Category: N

A policy which does not state the claimable amount in the event of a loss.

A foreign exchange account in a local bank in the local currency that is maintained by a foreign bank. A vostro account is the account that is applicable to local banks.

A system under which voters can give their consent or not on matters that were discussed by simply making a notation on the list.

A notification letter from the owner addressed to the contractor stating the date on which the contractor can begin project work. The NTP date marks the beginning of the performance time of

1. Economics: A commodity that is the basis on which the prices of all other commodities are measured. 2. Finance: The currency that is the basis of expression for all other currencies.

The interest rate discounting the effect of compounding, expressed on a per annum basis that applies to a mortgage, credit card or similar loans. It is also known as effective loan rate.

A company that is formed by a financial institution or another organisation which operates an account that holds assets and securities on behalf of the actual owner under the terms of a

A company that is no longer trading, albeit on a temporary basis

Occurs when the expenses of a business are greater than the income for a financial period.

An insurance wherein the full premium cost is borne by the employer, with no contribution from the employee.

A less severe injury compared to partial or complete disability that is eligible for a monetary compensation. Typically includes a disability payments for a month.

Spending such as the repayment of a loan’s prinipal amount or the payment of a refund that is not charged as a usual expense.

Instruments such as the receipt of higher interest with a dividend payment, that is not recorded in a ledger account.

Activities such as strikes, result in the incurrence of a no-operating loss for the firm, although they are not related to the firm’s business operations.

A benefit plan for an employee that does mandate the filing with the IRS and as such tax deductions in exchange for contributions are not offered. Under the nonqualified plan, certain employees

A company that is located in an area which is given the status of a nonresident for tax purposes.

1. Elements of speech such as pitch, tone, speed in addition to behaviours such as facial expressions and gestures that communicate meaning. 2. The delivery of meaning or messages through a medium

An arrangement between two correspondent banks that allows both banks to keep a local currency account for each other.

1. A written statement by an individual to pay a sum of money to another individual, or the bearer of the note at a specified period in time. It is a compromise

A notice that is written by either the landlord or tenant giving a notice to leave the premises within a specified time frame, or to demand the same. The notice is typically