Dictionary_of_Banking_and_Finance
.pdfclosing price |
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closing price / kləυz ŋ pra s/ noun the price of a share at the end of a day’s trading
closing statement / kləυz ŋ
ste tmənt/ noun a statement of all charges and fees involved in a mortgage, made just before the mortgage is signed
closing stock / kləυz ŋ stɒk/ noun the details of stock at the end of an accounting period At the end of the month the closing stock was 10% higher than at the end of the previous month.
closing time / kləυz ŋ ta m/ noun the time when a shop or office stops work
closure / kləυ$ə/ noun the act of closing
CM abbreviation US compounding method
CMBS abbreviation commercial mort- gage-backed securities
CME abbreviation Chicago Mercantile Exchange
CML abbreviation Council of Mortgage Lenders
C/N abbreviation credit note
Co. abbreviation company J. Smith & Co.
co- /kəυ/ prefix working or acting together
c/o abbreviation care of
COB abbreviation Commission des Opérations de Bourse
co-creditor /kəυ kred tə/ noun a person who is a creditor of the same company as you are
COD, c.o.d. abbreviation cash on delivery
code /kəυd/ noun 1. a system of signs, numbers or letters which mean something 2. a set of rules
code of practice / kəυd əvpr kt s/ noun 1. rules drawn up by an association which the members must follow when doing business 2. the formally established ways in which members of a profession agree to work
Advertisers have agreed to abide by the code of practice set out by the advertising council.
co-director / kəυ da rektə/ noun a person who is a director of the same company as you
co-financing / kəυ fa n ns ŋ/ noun the act of arranging finance for a project from a series of sources
cohabit /kəυ h b t/ verb to live together when not married A woman who cohabits may lose out financially if her partner dies.
cohabitant /kəυ h b tənt/ noun a person who lives with another
cohabitation /kəυ h b te ʃ(ə)n/ noun living together, when not married
Most public-sector pension schemes do not recognise cohabitation.
coin /kɔ n/ noun a piece of metal money He gave me two 10-cent coins in my change. I need some 10p coins for the telephone. coins of the realm the coins which are legal tender in the UK
coincident indicator /kəυ-
ns d(ə)ns nd ke tə/ noun an indicator which coincides with economic activity (as opposed to leading indicators and lagging indicators)
co-insurance / kəυ n ʃυərəns/ noun an insurance policy where the risk is shared among several insurers
COLA abbreviation US cost-of-living allowance
cold /kəυld/ adjective without being prepared
cold call noun /kəυld kɔ l/ a telephone call or sales visit where the salesperson has no appointment and the client is not an established customer verb to make a cold call
cold caller /kəυld kɔ lə/ noun a salesman who makes cold calls
cold calling /kəυld kɔ l ŋ/ noun the act of making cold calls on potential customers
‘…the board is considering the introduction of a set of common provisions on unsolicited calls to investors. The board is aiming to permit the cold calling of customer agreements for the provision of services relating to listed securities. Cold calling would be allowed when the investor is not a private investor’ [Accountancy]
cold start /kəυld stɑ t/ noun the act of beginning a new business or opening a new shop with no previous turnover to base it on
collapse /kə l ps/ noun 1. a sudden fall in price the collapse of the market in silver the collapse of the dollar on the foreign exchange markets 2. a
collar |
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commercial attaché |
sudden failure the collapse of the pay negotiations Investors lost thousands of pounds in the collapse of the company. verb 1. to fall suddenly
The market in silver collapsed. The yen collapsed on the foreign exchange markets. 2. to fail suddenly The company collapsed with £250,000 in debts.Talks between management and unions collapsed last night.
collar / kɒlə/ noun 1. purchasing fixed minimum and maximum rates (‘floors’ and ‘caps’) of interest, dividends or repayments at the same time 2.
white-collar
COMMENT: If a company has money in variable rate investments and wants to protect its income, it will buy a floor; instead of paying the premium for this purchase it will simultaneously sell a cap, so effectively creating a ‘collar’ round its investments.
