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

SECURED

A credit, obligation of loan that is guaranteed by a pledge of an item of gtreater or equal value on liquidation.

SECURED PARTY

The lender or seller who is holding the security interest or lien that is against an asset that has been pledged. Secured parties are paid first before the unsecured ones.

SECONDARY DISASTER

A disater that is started by a first disaster and happens after the initial disaster. Such as a fire that occurs after an earthquake.

SECURE COMMUNICATION PROTOCOL

Standards of communicationthat are used to ensure a secure transfer of data communication. Mastercard and Visa have developed the Secure Electronic Transaction protocol.

SEGMENTATION STRATEGIES

The approaches used in order to subdivide a market or population into segments with similar characteristics. Five major strategies, behaviour, benefit, demographic, geographic and psychgraphic segmentation.

SEGREGATION OF DUTIES

1. A control policy where no person is given more than one area of responsibility. Called seperation of duties.2. Procedures and methods that are established as an internal check in order to

SELECTION OF RISK

A term used to refer to an insurers selection of what risks to insure. The term refers to the act of ceding poor risks in reinsurance.

SEGMENT MARGIN

How well a department is performing when compared to thw whole operations of a company.

SECURITY MARKING

The clear marking of a document showing its level of security that will ensure its protection at the required level.

SEGMENT

A division of a sector that is distinct but linked to or related to other elements. See segmentation.

SELECTIVE DEMAND

The demand for a certain brand that happens after the initial demand in the life cycle of a product.

SCALE DRAWING

The size of a drawing in relation to the actual size of the object drawn.

ROTH IRA

An account that an individual can pay into for retirement that qualifies as a tax saving account. Tax is paid on deposit but not on withdrawal.

SEED CAPITAL

A small amount of capital that is used at the beginning of a firms start up by the founders. Rarely is it provided by a financial institution due to the failure risk.

SECONDARY AUDIENCE

The people who can exert an influenceon a primary audience. It can be children, spouses, frinds neighbours or associates.

SEASONAL INDUSTRY

An industry that is dependent on weather conditions or seasonal phenomena that has high and low cycles. Fruit picking is a good example of this.

SCANNER

A pice of hardware that can be stand alone or attached to a computer to copy documents. It converts the text or image to a digital file.

ROUTINE

1. Any activity performed at regular intervals.2. The repitition of a procedure that does not vary.

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