A bidding system that enables anyone to submit bids, in order to encourage competitive bidding .

1. A rate that has not yet been finalized. 2. The highest one-time rate an advertising medium (e.g. newspaper, radio station, etc.) can charge.

A system that enables insurers to use rates not previously approved by the state.

A repurchase agreement that does not set a date for repurchase and that can be terminated by either party at any time. Rates are adjusted each day, based on current […]

When a repurchace agreement has no maturity and can be cancelled with 24 hours notice.

Seating plan that does not allocate seats to particular people. Typically, seats are available to whoever sits in them first.

Open shop firms may be any of the following: 1. Firms that dont require employees to be members of a union, 2. Firms that refuse to deal with unions, 3. […]

An agreement between countries that enables unrestricted overflight and landing rights to each other.

Software that can be downloaded, modified and redistributed for free. However, open source software often includes restrictions on re-sale.

A protocol that is governed by an organization anyone can join.

1. Computing: A system designed according to known standards that can interact freely with other systems using the same standards. Open system standards must be fully defined, stable over a […]

A system or device that is designed around common standards and is independent of individual vendors. Thus, any vendor is able to create programs or interfaces for the system or […]

International standard computer network architecture , as defined by ISO protocols. A modular approach to network design is used to divide necessary functions into seven layers so that equipment provided […]

A bidding system that is not private. It is opened for all qualified bidders. Bids are then chosen openly, based on price and quality.

Travel ticket that is valid for a fixed period of time, but that does not specify particular travel times.

A transaction that has not been completed by the end of a particular accounting period .

the term that is given to an active trust .

will that has been spoken orally and is a nuncupative will .

A credit system in which merchandise may be received based only on the promise of payment.

a term that is used for a settlement that is made in a worker’s compensation case where payments will continue for as long as the person is no able to […]

a term that is given to an agreement where the exact amount of goods to be bought isn’t specified.

A fund that allows shares to be bought or sold, according to demand. The funds market value is calculated by dividing the total value by the number of shares and […]

the name that applies to a trust where the shares that are owned by the trust cab be sold and new shares bought.

A loan that can be expanded incrementally, up to a fixed limit. The loan is secured by the same mortgage throughout.

See open end agreement.