collateral /kə l t(ə)rəl/ adjective used to provide a guarantee for a loan noun security, such as negotiable instruments, shares or goods, used to provide a guarantee for a loan
‘…examiners have come to inspect the collateral that thrifts may use in borrowing from the Fed’ [Wall Street Journal]
collateralise /kə l t(ə)rəla z/, collateralize verb to secure a debt by means of a collateral
collateral loan /kə l t(ə)rəl ləυn/ noun a loan secured on assets
colleague / kɒli / noun a person who works in the same organisation as another
collect /kə lekt/ verb 1. to get money which is owed to you by making the person who owes it pay to collect a debt to go and make someone pay a debt 2. to take things away from a place
We have to collect the stock from the warehouse. adverb, adjective referring to a phone call which the person receiving the call agrees to pay for
collect call /kə lekt kɔ l/ noun a telephone call which the person receiving the call agrees to pay for
collectibles /kə lekt b(ə)lz/ plural noun items which people collect, e.g. stamps, playing cards or matchboxes
collecting agency /kə lekt ŋ
e d$ənsi/ noun an agency which col-
lects money owed to other companies for a commission
collection /kə lekʃən/ noun 1. the act of getting money together, or of making someone pay money which is owed tax collection or collection of tax bills for collection bills where payment is due 2. the fetching of goods The stock is in the warehouse awaiting collection.
to hand something in for collection to leave something for someone to come and collect
collection charge /kə lekʃən tʃɑ d$/, collection rate /kə lekʃən
re t/ noun a charge for collecting something
collections /kə lekʃənz/ plural noun money which has been collected
collector /kə lektə/ noun a person who makes people pay money which is owed He works as a debt collector.
colon / kəυlɒn/ noun a unit of currency used in Costa Rica and El Salvador
column / kɒləm/ noun a series of numbers arranged one underneath the other to add up a column of figures Put the total at the bottom of the column.
combine / kɒmba n/ noun a large financial or commercial group a German industrial combine
COMECON / kɒmikɒn/ noun formerly, an economic alliance of countries in Eastern Europe, including Bulgaria, Czechoslovakia, Hungary, Poland, Romania and the USSR, and also including Cuba, Vietnam and Mongolia. Full form Council for Mutual Eco-
nomic Assistance
COMEX abbreviation New York Commodity Exchange
COMIT index noun the index of prices on the Milan Stock Exchange
commerce / kɒm% s/ noun the buying and selling of goods and services
commercial /kə m% ʃ(ə)l/ adjective
1. referring to business 2. profitable not a commercial proposition not likely to make a profit
commercial aircraft /kə m% ʃ(ə)leəkrɑ ft/ noun an aircraft used to carry
cargo or passengers for payment
commercial attaché /kə m% ʃ(ə)l ə t ʃe / noun a diplomat whose job is
commercial bank
to promote the commercial interests of his or her country
commercial bank /kə m% ʃ(ə)l b ŋk/ noun a bank which offers banking services to the public, as opposed to a merchant bank
commercial bill /kə m% ʃ(ə)l b l/ noun a bill of exchange issued by a company (a trade bill) or accepted by a bank (a bank bill) (as opposed to Treasury bills which are issued by the government)
commercial directory /kə m% ʃ(ə)l da rekt(ə)ri/ noun a book which lists
all the businesses and business people in a town
commercial district /kə m% ʃ(ə)ld str kt/ noun the part of a town where
offices and shops are located
commercial failure /kə m% ʃ(ə)lfe ljə/ noun a financial collapse or bankruptcy
commercialisation /kə m% ʃ(ə)la -
ze ʃ(ə)n/, commercialization noun the act of making something into a business run for profit the commercialisation of museums
commercialise /kə m% ʃəla z/,
commercialize verb to make something into a business The holiday town has become unpleasantly commercialised.
commercial law /kə m% ʃ(ə)l lɔ / noun the laws regarding business
commercial lawyer /kə m% ʃ(ə)llɔ jə/ noun a person who specialises in company law or who advises companies on legal problems
commercially /kə m% ʃ(ə)li/ adverb in a business way not commercially viable not likely to make a profit
commercial mortgage /kə-
m% ʃ(ə)l mɔ d$/ noun a mortgage on commercial property, such as offices, shops and factories
commercial mortgage-backed securities /kə m% ʃ(ə)l mɔ d$ b kt s kjυər tiz/ plural noun shares
which are backed by the security of a commercial mortgage. Abbreviation
CMBS
commercial paper /kə m% ʃ(ə)lpe pə/ noun an IOU issued by a company to raise a short-term loan. Abbreviation CP
68 Commissioner of Inland Revenue
commercial port /kə m% ʃ(ə)l pɔ t/ noun a port which has only goods traffic and no passengers
commercial property /kə m% ʃ(ə)lprɒpəti/ noun a building, or buildings,
used as offices or shops
commercial value /kə m% ʃ(ə)lv lju / noun the value that a thing would have if it were offered for sale
‘sample only – of no commercial value’ these goods are intended only as a sample and would not be worth anything if sold
commingling /kə m ŋ l ŋ/ noun US the action of mixing financial information from different sources so that no single source can be identified, as when the difference between personal financial information and company financial information is blurred
commission /kə m ʃ(ə)n/ noun 1. money paid to a salesperson or agent, usually a percentage of the sales made
She gets 10% commission on everything she sells. He is paid on a commission basis. he charges 10% commission he asks for 10% of sales as his payment 2. a group of people officially appointed to examine some problem He is the chairman of the government commission on export subsidies. The government has appointed a commission of inquiry to look into the problems of small exporters.
