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

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.

BID-TO-COVER

In the United States, the number of BIDS received in an auction of TREASURY BILLS, NOTES, or BONDS versus the number actually accepted. The higher the bidtocover ratio the greater the demand

BIENNIAL

Something occuring every two years. Refer to biennium.

BIG BANKS

The banks with the most assets in an area. It is listed per country.

BIG BEAST

A person who seems larger than life in their field.

BIG BLUE

A nickname for IBM. It started with the blue color on the logo.

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