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

BEST PRACTICABLE ENVIRONMENTAL OPTION (BPEO)

The UK practice of controlling pollution without penalties. The costs of pollution are covered by economic benefits. It allows more that would be standard emissions. AKA best practicable means.

BEST PRACTICE

The way that shows results every time. Its the benchmark. REfer to best in class and leading practice.

BEST RATE

The lowest rate that still lets a buyer have convenience.

BEST SELLER

A book that sells large numbers in a period of time. A list is published of these books according the the sales.

BEST TIME

The ratio of how efficient a task can be done in standard time. Its a percentage of the highest performance under conditions.

BEST VALUE

When the best benefit comes from a trade off of price and performance.

BETA

1. The UK classification of the most traded stocks. 2. The US measurement of risk and volatility of the stock market based on the standards. Each stock is given a standard amount

BETA TEST

A second level of testing. Its the pilot test of a product before commercial release. The internal testing has already been done and passed. Select customers can test the product in normal

BETTER BUSINESS BUREAU

A US organizatoin that rates the ethical performances of busniesses. They award a business with good customer relations and a high level of trust.

BEYOND CHARGE

A charge on freight that covers costs fo getting the cargo from the port to the destination.

BIANNUAL

An alternate term for biennial or twice yearly.

BIBLIOGRAPHY

Books or articles that are related to a subject or author. This can be an annotated bibliography as well. A large bibliography is published as a book sometimes.

BID AND ASKED

The most that a buyer will pay and the lowest a seller will accept. The difference in these prices is the spread.

BID DATE

A date and time a bid is to be submitted by. AKA bid time.

BID DIVISION

When several parts of a job are separated so different bids can take on the job.

BID SHOPPING

Putting one bidder against another to get lower prices. It can happen before or after submission.

BIDDING PERIOD

The days leading up to the bid date a perspective bidder can lodge a bid.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.