commission agent /kə m ʃ(ə)ne d$ənt/ noun an agent who is paid a
percentage of sales
commission broker /kə m ʃ(ə)nbrəυkə/ noun a stockbroker who works
for a commission
Commission des Opérations de Bourse noun the body which supervises the French Stock Exchanges (the equivalent of the British SIB or the American SEC). Abbreviation COB
commissioner /kə m ʃ(ə)nə/ noun an important official appointed by a government or other authority, or a member of a commission
Commissioner of Inland Revenue /kə m ʃ(ə)nə əv nləndrevenju / noun a person appointed
officially to supervise the collection of taxes, including income tax, capital gains tax and corporation tax, but not VAT
commission house |
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commute |
commission house /kə m ʃ(ə)n haυs/ noun a firm which buys or sells (usually commodities) for clients, and charges a commission for this service
Commission of the European Community /kə m ʃ(ə)n əv ðijυərəpi ən kə mju n ti/ noun same as
European Commission
commission rep /kə m ʃ(ə)n rep/ noun a representative who is not paid a salary but receives a commission on sales
commission sale /kə m ʃ(ə)n se l/ noun a sale where the salesperson is paid a commission
commit /kə m t/ verb to commit yourself to to guarantee something, especially a loan issue, or to guarantee to do something
commitment /kə m tmənt/ noun an agreement by an underwriting syndicate to underwrite a Note Issuance Facility
commitment fee /kə m tmənt fi / noun a fee paid to a bank which has arranged a line of credit which has not been fully used
commodity /kə mɒd ti/ noun something sold in very large quantities, especially a raw material such as a metal or a food such as wheat
COMMENT: Commodities are either traded for immediate delivery (as ‘actuals’ or ‘physicals’), or for delivery in the future (as ‘futures’). Commodity markets deal either in metals (aluminium, copper, lead, nickel, silver and zinc) or in ‘soft’ items, such as cocoa, coffee, sugar and oil.
commodity exchange /kə mɒd ti
ks tʃe nd$/ noun a place where commodities are bought and sold
commodity futures /kə mɒd tifju tʃəz/ plural noun commodities traded for delivery at a later date Silver rose 5% on the commodity futures market yesterday.
commodity market /kə mɒd timɑ k t/ noun a place where people buy and sell commodities
commodity trader /kə mɒd titre də/ noun a person whose business is buying and selling commodities
common / kɒmən/ adjective belonging to several different people or to everyone
Common Agricultural Policy
/ kɒmən r k ltʃ(ə)rəl pɒl si/ noun an agreement between members of the EU to protect farmers in EU countries by paying subsidies to fix the prices of farm produce. Abbreviation
CAP
common carrier / kɒmən k riə/ noun a firm which carries goods or passengers, and which anyone can use
common dividend / kɒmənd v dend/ noun a dividend payable on common stock
common equity / kɒmən ekw ti/ noun ordinary shares in a company
common law / kɒmən lɔ / noun a law as laid down in decisions of courts, rather than by statute
common ownership / kɒmənəυnəʃ p/ noun a situation where a
business is owned by the employees who work in it
common pricing / kɒmən pra s ŋ/ noun the illegal fixing of prices by several businesses so that they all charge the same price
common seal / kɒmən si l/, company’s seal / k mp(ə)niz si l/ noun a
metal stamp for stamping documents with the name of the company to show that they have been approved officially
to attach the company’s seal to a document
common stock / kɒmən stɒk/ noun US ordinary shares in a company, giving shareholders a right to vote at meetings and to receive dividends
Communauté financière africaine full form of CFA
Communauté Française du Pacifique full form of CFP
commutation factors / kɒmjυ-
te ʃ(ə)n f ktəz/ plural noun factors used to calculate the amount of pension to be given up in exchange for a lump sum
commute /kə mju t/ verb 1. to travel to work from home each day He commutes from the country to his office in the centre of town. She spends two hours a day commuting to and from work. We have bought a house within commuting distance of London. 2. to change a right into cash
Companies Act
‘Commuting is never business use. A trip to work is personal and not deductible. And making a business phone call or holding a business meeting in your car while you drive will not change that fact’ [Nation’s Business]
Companies Act / k mp(ə)niz kt/ noun an Act of Parliament which regulates the workings of companies, stating the legal limits within which companies may do their business
Companies Registration Office
/ k mp(ə)niz red$ stre ʃ(ə)n ɒf s/ noun an office of the Registrar of Companies, the official organisation where the records of companies must be deposited, so that they can be inspected by the public. Abbreviation CRO (NOTE:
Also called Companies’ House.)
