Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: O

OILFIELD

The location, either onshore or offshore where oil wells are found.

ON BUDGET

When spending is within previously established limits.

ONE-TIME ONLY ADDITION

This is an expense that, once completed, will not usually be incurred again. This might be a one-time project or acquisition, like a computer. This purchase might last for more than one

OPEN CONFERENCE

Relating to public access and community development. Often involves an open source culture.

OPEN INFLATION

The rise in the cost of products and services as a result of spending trends.

OPEN REPO

A repurchase agreement that does not set a date for repurchase and that can be terminated by either party at any time. Rates are adjusted each day, based on current market rates.

OPENING BALANCE SHEET

The initial figures used in a financial plan. For established businesses, these figures are based on the balance sheet from the previous accounting period. For new businesses, the figures are based on

OPERATIONAL PERFORMANCE

The performance of the company against prescribed standards, such as compliance with regulations, waste reduction, productivity, etc.

OPT OUT

Explicit instruction not to send marketing materials to an individual.

OPTION HOLDER

A buyer of options who has yet to exercise or sell an option.

ORGANIZATIONAL POLITICS

Selfish pursuit of individual agendas by members of an organization, with no regard to the impact on the organization?s stated goals.

ORIGINATION FEE

This charge is imposed by a lender on a borrower to cover costs incurred during the mortgage application.

OUTPLACEMENT

The means by which a company helps recently laid off employees find alternative employment. Typically involves the commission of an outside agency, paid for by the company doing the laying off.

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