STANDING COMMITTEE
Committee charged with assigning work continuously. See Ad hoc committee.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
Committee charged with assigning work continuously. See Ad hoc committee.
Total of technical and scientific knowledge that is currently available as applied to a product or design.
Body of written laws that have been adopted by the legislative body.
An alloy of iron that contains carbon as low as 0.03 % as in a steel ingot through to 2.5% in cast iron. Varying amounts of other elements such as manganese, chromium,
Overnight deposit rate average paid by largest London banks on any given day.
Ratio of sales to inventory as a percentage or in numbers of weeks or days. Includes safety stock, work in process, seasonal stock and pipeline stock.
Temporary or unplanned measures used to fix a problem that is unexpected.
A debt that cannot be changed into finance of a different form.
Organizational unit or autonomous division that is flexible and can exercise control over factors that effect long term performance.
In manufacturing it is a test performed to determine the load a system can take before its limit is reached or it breaks down.
A fixed number of payments will be required over a fixed time period.
Piece of land that is divided into smaller plots.
A lower than standard or customary norm but not fully unacceptable.
Legal principle where the reasonable and sincere attempt to carry out a contract is not successful.
Clause requiring the insured to make all attempts to protect any property that is salvageable.
A quick decision of a court based on briefings and affidavits where material facts are not disputed or where the court’s opinion is used for judgment. Also known as accelerated judgment.
Computer for very fast data processing where the number crunching ability is measured in hundreds of millions of floating point operations or gigaflops.
In a claims made liability policy the option that will extend the time when claims are allowed to be made.
The increase of rate of output that occurs to meet a sudden increase in demand, in war time for example, by working multiple shifts and expanding the capacity of production.
An activity supporting, but contributing directly to product quality, customer value or generation of revenue but that is necessary for the continuation of the organization.