company / k mp(ə)ni/ noun a business organisation, a group of people organised to buy, sell or provide a service, usually for profit to put a company into liquidation to close a company by selling its assets for cash to set up a company to start a company legally
COMMENT: A company can be incorporated (with memorandum and articles of association) as a private limited company, and adds the initials ‘Ltd’ after its name, or as a public limited company, when its name must end in ‘Plc’. Unincorporated companies are partnerships such as firms of solicitors, architects, accountants, etc., and they add the initials ‘Co.’ after their name.
company car / k mp(ə)ni kɑ / noun a car which belongs to a company and is lent to an employee to use for business or other purposes
company director / k mp(ə)ni da -
rektə/ noun a person appointed by the shareholders to help run a company
company doctor / k mp(ə)nidɒktə/ noun 1. a doctor who works for
a company and looks after sick workers
The staff are all sent to see the company doctor once a year. 2. a specialist businessperson who rescues businesses which are in difficulties
company flat / k mp(ə)ni fl t/ noun a flat owned by a company and used by members of staff from time to time (NOTE: The US term is company
apartment.)
company law / k mp(ə)ni lɔ / noun laws which refer to the way companies work
70 |
compensation deal |
company pension scheme
/ k mp(ə)ni penʃən ski m/ noun
same as occupational pension scheme He decided to join the company’s pension scheme.
company promoter / k mp(ə)ni prə məυtə/ noun a person who organ-
ises the setting up of a new company
company registrar / k mp(ə)nired$ strɑ / noun the person who keeps
the share register of a company
company secretary / k mp(ə)nisekr t(ə)ri/ noun a person who is re-
sponsible for a company’s legal and financial affairs
comparable / kɒmp(ə)rəb(ə)l/ adjective which can be compared The two sets of figures are not comparable.
which is the nearest company comparable to this one in size? which company is most similar in size to this one?
on a comparable-store basis when comparing similar stores belonging to different companies
compare with /kəm peə w ð/ verb to examine two things to see where they are the same and where they differ
How do the sales this year compare with last year’s? Compared with the previous month, last month was terrific.
compensate / kɒmpənse t/ verb to give someone money to make up for a loss or injury In this case we will compensate a manager for loss of commission. The company will compensate the employee for the burns suffered in the accident. (NOTE: You compensate
someone for something.)
compensating balance
/ kɒmpənse t b ləns/ noun the amount of money which a customer has to keep in a bank account in order to get free services from the bank
compensation / kɒmpən se ʃ(ə)n/ noun 1. compensation for damage payment for damage done compensation for loss of office payment to a director who is asked to leave a company before their contract ends compensation for loss of earnings payment to someone who has stopped earning money or who is not able to earn money 2. US a salary
compensation deal / kɒmpən-
se ʃ(ə)n di l/ noun a deal where an exporter is paid (at least in part) in
compensation fund |
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complete |
goods from the country to which he is exporting
compensation fund / kɒmpən-
se ʃ(ə)n f nd/ noun a fund operated by the Stock Exchange to compensate investors for losses suffered when members of the Stock Exchange default
compensation package
/ kɒmpən se ʃ(ə)n p k d$/ noun the salary, pension and other benefits offered with a job
‘…golden parachutes are liberal compensation packages given to executives leaving a company’ [Publishers Weekly]
compensatory / kɒmpən se t(ə)ri/ adjective which compensates for something
compensatory financing
/ kɒmpənse t(ə)ri fa n ns ŋ/ noun finance from the IMF to help a country in difficulty
compete /kəm pi t/ verb to compete with someone or with a company to try to do better than another person or another company We have to compete with cheap imports from the Far East. They were competing unsuccessfully with local companies on their home territory. the two companies are competing for a market share or for a contract each company is trying to win a larger part of the market, trying to win the contract
competence framework
/ kɒmp t(ə)ns fre mw% k/ noun the set of duties or tasks performed as part of a job with the standards which should be achieved in these duties
competing /kəm pi t ŋ/ adjective which competes competing firms firms which compete with each other competing products products from different companies which have the same use and are sold in the same markets at similar prices
competition / kɒmpə t ʃ(ə)n/ noun
1.a situation where companies or individuals are trying to do better than others, e.g. trying to win a larger share of the market, or to produce a better or
cheaper product or to control the use of resources keen competition strong competition We are facing keen competition from European manufacturers.
