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

BILL PRESENTMENT

1. giving a bill of exchange to a bank to be accepted as payment. 2. sending an electronic invoice so a customer can review charges before making a payment.

BILLBOARD

1. an announcement that identifies the sponsors of the advertising. It is shown at the end or the beginning or a program on TV or radio. 2. A large outdoor sign that

BILLED WEIGHT

The weight of a shipment on the freight bill. Its used to compute the freight.

BILLING

Making an invoice for sales recovery. AKA invoicing. Refer to billings.

BILLING LAG

The days between costs and invoicing them. It is the time it takes data to process.

BILLINGS

The total bills in a period. Refer to billing.

BILLION

A number with nine 0s. It is also shown as a B after a number.

BILLIONTH

A single part in a billion. The fraction for it is 1/1,000,000,000.

BINARY FILE

A file that has information in a computer readable form. The file can be displayed, read, or used.

BINARY OPTION

An option that has a fixed pay off that starts when an index moves beyond a range. AKA all or nothing option, bet option, digital option, or one touch option.

BINARY SYSTEM

The number system computers use. 1s and 0s are the only two digits computed. It is the foundation of digital technology.

BINARY-BARRIER OPTION

A hybrid of the BARRIER OPTION and BINARY OPTION that grants the buyer a payoff equal to a fixed cash or ASSET amount if the price of the UNDERLYING market reference breaches

BINDER

An agreement between buyer and seller. Its commonly secured by the down payment. If the buyer changes their mind the seller must return the payment.

BINGO CARD

An ad sent in the mail that is the size of a post card. It has a space for a stamp on it as wel as the advertisers address.

BINOMIAL DISTRIBUTION

When something can end only two ways. It is either better or worse, yes or no, or head or tail for example. If the success probability is known than a calculation can

BINOMIAL TREE

A model used to show option values in different time periods at different prices. Only two prices are used in the model. The reality is that the price may have more than

BIO MONITORING

1. analyzing a sample of an organism to see if they were exposed to hazardous substances and how much. 2. using live animals to test pollution in an environment.

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