Lat. By aid and counsel. A civil law term applied to accessaries, similar in import to the “aiding and abetting” of the common law. Often written “ope et consilio.” Burrill.

This is an average price that is calculated based on the production and exports of all oil-producing countries, used as a reference point for checking the overall state of the […]

This is the price for the first trade of a security in a trading session .

This is when an insured individual can see a different service provider without the need to obtain a referral.

1. Accounting: An account with an unpaid balance or one with a positive credit balance. 2. Commerce: The credit relationship that enables the buyer to pay on a deferred payment […]

The lack of restriction on the amount that can be taken.

1. Bids that are not sealed. 2. A bid in response to an open bid request during a bidding contest.

When liabilities have a shorter maturity date than the assets.

The philosophy that a firm will succeed if all of the employees share finance and operations information . Four basic practises are necessary for this: 1. Employees must be appropriately […]

This is when a firm has pending transactions that will occur near the end of the accounting period , and the budget will not change until these are accounted for.

An online business practice that allows a seller and purchaser to execute a transaction through the use of electronic communication .

A bidding contest that concludes with the opening of sealed bids in a public forum, enabling all interested parties to witness the bids.

Relating to public access and community development . Often involves an open source culture.

This is a contract the terms of which do not describe the entire agreement between the two parties involved, with clauses or provisions that can be modified without mutual consent […]

Firms with shares that are publicly traded , not owned by a small number of investors. This is the opposite of a closed corporation .

This is a court session that anyone can attend, if they wish.

This is a software protocol that enables different proprietary databases to exchange information .

A debit that does not have an agent at the moment.

When the same products can be distributed and sold in a particular region by multiple vendors. This is the opposite of exclusive distribution .

A style of management that enables employees to speak with senior managers directly, rather than through intermediaries.

A market economy with few barriers to trade, where imports and exports make up a large portion of the GDP. This is a theoretical state, as all governments have some […]

An agreement that does not restrict the quantity of products or services a consumer can purchase during the agreement period.

A line of credit that does not place any restriction on withdrawal or repayment (other than a maximum credit limit). Any deposits are available for re-borrowing in such an account. […]

This agreement permits the borrower to increase the borrowed amount until a maximum fixed amount of loan in the near future, using the original asset as security.

At the marketplace, this fund continuously buys previously issued shares and sells the new shares. This buying and selling is done every working day which affects the size of the […]