2.the competition companies which are trying to compete with your product
We have lowered our prices to beat the competition. The competition have brought out a new range of products.
‘…profit margins in the industries most exposed to foreign competition are worse than usual’ [Sunday Times]
‘…competition is steadily increasing and could affect profit margins as the company tries to retain its market share’ [Citizen (Ottawa)]
competitive /kəm pet t v/ adjective
1. involving competition 2. intended to compete with others, usually by being cheaper or better competitive price a low price aimed to compete with a rival product competitive product a product made or priced to compete with existing products
‘…the company blamed fiercely competitive market conditions in Europe for a £14m operating loss last year’ [Financial Times]
competitive bid /kəm pet t v b d/ noun a method of auctioning new securities, where various underwriters offer the stock at competing prices
competitive devaluation /kəm-
pet t v di v lju e ʃ(ə)n/ noun a devaluation of a currency to make a country’s goods more competitive on the international markets
competitively /kəm pet t vli/ adverb competitively priced sold at a low price which competes with the price of similar products from other companies
competitiveness /kəm pet t vnəs/ noun the fact of being competitive
‘…farmers are increasingly worried by the growing lack of competitiveness for their products on world markets’ [Australian Financial Review]
competitive pricing /kəm pet t vpra s ŋ/ noun the practice of putting low prices on goods so as to compete with other products
competitive products /kəm-
pet t v prɒd kts/ plural noun products made to compete with existing products
competitor /kəm pet tə/ noun a person or company that is competing with another Two German firms are our main competitors.
‘…sterling labour costs continue to rise between 3% and 5% a year faster than in most of our competitor countries’ [Sunday Times]
complete /kəm pli t/ verb to sign a contract for the sale of a property and to
completion
exchange it with the other party, so making it legal
completion /kəm pli ʃ(ə)n/ noun the act of finishing something completion of a contract the act of signing a contract for the sale of a property whereby the buyer pays and the seller transfers ownership to the buyer
completion date /kəm pli ʃ(ə)n de t/ noun a date when something will be finished
compliance /kəm pla əns/ noun agreement to do what is ordered
compliance department /kəm-
pla əns d pɑ tmənt/ noun a department in a stockbroking firm which makes sure that the Stock Exchange rules are followed and that confidentiality is maintained in cases where the same firm represents rival clients
compliance officer /kəm pla ənsɒf sə/ noun an employee of a financial organisation whose job is to make sure that the organisation complies with the regulations governing its business
comply /kəm pla / verb to agree to do what is ordered (NOTE: complies – complying – complied) to comply with a court order to obey an order given by a court
composite / kɒmpəz t/ adjective made up a various parts joined together
composite index / kɒmpəz tndeks/ noun an index made from vari-
ous indices
composition / kɒmpə z ʃ(ə)n/ noun an agreement between a debtor and creditors, where the debtor settles a debt by repaying only part of it
compound /kəm paυnd/ verb 1. to agree with creditors to settle a debt by paying part of what is owed 2. to add to
The interest is compounded daily.
