| Act |
A bill which has passed through the various legislative steps required for it and which has become law. Synonymous to statute, legislation or law. |
| Act Of God |
An event which is caused solely by the effect of nature or natural causes and without any interference by humans whatsoever. Insurance contracts often exclude "acts of God" from the list of insurable occurrences as a means to waive their obligations for damage caused by hurricanes, floods or earthquakes, are considered "acts of God". |
| Accounts Receivable Financing |
A continuing agreement by a bank, factor or other means of financing such as, to make a loan secured by its customer's receivables; to retain right of recourse for losses, and to advance funds on accounts without notice to borrower's customers. |
| Break Clause |
a clause that allows a tenant to end a lease at specific times during the period of the lease. |
| Break-even Analysis |
The method of determining the exact point at which a company makes neither a profit nor a loss |
| Brief |
A written document prepared by an attorney to serve as the basis of an argument upon a case in court. |
| Crossover |
A billing arrangement between your Medigap supplemental insurance and Original Medicare, which allows your Medigap to be automatically billed for its share of the cost of your health care services so that you do not have to pay up front and later seek reimbursement from the Medigap. |
| Curative Care |
The treatment of patients with the intent of curing their disease or condition; for example, chemotherapy treatments to cure breast cancer. |
| Custodial Care |
Nonskilled personal care, such as help with activities of daily living like bathing, dressing, eating, getting in or out of a bed or chair, moving around, and using the bathroom. It may also include the kind of health-related care that most people do themselves, like using eye drops. In most cases, Medicare doesn't pay for custodial care |
| Division |
An unincorporated subunit of a corporation. |
| Dk |
Acronym for "Don’t Know." A security is said to be "DK'd" when it is delivered to the purchaser or more typically the purchaser's correspondent but is rejected because the purchaser either doesn't know or doesn't agree with one or more of the aspects of the trade. For example, a trade may be DK'd because of an incorrect price, amount, or CUSIP number. |
| Docket |
A list of cases and their status on a court’s calender. |
| Employee Driven Idea System |
A type of suggestion program where employees are rewarded for being ultimately responsible for the management and implementation of any idea they submitted. |
| Employee Engagement |
The means of creating a work environment that empowers employees to make decisions that affect their jobs. Also referred to as employee involvement. Further defined by the Corporate Leadership Council in the in their 2004 study, “Driving Performance and Retention Through Employee Engagement” as “the extent to which employees commit to something or someone in their organization, how hard they work,and how long they stay as a result of that
commitment.” |
| Employee Handbook |
A written or electronic document containing summaries of the employer’s policies and benefits designed to familiarize employees with various matters affecting the employment relationship. |
| Flammable |
Describes any material that can be ignited easily and that will burn rapidly. |
| Fda |
U.S. Food and Drug Administration, which is involved in regulation of pesticides in the U.S., particularly enforcement of tolerances in food and feed products. |
| Ffdca |
Federal Food, Drug, and Cosmetic Act is the law which controls pesticide residues in food and feed, along with FIFRA. |
| Gross Negligence |
Failure to use even the slightest amount of care in a way that shows recklessness or willful disregard for the safety of others. |
| Guaranty |
a pledge to pay another's debt or to perform another's duty in case of the other's default or inadequate |
| Guardian |
A person appointed by a court to preserve and control the property of another person. |
| Hill-burton |
A federal program established in the 1960’s that created financial assistance for the construction and renovation of hospitals and other healthcare facilities. Named for its two principal congressional proponents, Hill and Burton. |
| Hill Burton Act |
Federal legislation enacted in 1947 to support the construction and modernization of health care institutions. |
| Hill-burton Program |
Federal program created in 1946 to provide funding for the construction and modernization of health care facilities. Hospitals which receive Hill-Burton funds must provide specific levels of charity care. |
| Intrinsic Value |
An appraisal term referring to the value created by a person's personal preferences for a particular type of property. |
| Inure |
to come into use; take or have effect |
| Inventory |
The supply or stock of a given commodity or a listing thereof. |
| Joint Committee On Printing |
The congressional committee that exercises oversight of public printing,binding, and related services for the Federal Government. |
| Justification & Analysis (over $100,000) |
Required for a sole source open market procurement that exceeds the simplified acquisition threshold. This J&A must have a statement from the client as to why the procurement is required to be sole source and a Justification from GSA must accompany this in the official file. |
| Job Shadowing |
A program that takes students into the workplace to learn about careers through one-day orientations or more extensive internships to see how the skills learned in school relate to the workplace. |
| Kinship Adoption |
Describes a legal process in which the child is adopted by a relative, and usually involves a less stringent process to complete the adoption (not to be confused with informal family care). |
| Key Contributor Plan |
Is a performance-based incentive program created for the sole purpose of attracting, motivating and retaining key individuals or small groups. (Pierson and Williams, 1994) |
| Key Rate Duration |
