Terms used in business such as Bonded Exchange , Bonded Warehouse, Bookkeeping, Bottom Fishing ,Bottomry Bond etc.
This post explains about terms used in business such as Bonded Exchange , Bonded Warehouse,Bookkeeping,Bottom Fishing ,Bottomry Bond,Boutique,Brand Loyalty,Brand name,Breach of contract etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in business
Bonded Exchange - Foreign exchange that cannot be freely converted into other currencies.
Bonded Warehouse - A warehouse in which imported goods are stored under bond, until the import taxes are paid on them.
Bonded Warehouse:It is a warehouse usually situated near the port where the imported goods can be stored temporarily pending the payment of import duty. The owners of the goods can be stored temporarily pending the payment of import duty. The-owners of the goods have to furnish a bond to the customs authorities in this regard.
Bonded Warehouses / MADT-MAE :Bonded Warehouses. These are zones under Customs control that permit the storage of goods prior to customs clearance.
Bonus - An extra sum of money given to an employee on top of their salary, often for achieving targets.
Bonus Culture - Term used when companies give their executives huge bonuses in addition to their large salaries, even if their performance has been poor, especially leaders of financial institutions.
Bonus Shares: Bonus shares are free shares issued to the shareholders out of accumulated reserves. These reserves are created by the company out of profits and thereafter they are capitalised by the issue of bonus, shares. This is also known as a capitalized profit.
Book Debts:Book debts are the amounts outstanding at a given date and owing to a trader by his customers as shown by the books of account.
Book Depreciation - A decrease or loss in value of a company's assets, as recorded in the company's finances.
Bookkeeping - The recording of a business's transactions, such as sales, purchases, payments, income, etc.
Bookkeeping: The process of recording business transactions into the accounting records. The "books" are the documents in which the records of transactions are kept.
Boom: Boom is an upward rush of prices. It is the rapidity at which the price of particular goods increases in a particular market. In the boom period a general economic progress is witnessed.
Boomlet - A small period of rapid growth in trade and economic activity.
Bootstrapping - Starting a business from scratch and building it up with minimum outside investment.
Bootstrapping - where a business funds growth purely through personal finances and revenue from the business.
Boss napping - Believed to have started in France, the unlawful imprisonment of a boss, in the offices of a company or on the site of a corporation, by employees who are protesting against redundancy, closure of the company, etc.
Bottom Fishing - Buying the cheapest investments available which are unlikely to fall much further in value.
Bottom line - see Net profit.
Bottom line: The figure that reflects company profitability on the income statement. The bottom line is the profit after all expenses and taxes have been paid.
Bottomry Bond: This is an important document used in foreign trade. When a ship requires repair, this bond is issued by the captain of the ship for procuring loan. He procures loan by mortgaging the ‘bottom” or whole of the ship to regain it on the way of transit on condition that the caption/the ship-owner will repay the loan when the ship will reach safely to the destination.
Bounce - In economics a bounce is a small quick partial recovery of the economy after a recession, which may subsequently continue upwards in growth, or plateau neither growing or contracting, or descend back into recession.
Bounty Hunter - In the US, someone who pursues criminals or fugitives and brings them to the police in exchange for a monetary reward.
Boutique - A small shop or outlet typically selling fashionable and expensive items such as clothing. The term 'boutique' is also now increasingly applied as a descriptive word in various other sectors and products to denote an outlet/supplier of small-scale, highly individual, bohemian, quirky, or hand-made quality, for example Boutique Hotels, below.
Boutique Hotel - A small individual hotel, commonly within a historic building, with luxurious stylish themed and furnished rooms, typically independently owned.
Bracket Creep - Slowly moving into a higher tax bracket with small pay increases over a period of time.
Brain Drain - The loss of highly skilled people to another region, country or industry, where they can work in a better environment and/or earn more money.
Brainstorming - Problem solving in small groups, contributing ideas and developing creativity.
Brand - A unique identifying symbol, trademark, company name, etc., which enables a buyer to distinguish a product or service from its competitors.
Brand Association - Something or someone which make people think of a particular product.
Brand Loyalty - When a consumer repeatedly buys a particular brand of product and is reluctant to switch to another brand.
Brand name: A term, symbol, design or combination thereof that identifies and differentiates a seller's products or service.
Brand: A design, mark, symbol or other device that distinguishes one line or type of goods from those of a competitor.
Breach of contract / Résiliation :Cancellation is brought about when the execution of the Contract is interrupted for a 6-month period following the occurrence of a claim-generating event as mentioned in the policy.
Breach of contract - failure by one party to a contract to uphold their part of the deal. A breach of contract can make the whole contract void and could lead to damages being awarded to the other person.
Bread and Butter - The main source of income of a company or an individual.
Break Even - To make enough money to cover costs. In business, the point at which sales equals costs. To make neither a profit or loss.
Break-even point - the exact point when a business' income equals a business' expenses.
BREAK-EVEN POINT:The point at which sales equal total costs.
Break-even: The point of business activity when total revenue equals total expenses. Above the break-even point, the business is making a profit. Below the break-even point, the business is incurring a loss.
Bretton Woods Agreement - An agreement made near the end of World War II to promote exchange rate stability and facilitate the international flow of currencies.
Bretton Woods Conference - An international conference held in 1944 at Bretton Woods, New Hampshire. The conference established the International Monetary Fund and the World Bank.
Bridging/Bridging loan/Bridge - A short term loan, normally at high rates of interest calculated daily, which 'bridges' a period when funds are unavailable, typically when payment has to be made before finance can be released from elsewhere to cover the transaction.
Brinkmanship - The practice of pursuing a tactic or method to the point of danger or damage, typically employed in competitive situations in which it is felt that the tactic will unsettle or cause the withdrawal of the adversary/ies. Dervies from the word brink, meaning the edge of a cliff or other dangerously high point.
The above details describes about terms called in business such Bonded Exchange , Bonded Warehouse,Bookkeeping,Bottom Fishing ,Bottomry Bond,Boutique,Brand Loyalty,Brand name,Breach of contract etc.These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in business trade below this post.Terms used in business such as Blockade ,Blue-Sky Law,Bodhisattva ,Bogor Goals,Boilerplate etc.
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