Category: S

A situation that arose in 2008 and affected the mortgage industry because borrowers were approved for loaned they couldn’t afford. Many lending institutions collapsed.

Support of a claim or assentation by objective data or other proof of evidence.

Method where ideas of employees are communicated to management.

Infrequent or miscellaneous supplier not assigned an individual ledger but are grouped together.

Used at the New York Stock Exchange, it is an electronic order entry and reporting system.

The complete network of bodies that are either directly or indirectly linked or dependent in serving the same customer. It will comprise the vendors of raw materials, production company, storage warehouses, distribution

A schedule that lists surgeries and the benefits payable for each one.

Provision where pregnancy covers members in a group health plan but coverage is terminated at the end of the plan even if a pregnancy is still progressing.

Carrier substituted B/L for the original B/L with the terms of an L/C.

The process where each run of production will put out an identical sequence of items in terms of quantity, mix and rate. See synchronized manufacturing.

Efforts to (1)translate operational needs into system performance, (2) incorporate physical and functional needs in order to get an optimal design and (3) integration of all factors in order to meet performance,

The study of economic and social factors influencing a society’s behaviour.

Water that does not containe high levels of dissolved solids such as minerals that make it hard to lather. Soft water lathers easily.

Energy that is transmitted by the sun in electromagnetic waves. It is the basis fir all life on Earth. It can be harnessed by solar cells, stored and then used.

The opposite of monopoly where a customer is served by a large number of suppliers without the prospect of getting any more.

A collective term applied to all dveloping countries that are located South of a dveloped country that is known as North.

A motor car policy not used any more.

A legal entitiy that is created in order to insulate an issuer of an asset based security from the originator of said asset. A special purpose vehicle.

Capital accumulation plan or pension plan where an employee makes a contribution to a pension plan from their salary that reduces the tax payable. Puts the employer into a lower tax bracket.

A bacteria found in sewage and human and animal intestines. These orgaisms are toxic and cause different diseases when injested. Different strains are found in different food.