The terms used in business such as Location ,Lock Out,Long Position ,Long Term Liabilities,Long Term Liability etc.
This post explains about terms used in business such as Litigious,Loan,Local Access Facility,Local Distribution Area ,Location ,Lock Out,Long Position ,Long Term Liabilities,Long Term Liability 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.
The terms used in business
Litigant - A person or party who is involved in a court action or lawsuit.
Litigate - To legally settle a dispute in, or take a claim to, a court of law.
Litigious - To routinely or enthusiastically take legal action to settle disputes.
Litotes - A language term referring to understatement, used for emphasis, often ironically, in which the negative-opposite is used instead of the positive expression, for example, "It wasn't the best presentation I've ever given," when the speaker means that they considered it to have been a particularly poor one. Another example is the commonly used "Not bad," or "Not half Bad," when referring to something very good. The word litotes comes from Greek, litos, meaning single, simple or meagre.
Living Trust - A trust created in which assets can be transferred to someone while the grantor (the person who owns the assets) is still alive. Living Trusts avoid dealing with the legalities of a will.
Loading track / Voie de chargement :Track on which the loading, unloading and transhipment of ITUs (Intermodal Transport Unit) is carried out. The transhipment can be from wagon to wagon or from wagon to road vehicles and vice-versa.
Loading Unit / Unité de chargement :Container or swap body.
Loan - a finance agreement where a business borrows money from a lender and pays it back in instalments (plus interest) within a specified period of time.
Loan agreement: A document that states what a business can and cannot do as long as it owes money to the lender.
Loan Shark - Someone who offers unsecured loans at excessive rates of interest.
Loan to value ratio (LVR) - your loan amount shown as a percentage of the market value of the property or asset that will be purchased. The ratio helps a lender work out if the loan amount can be recouped in the event a loan goes into default.
Loan: Money lent with interest.
Local Access Facility - The channel provided by the local telephone company (or other local service provider) to connect the point-of-presence to a customer location.
Local Access Transport Area (LATA) - A geographically continuous area surrounding the Carrier's service switch locations.
Local company (investment policy) / Entreprise locale (police investissement) :Natural person or legal entity established in the host country, or the subsidiary or establishment in which the investment is made.
Local Content Measure - Where a business or investor is required to purchase a certain amount of locally sourced materials to be used in the manufacturing, etc., of their product.
Local Content Requirement - A requirement that some specific fraction of a good be produced domestically.
Local Distribution Area (LDA) - A geographically contiguous area surrounding the Carrier's service switch location.
Local Exchange Company (LEC) - A company which furnishes local exchange telephone services.
Local supplier:An Australian or New Zealand supplier of goods or services that are produced wholly or partially in Australia or New Zealand.
Local Telephone Company - A company which furnishes local exchange telephone service.
Location - A physical premises to or from which Sprint provides service. In instances where a customer obtains service from Sprint at multiple locations, each of these locations will be designated as either "associated" or non-associated."An "associated" location is a location which a customer owns or leases, or which is occupied by a business enterprise in which the customer has an equity interest of twenty (20) percent or more or which is occupied by a franchisee of the customer.All locations other than "associated" locations will be considered "non-associated" locations.At those locations defined as "non-associated", the customer (or plan sponsor) will be responsible for providing billing and customer service functions for charges incurred by all "non-associated" locations and must accept financial responsibility for all such locations in the event of non-payment to Sprint. The customer (or plan sponsor) in selling to or servicing its "non-associated" locations shall not use the Sprint name or logo in any promotional materials, contracts, service bills, etc., without expressed written permission from Sprint. In addition, the customer shall not reference Sprint in an underlying manner, such as, "We use the Big Three" in such communications.
Location-specific Advantages - Advantages (natural and created) that are available only or primarily in a single location.
Lock Out:It is a mechanism by which an employee locks out the business premises in order to prevent the entry of laborer, at the time of a dispute between an employer and the workforces.
Lockout - A term used during an industrial dispute, when management closes down a workplace and bars employees from entering until they agree to certain terms and conditions.
Loco:Loco means the cost of the goods at the place of purchase or in other words it is an ex-warehouse price.
Locus Standi - (Latin - place of standing) The right or capacity of a litigant to be heard or to bring an action in court.
Logistics / Logistique :Any activities for the purpose of transporting a given quantity of a product at the lowest cost to a destination when and as needed.
Logos - The relevance and strength of the message content.
Lombard Rate - The rate of interest changed by the Bundesbank, Germany’s central bank, to loans backed by moveable, easily-sold assets.
London Interbank Bid Rate (LIBID) - The bid rate that a Euromarket bank is willing to pay to attract a deposit from another Euromarket bank in London.
London Interbank Offer Rate (LIBOR) - The offer rate that a Euromarket bank demands in order to place a deposit at or make a loan to another Euromarket bank in London.
Long Grass - To 'Kick something into the long grass' means to push a problem aside in the hope that it will be ignored or forgotten.
Long Position - A situation in which an investor or dealer holds onto shares, etc., which they have purchased, expecting them to rise in value in the future.
Long Term Assets - These are valuable things owned by the company that are not expected to be used up or turned into cash within twelve months. Items like buildings, trucks, equipment, and long term investments will be in this account.
Long Term Liabilities - The amount of money owed by the company that is not due within the next twelve months. Examples are mortgages, loans for equipment and trucks, and any long term loans.
Long Term Liability - Taxes, leases, loans, etc., which are payable over a period greater than one year.
Long-term liabilities: The liabilities (expenses) that will not mature within the next year.
Loophole - An unintentional mistake in a contract or a law which allows people to evade an obligation in the contract, or to get round the law without actually breaking it.
Looping - In films, TV programs, etc., the process of dubbing the original film footage by synching (lining it up) with new or replacement dialogue.
Loss account / compte de perte :Enables the definition of the indemnifiable loss, including :1.for non-payment claims: as a debit the unpaid amount of the claim and as a credit any sum collected in connection with the insured claim, in particular following the realisation of securities or resale of recovered goods.2. for cancellation claims: as a debit the amount of the costs incurred in implementing the contract from the time of its conclusion and as a credit all amounts collected with regard to the insured contract.
The above details describes about terms called in business such as Litigious,Loan,Local Access Facility,Local Distribution Area ,Location ,Lock Out,Long Position ,Long Term Liabilities,Long Term Liability 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 overseas trade below this
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