Glossary of Terminology for Business correspondence – Business Vocabulary Part-2

Glossary of Terminology and Definitions from Business and Management Part-2

Bill of Lading – Certificate down up and signed by transportation company, enumerating articles being shipped acts as contract and receipt for shipment.

Bankruptcy – Condition of a company unable to meet its debts. In Voluntary Bankruptcy, the company petitions to be declared bankrupt in Involuntary Bankruptcy, a creditor or group of creditors is the petitioner.

Bequeath – To will personal property (property other than reality).

Bid – A possible offer at which goods will be supplied or work performed.

Bargain – Agreement or terms of a sale purchase of material at an advantage.

Beneficiary – One in whose benefit a gift, trust fund income, or insurance money, is drawn.

Barter – Direct exchange of commodities without use of money.

Business – Commercial transaction organization conducting commercial transactions.

Business Cycle – Recurrent succession of business fluctuations loosely divided into prosperity crisis, liquidation, depression, recovery

Binder – A sum of money or other valuable consideration binding parties to a contract.

Book Value – Value gain to assets on the books of owner may be above or below current market value.

Black Market – Trading that violates legal restrictions such as price ceilings, etc.

Book Keeper – One who keeps “books” or accounts of a company generally distinguished from an accountant in having less formal training and lower status. .

Boycott – Organized effort to prevent purchases of goods produced by a certain firm or industry and usually arising out of labour trouble.

Bullion – Bars of gold and silver intended for coinage.

Blanket – Covering everything, rather than a specified item, such as blanket insurance, etc.

Bonus – Extra goods shipped without charge on an order sum given to employee in addition to contracted wages or salary.

Block (in currency) – Legal prohibition or restriction of foreign credit, currency, securities or other property, usually during war e.g., blocked currency.

Brand Name – Name of manufactured article registered to prevent copying.

Budget – Plan for the expenditure of income.

Board of Directors – Group of persons directing affairs of a company, corporation or association.

Board of Trade – Organization for advancement of business, usually of an industry or geographical area such as a town or state.

Board Room – Room in which Board of Directors meets room in brokerage office containing board on which is posted records of transactions, prices, etc.

Breach of Contract – Refusal to carry out terms of a contract in whole or in part.

Broker – Agent, one who buys or sells for another on commission.

Bond – An interest-bearing certificate of indebtedness a bond differs from stock in not representing ownership. In actuality, bonds are long-term interest-bearing notes representing loans or goods being manufactured, stored, or transported under care of bonded agencies.

Bonded Debt – Bonds issue representing indebtedness.

Call – Purchased rights to demand a certain amount of goods at a fixed price or within a fixed time demand for payment of money as on a stockholder, member of a mutual insurance company, etc., to pay installment of subscription to capital, or a contribution to meet losses.

Cancel – To annul an order for goods or services.

Capacity – Calculated space of any form of container from warehouse or ship to carton.

Call Loan – One which may be terminated by either party at any time.

Call Money – Money that must be returned when demanded.

Charter – Certificate from the state approving the organisation of a company and authorizing it to do business in the approved form.

Company – Association of persons for carrying on commercial or industrial enterprise may be partnership, corporation or other joint enterprise.

Capital – A stock of accumulated wealth amount of property and funds as distinguished from income.

Codicil – Addition to a will, modifying some provision in it.

Commission – Percentage or allowance made to broker or agent for transacting business for another, e.g., salesman’s commission.

Capitalism – An economic system in which capital plays a party and funds as distinguished from income.

Capitalist – One who uses capital for investment.

Check – A standard form of written order to a bank to make a designated payment out of a depositor’s balance.

Circulation – In a periodical, the number of purchasers by subscription or individual sales in a store, movement of customers in and out.

Capital Stock – Shares of a corporation considered as an aggregate.

Chamber of Commerce – A board of trade an association to promote the commerce of a community state or nation.

Commercial Paper – Promissory notes of a large, reputable firm dealt in by note broker and sold to banks which discount them and, in that way, realize interest on them.

Capital Surplus – Profits, such as from sale of stock above for value, other than earned surplus.

Chain Store – Branch of a large system of stores belonging to a single ownership.

Carrier – A company transporting passengers or freight, e.g., railroad, airlines, bus or trucking company, etc.

Certified Check – Bearing the signature or stamp of the cashier of the bank on which it is drawn. Its significance is that the sum has been withdrawn from the account of the drawer and the bank assumes responsibility for payment.

Cartel – International combination allocating markets and supplies, and fixing prices in order to eliminate competiving buying and selling.

Ceiling – Maximum wage, rent, etc., fixed buy the government.

Catalogue – A list, usually with illustrations and textual description, of items for sale at announced prices.

Circulation – In a periodical, the number of purchasers by subscription or individual sales in a store, movement of customers in and out.

Co-Maker – One who shares obligations of another by endorsing a contract.

Clearing House – Organization maintained by a banking group to exchange checks and adjust accounts among its members.

Collective Bargaining – Negotiations between employers and a committee of their workers and/or representatives of the union.

Collateral – Property used as security for a loan.

C.O.D. – Abbreviation for “cash on delivery”. In C.O.D. transactions, goods must be paid for at the time of delivery.

Code – An arrangement of words, letters or other symbols to achieve secrecy or brevity in communication a set of rules governing the conduct of a business.

Cutblack – Reduction in production schedule reduction in salary or other compensation.

Co-Sign – To assume joint responsibility in indebtedness by investment.

Cut – In printing, zinc etching, or copper or zinc halftone, usually reproducing, a picture or hand lettering.

Cottage Industry – One where operations are performed by workers at home.

Customer – Person or concern purchasing goods.

Countermand – to reverse a personal order.

Custom – Generally accepted practice, company practice customer’s account.

Courts – Where cases involving offenses against the law or claims protected by the law are tried.

Creditor – One who extends credit lender.

Convenant – Promise of some future action, made in contracts and other legal papers.

Credit – Financial standing influencing sales to a concern on deferred payment permission to defer payment for a certain period.

Coverage – The amount and type of protection against risks agreed on in an insurance policy.

Complaint (in law) – Statement of the cause of an action, the person initiating the complaint is called the complaint. In commerce, customer’s charge of faulty goods, delivery or other service.

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