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

TARGETING STRATEGY

Selection of customers by a business wishing to sell services or products. Use market segments and choosing which ones to target.

TARIFF ANOMALY

Situation where import duties on raw materials, components or partly completed goods are greater than on the finished goods. See tariff escalation.

TARIFF CONCESSION SCHEME

The Australian Tax that is levied on all imported goods that do not contain any materials that have been produced locally.

TARIFF ESCALATION

Situation where import duties on components are lowest and then they increase towards the finished goods. See tariff anomaly.

TARIFF RATE

A rate that is derived from data in a tariff of rates such as rating tables and schedules.

TARIFF RATE QUOTA

The import quota allowing a limited quantity of merchandise to enter a country that is to be consumed at a tariff at a reduced rate. Tariff quota.

TARIFF SCHEDULE

The list of prices, rates and charges that have ben arranged in some sort of order and are published. See import tariff schedule and shipping tariff schedule.

TARIFF WAR

The counter balancing of tariff rates by one country that is a retaliatory act in relation to another country to gain advantages in trade.

TASK

The essential and smallest part of a job that is a unit of work differentiating from other parts of the project.

TASK SIGNIFICANCE

The extent of the importance of an identifiable piece of work to other s within and outside of the organization.

TAX ACCOUNTING

The accounting practices that incorporate laws for taxation that is regulated by the IRS.

TAX AVOIDANCE

The lawful tax liability minimization that occurs from a sound financial plan. Tax avoidance is legal but tax evasion is not.

TAX CERTIFICATE

The proof of payment of taxes due on a property or income that is official.

RATCHET CLAUSE

1. Contracts: A stipulation where the contract rights of those involved is adjusted according to the formula agreed to as each stage is completed. 2. Utility Bills: A stipulation where the monthly

RATE AND TERM REFINANCE

To renegotiate the rate or term of a mortgage without changing the amount of said mortgage. This is a common way for borrowers to lock in a lower interest rate.

RATE BASE

The Base number used to compute the rate for taxation, a utility charge, a service or other rate.

RATE CARD

Printed list of rates charged by print and broadcast media. Rate cards are for direction only because the tangible charges vary greatly according to the bartering power of the promoter.

RATE DISCRIMINATION

This practice, now illegal by state insurance laws, involved charging different rates to insured people with similar attributes.

RATE INTERMEDIATION

The practice of borrowing money at lower, short-term interest rates and then lending this money through long term fixed rates, which are typically done at a higher rate of interest.

RATE LOCK DEPOSIT

The fee that a borrower pays to lock in their interest rate for the period while their mortgage application is processed. If they withdraw the application, they forfeit their deposit.

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