Category: S

Term that is used to describe loan or mortgage that is below prime.

Term at the start of a clause indicating authority is granted to alter the clause provisions in order to meet special requirements or situations.

Insured’s costs in diminishing or averting losses that can be recovered from the insurer.

Regulates extravagant spending as a way to control resources.

Total or near total lack of resistance to an electronic current flowing through a product.

The total amount of a goods or service that is available to be purchased at any set period of time.

Device shielding electronic equipment from sudden increases in voltage caused by defective transformers, power restoration.

The illustration graphically showing possible returns for changing/swapping maturity dates.

The provision where female employees participating in a plan for healthcare covered only if their husbands are listed under dependents of the plan.

Relationship between a series of processes where one can’t start or go beyond a set point until another process has started, ended or reached a set point.

The act of delivering, installing and testing of a computer system so it ready for operation.

The court order that is mandatory where a party must fulfills its contractual obligations according to the exact terms of the contract.

The effect that follows from a primary effect.

The lowest temperature of a substance where it will ignite itself with no spark or flame present.

The legal term that refers to using more than one policy to claim on one event.

The measurement of costs involved in relation to the number of units produced.

1. Banking. Payment that is pre-authorized where the account holder asks ate bank to pay an amount from their account to a party regularly. See direct debit payment. 2. Purchasing. Orders that

Financial statement that shows starting balance, deductions and additions, closing balance of a share holder’s equity account. Also known as Statement of shareholders equity.

Time frame set by legislation where affected parties need to take action to enforce rights or seek redress after injury or damage.

Committee advising on issues key to company objectives and policy such as marketing strategy, budget control, allocation of resources.