POINT OF SALE SOFTWARE
A software program which is used to keep a record of all the goods and services that are sold to the customer. Used to run the cash registers and computers at the
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A software program which is used to keep a record of all the goods and services that are sold to the customer. Used to run the cash registers and computers at the
Any substance, or form of energy which has the ability to pollute the environment, causing harmful effects and damaging nature in general. It might affect natural health of plants, the quality of
An economical term which denotes a large number of buyers within a market, but no buyer is large enough to bring a change in the prices.
A PDF document is a file format that has been created by Adobe Systems, Inc., to be used with the Adobe Reader. It is commonly used to prevent copyright claims and allows
A strategy commonly adopted for marketing purposes, in which a brand tries to occupy a distinguished position as compared to other brands, in the customer’s thoughts. Companies adopt a variety of different
A plan in which all of the premiums are given out at the beginning of the year, albeit in the form of post dated checks, which are handed to the insurer who
A special situation under which trust is created between two or more partices, and it also includes the transfer of the assets of a will maker in to an already created trust.
A survey conducted to evaluate the financial, managerial and operational capabillities of any contractor, before the actual contract is awarded.
To set up a prior claim, or the right to gain an advantage before anybody else.
Rules limiting tax deductions and income that go untaxed. This is limited by passive source earnings.
A bond that converts its assets into negotiable securities. The assets remain on the balance sheet but are reserved for investors in the event of default.
Combining non related securites to ensure more profit. Refer to diversification, diversifiable risk, nondiversifiable risk, and portfolio theory.
The 90 days before bankruptcy. Refer to preference.
The main insurer on a policy. Refer to apportionment, divided cover, overlapping insurance, and pro rata.
A subsidiary company that writes special risk insurance for their parent company or group.
Relationships used to decide option prices that must remain to prevent arbitrage conditions. The sum price of the call option and strike price. This price must equal the sum of the put
When a company unexpectedly retains risk leading to losses. This usually occurs when they are not properly managing their reserves or self insurance. Refer to retention and risk retention
Provides bonuses and cash to management if the company does well.
When managers buy extra stock to boost prices higher. This is done at the quarter and end of the financial year. Refer to window dressing.
An insured with less risk of loss and claims than the normal applicant. Insurers find these risks to increase their underwriting income and lower settlements.