A measure of duration that calculates effective or empirical duration by changing the market rate for one specific maturity point on the yield curve while holding all other variables constant. May be done as part of a series of calculations that separately and sequentially vary the yields for two or more maturity points on the yield curve. Sets of partial durations for multiple points on the same yield curve will sum to a value that is usually close to the overall effective duration. Also known as reshaping duration. Key rate duration is the most common type of partial duration and those terms are often used as synonyms. |
| Loan Origination Fee |
Most lenders charge borrowers an origination fee--or points--for processing a loan. A point is 1 percent of the total loan amount. |
| Loan Point |
A charge prepaid by the borrower upon the origination of a loan. One point equals one percent of the loan amount. |
| Loan Servicing |
After you obtain a loan, the company you make the payments to is "servicing" your loan. They process payments, send statements, manage the escrow/impound account, provide collection efforts on delinquent loans, ensure that insurance and property taxes are made on the property, handle pay-offs and assumptions, and provide a variety of other services. |
| Malpractice |
The delivery of substandard care or services by a lawyer, doctor, dentist, accountant or other professional. Generally, malpractice occurs when a professional fails to provide the quality of care that should reasonably be expected in the circumstances, with the result that her patient or client is harmed. Usually an expert is required to testify as to what the standard of care should have been in the situation and how the defendant breeched. Because these cases almost always require expert testimony they can be very expensive to litigate and can be uneconomical without significant damages. |
| Monopoly |
A business or inter-related group of businesses which controls so much of the production or sale of a product or kind of product as to control the market, including prices and distribution. |
| Mortgage Loan |
Any loan for which funds or property (typically a home) is being used to secure the loan. The mortgage loan to purchase the home is considered the first mortgage and is typically secured with a financial down payment or proceeds from the sale of a former home. Second mortgage loans, like home equity loans, are secured by pledging the home as collateral for the loan. |
| Note Payable |
A debt; a short-term obligation evidenced by a contract such as a promissory note. |
| Notes To Financial Statements |
Narrative information intended to be an integral part of the financial statements and necessary for a comprehensive review of the statements presented. |
| Notice Of Adverse Action |
In many cases, lenders are required by law to provide applicants with timely notice of adverse action, such as denial of credit applications. This requirement applies to some loans covered by the Equal Credit Opportunity Act and to some loans covered by the Women’s Business Ownership Act. |
| Ordinary Course Of Business |
Conduct of business within normal commercial customs and usages. |
| Organizational Culture |
Organizational culture can be understood in the same way as the culture of a society, nationality, or country. Organizational culture is shaped by the enterprise’s origin and history, as well as by the values, norms, and attitudes of its leaders and stakeholders. The culture is reflected in the organization’s decision-making and communication procedures, production316 Business Ethics methods, and policies regarding servicing customers and clients. Organizational
culture is the primary predictor of business ethics program success or failure. There are several measurable elements of culture that should be a part of the regular evaluation of the business ethics program by owners and managers.
|
| Original Jurisdiction |
The first court to which a legal dispute is referred. |
| Premium Refund |
The premium returned to the policyholder, which is the amount of premium that has been collected over and above the final earned premium. |
| Premium Reserves |
1. Premium Earned But Not Received (EBNR) - Premium due but not received by the end of the accounting period. 2. Unearned Premium Reserve (UEPR) - Premium paid for coverage beyond the end of the accounting period. |
| Premium Specialist |
An individual that does premium audits for an insurance company. |
| Quality Assurance Through Attributes Program (qatap) |
The Government Printing Office's quality assurance program for specifying and evaluating the quality of printing, binding, and related services. |
| Quality Attributes |
Measurable properties, including tolerances, of a printed piece which define its compliance with requirements. |
| Quantity |
Amount or number. |
| Raffirmation Agreement |
An agreement by a bankrupt debtor to continue paying a dischargeable debt after the bankruptcy, usually to keep collateral or a mortgaged property that would otherwise be repossessed. |
| Real Estate Settlement Procedures Act (respa) |
Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. |
| Receipt |
A hard copy document that records when a transaction took place at the point of sale. The receipt contains a description of the transaction, which usually includes the date, the merchant name/location, the primary account number, the amount and the reference number. |
| Stale Dated Check |
Presented to the paying bank 180 days (6 months) or more after the original issue date. Banks are not required by the Uniform Commercial Code to honor stale-dated checks and can return them to the issuing bank unpaid. The maker of a check can discourage late presentment by writing the words "not good after X days" on the back of the check. |
| Standard Floor Limit |
A floor limit that varies by merchant type. This refers to a currency limit on transactions, above which authorization requests are required. |
| Standards |
rules of conduct, often set by law -- for example, the fair debt collection practices statutes described in this Legal Guide |
| Term Insurance |
A form of life insurance that has no built-in savings feature and does not accumulate any cash surrender value. |
| Term Loan |
A loan for a specific amount of money. It has either have a fixed or variable interest rate, matures in between one and ten years and has a set repayment schedule. |
| Term Notes |
