A policy which does not state the claimable amount in the event of a loss.

An investment that ought to be cashed in a year after the start of the investment.

A government owned firm or municipality without the guarantee of government backing on obligations.

A clause in a policy that states that coverage of the policy begins at noon. Inapplicable to policies nowadays, which are effective as of 12:01 am.

A material that does not vaporize or sublimate when left in the open at room temperature and pressure.

A price that reflects the lowest possible average of the total cost of production with normal profit taken into consideration. It is the equilibrium price that is determined by the interaction of

A evaluative rather a descriptive approach used to determine the degree of conformity to the standard norms or recommendations. For example, normative data is used to understand the underlying phenomenon rather than

1. Statistics: With the help of comparisons and peer review, it is the standardization of data that is obtained from various sources spanning different periods. 2. Database Programming: The process that involves

The retirement that is taken when the pension plan is considered normally deemable.

1. A non stated set of guidelines which specify normal behaviour is a social context. Social control and order are prevalent due to the pressure exterted on an individual to coform to

The North Atlantic treaty of 1949 led to the formation of this military alliance between the 26 member countries with the intention of combating the spread of communism. It now makes a

The classification of group industries into 20 sectors, which are further classified into 1,170 industries based on the establishment type. The identification is through the assignment of a 6 digit code. For

A term collectively used to refer to developed countries, most of whom are located to the north of developing countries(also known as the south)

A latin term for ‘it is known by the company it keeps’, it is the concept that the intended meaning of an ambiguous word depends on the context in which it is

An arrangement between two correspondent banks that allows both banks to keep a local currency account for each other.

A foreign exchange account in a local bank in the local currency that is maintained by a foreign bank. A vostro account is the account that is applicable to local banks.

A treaty between Canada, the US and Mexico that was legislated in 1994, which removes tariffs and other barriers to facilitate easy trade between these countries. It lasts between five and ten

Computer memory that is not dependent on power. This includes CD’s and DVD’s, tapes, etc. In contrast, volatile memory devices such as the silicon random access memory (RAM) lose memory upon a

A bid that fails to satisfy the specifications of an invitation to propose, bid,etc.

Non affiliation or non specific ownership with respect to any cause, party or group.