due to nonpayment of interest or the uncertainty regarding the collection of principal. For example, nonpayment of interest for 90 days deems that the

A policy that allows the insured to be covered by continuing the payment of premiums for a specified duration of time. The premiums for such policies remain unchanged while also prohibiting the

Occurrence of an situation due to the nonfulfillment of the prescribed standards and specifications.

A method of quality control that is performed on a finished item instead of a sample. As such, it leads to no damage of the tested product. Common techniques include radiography and

Items that are not used up during consumption and as such retain their identity.

The process that involves the sale of a property, utilizing the power of sale in mortgage. However, most insurance companies require a judicial disclosure by the court before issuing a policy.