(1) A name used to describe a promissory note used for any closed-end loan granted for a predetermined amount of time (e.g., short-term, medium-term or long-term); (2) A name used in business or commercial lending to describe a promissory note that calls for mostly regular, periodic payments of principal and interest |
| Uncollected Funds |
A portion of a deposit balance that has not yet been collected by the depository bank. |
| Underwriting |
The verifying of date, analysis of risk, and the matching of risk to an appropriate rate and term, using predetermined guidelines and judgments. The underwriting procedure takes place during the processing of the loan. |
| Uniform Commercial Code (ucc) |
A set of statutes enacted by the various States to provide consistency among the States' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading |
| Vested |
Having the right to use a portion of a fund such as an individual retirement fund. For example, individuals who are 100 percent vested can withdraw all of the funds that are set aside for them in a retirement fund. However, taxes may be due on any funds that are actually withdrawn. |
| Vestibule |
A small entrance hall or room. |
| Veterans Administration (va) |
An agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services. The guarantee protects the lender against loss and thus encourages lenders to make mortgages to veterans. |
| Workout |
an arrangement, outside of bankruptcy, by a debtor and its creditors for payment or re-scheduling of payments of the debtor's obligations. Usually applies to an informal agreement between a business and its creditors, although it can be a formal agreement and it can also apply to consumer debtors. |
| Waiting Period (cms) |
The time between when you sign up with a Medigap insurance company or Medicare health plan and when the coverage starts. |
| Waiting Periods |
A period of time an individual must wait to become eligible for benefits for a specific condition(s) after overall coverage has commenced. |
| X12n/tg2/wg5 |
The Health Care Claims Status Work Group (WG5) of the Health Care Task Group (TG2) of the Insurance Subcommittee (N) of X12. This group maintains the X12 276 Health Care Claims Status Inquiry and the X12 277 Health Care Claim Status Response transactions. |
| X12n/tg2/wg9 |
The Health Care Patient Information Work Group (WG9) of the Health Care Task Group (TG2) of the Insurance Subcommittee (N) of X12. This group maintains the X12 275 Patient Information transaction. |
| X12n/tg3 |
The Business Transaction Coordination and Modeling Task Group (TG3) of the Insurance Subcommittee (N) of X12. TG3 maintains the X12N Business and Data Models and the HIPAA Data Dictionary. This was formerly X12N/TG2/WG11. |
| Yield To Call (ytc) |
The annual percentage yield of a security calculated using the yield-to-maturity formula but with the assumption that the security is called on the first call date or on the first par call date. |
| Yield To Maturity (ytm) |
concepts used to determine the rate of return an investor will receive if a long–term, interest–bearing investment such as a bond, is held to its maturity date. It takes into account purchase price, redemption value, time to maturity, coupon yield and the time between interest payments. Recognizing time value of money, it is the discount rate at which the present value of all future payments would equal the present price of the bond (also referred to as "internal rate of return"). It is implicitly assumed that coupons are reinvested at the YTM rate. YTM can be approximated using a bond value table (also referred to as a "bond yield table") or can be determined using a programmable calculator equipped for bond mathematics calculations. |
| Ytm |
An acronym for Yield to Maturity |
| Zoloft |
Sertraline (Zoloft) is used to treat depression, obsessive-compulsive disorder (bothersome thoughts that won't go away and the need to perform certain actions over and over), panic attacks (sudden, unexpected attacks of extreme fear and worry about these attacks), posttraumatic stress disorder (disturbing psychological symptoms that develop after a frightening experience), and social anxiety disorder (extreme fear of interacting with others or performing in front of others that interferes with normal life). It is also used to relieve the symptoms of premenstrual dysphoric disorder, including mood swings, irritability, bloating, and breast tenderness. Sertraline is in a class of antidepressants called selective serotonin reuptake inhibitors (SSRIs). It works by increasing the amounts of serotonin, a natural substance in the brain that helps maintain mental balance. |
| Zoning |
The laws that state how a private user, business, or other entity may use land, including the type and size of buildings or houses that will be allowed on certain lots. Zoning laws are organized by geographic boundaries and may dictate where single-family or multi-family residential, certain categories of business, and/or agriculture may exist in relationship to each other within city limits. Zoning may also address the number of parking spots needed, how close buildings can be to each other or the street, and how much landscaping must be present in certain areas. Zoning is usually controlled (and created) by city or county governments. These governmental entities may grant zoning variances (e.g. allowing fewer parking spaces, or allowing a building to be built closer to the road, etc.) because of a hardship the zoning law causes to the property owner. |
| Zoning |
The laws that state how a private user, business, or other entity may use land, including the type and size of buildings or houses that will be allowed on certain lots. Zoning laws are organized by geographic boundaries and may dictate where single-family or multi-family residential, certain categories of business, and/or agriculture may exist in relationship to each other within city limits. Zoning may also address the number of parking spots needed, how close buildings can be to each other or the street, and how much landscaping must be present in certain areas. Zoning is usually controlled (and created) by city or county governments. These governmental entities may grant zoning variances (e.g. allowing fewer parking spaces, or allowing a building to be built closer to the road, etc.) because of a hardship the zoning law causes to the property owner. |
