A guarantee of payment to a third party if the purchaser cannot.

A compensation provided for work that is done above the standard expectations. Commonly, a performance bonus is offered as an incentive to the employees in order to bring about an […]

Commonly used in government budgets, that are given for medium to small scale budgets.

Performance efficiency is given out as a percentage, and is expressed as the actual output produced by a person, and then compared with the expected output.

A formal analysis of any individual ‘s actions pertaining to his/ her job, as well as the results of those actions, in relation to a particular position. When we talk […]

In business terminology, performance indicators are commonly used to analyze certain objectives.

A thorough evaluation of an employee, equipment or procedures that are contributing towards a preset goal. Organizational development , performance appraisal , business performance management are all similar to performance […]

Execution of the terms of a contract after which the involved parties are discharged from their duties, as listed within the contract. A payment is usually made after the performance […]

An express statement which defines the requirements that must be fulfilled by a particular equipment, product or material.

A preset bar against which given performance is compared.

a term in a contract that calls for a determination that the contract has been fulfilled.

When the interest payments and principal are less than 90 days past the date on which they should have been paid, it is known as a performing loan .

A musical copyright which provides the privilege to composers as well as publishers of music, giving them the right to benefit from their own performances.

In old practice. Parchment. In pcrgamcno scribi fccit. 1 And. 54.

In medical jurisprudence . An inflammation of the lining membrane of the heart.

Lat. In the civil law . Peril; danger; hazard; risk. Periculum rei venditoe, nondum tra- dita;, est emptoris. The risk of a tiling sold, and not yet delivered, is the […]

The risk, hazard, or contingency insured against by a policy of insurance .

Dangers that might be associated with sea travel. Usually involves high winds, two ships colliding, hitting a submerged object, etc.

A dispensation granted to a clerk, who, being defective in capacity for a benefice or other ecclesiastical function, is de facto admitted to it. Cowell.

Any point, space, or division of time. “The word ‘period’ has its etymo- logical meaning, but it also has a distinctive signification , according to the subject with which it […]

The total costs incurred, such as depreciation , interest and other costs which commonly occur as time passes. These are treated as fixed costs. Known commonly as period expense.

The time it takes for a business tore store damages to property, or any asset. The period of restoration begins on the date the loss is recorded and is ended […]

The time period during which a single incident, or accident might turn in to a real disaster.

A standard method used to calculate inventory costs, by making use of an average.

When a financial institution revalues collateral to make adjustments . Refer to upfront collateral .