compounded /kəm paυnd d/ adjective added together
compounded annual return
/kəm paυnd d njuəl r t% n/ noun a net return on an investment, calculated after adding interest and deducting tax
compounded interest rate /kəm-
paυnd d ntrəst re t/ noun an interest rate showing the effect of adding the interest to the capital
compounding method /kəm-
paυnd ŋ meθəd/ noun the method
72 |
computer |
used when compounding interest (daily, monthly, quarterly or annually). Abbreviation CM
compound interest / kɒmpaυndntrəst/ noun interest which is added
to the capital and then earns interest itself
comprehensive insurance
/ kɒmpr hens v n ʃυərəns/, comprehensive policy / kɒmpr hens v
pɒl si/ noun an insurance policy which covers you against all risks which are likely to happen
compromise / kɒmprəma z/ noun an agreement between two sides, where each side gives way a little Management offered £5 an hour, the union asked for £9, and a compromise of £7.50 was reached. verb to reach an agreement by giving way a little He asked £15 for it, I offered £7 and we compromised on £10.
comptroller /kən trəυlə/ noun a financial controller
Comptroller of the Currency
/kən trəυlə əv θə k rənsi/ noun an official of the US government responsible for the regulation of US national banks (that is, banks which are members of the Federal Reserve)
compulsory /kəm p lsəri/ adjective which is forced or ordered
compulsory liquidation /kəm-
p lsəri l kw de ʃ(ə)n/ noun liquidation which is ordered by a court
compulsory purchase /kəm-
p lsəri p% tʃ s/ noun the purchase of an annuity with the fund built up in a personal pension scheme
compulsory winding up /kəm-
p lsəri wa nd ŋ p/ noun liquidation which is ordered by a court
computable /kəm pju təb(ə)l/ adjective which can be calculated
computation / kɒmpjυ te ʃ(ə)n/ noun a calculation
computational error
/ kɒmpjυte ʃ(ə)nəl erə/ noun a mistake made in calculating
compute /kəm pju t/ verb to calculate, to do calculations
computer /kəm pju tə/ noun an electronic machine which calculates or stores information and processes it automatically
computer bureau |
73 |
concessionaire |
computer bureau /kəm pju təbjυərəυ/ noun an office which offers
to do work on its computers for companies which do not own their own computers
computer department /kəm-
pju tə d pɑ tmənt/ noun a department in a company which manages the company’s computers
computer error /kəm pju tər erə/ noun a mistake made by a computer
computer file /kəm pju tə fa l/ noun a section of information on a computer, e.g. the payroll, list of addresses or list of customer accounts
computerise /kəm pju təra z/, computerize verb to change something from a manual system to one using computers We have computerised all our records. Stock control is now completely computerised.
computerised /kəm pju təra zd/,
computerized adjective carried out by computers a computerised invoicing or filing system
computer language /kəm pju təl ŋ w d$/ noun a system of signs, letters and words used to instruct a computer
computer listing /kəm pju təl st ŋ/ noun a printout of a list of items taken from data stored in a computer
computer magazine /kəm pju tə m ə zi n/ noun a magazine with articles on computers and programs
computer manager /kəm pju təm n d$ə/ noun a person in charge of a computer department
computer model /kəm pju təmɒd(ə)l/ noun a system for calculating investment opportunities, used by fund managers to see the right moment to buy or sell
computer program /kəm pju təprəυ r m/ noun instructions to a computer telling it to do a particular piece of work to buy a graphics program The accounts department is running a new payroll program.
computer programmer /kəm-
pju tə prəυ r mə/ noun a person who writes computer programs
computer programming /kəm-
pju tə prəυ r m ŋ/ noun the work of writing programs for computers
computer-readable /kəm pju təri dəb(ə)l/ adjective which can be read and understood by a computer com- puter-readable codes
computer run /kəm pju tə r n/ noun a period of work done by a computer
computer services /kəm pju təs% v s z/ plural noun work using a computer, done by a computer bureau
computer system /kəm pju təs stəm/ noun a set of programs, com-
mands, etc., which run a computer
computer time /kəm pju tə ta m/ noun the time when a computer is being used, paid for at an hourly rate
computing /kəm pju t ŋ/ noun the operating of computers
computing speed /kəm pju t ŋ spi d/ noun the speed at which a computer calculates
concealment of assets /kən-
si lmənt əv sets/ noun the act of hiding assets so that creditors do not know they exist
concentration / kɒnsən tre ʃ(ə)n/ noun 1. the action of grouping a large number of things together. Also called
market concentration 2. the action of a bank in lending too much to one single sector of the economy (NOTE: It is gen-
erally thought that banks should not make more than 10% of their loans to a single sector.)
concern /kən s% n/ noun a business or company sold as a going concern sold as an actively trading company
concert / kɒnsət/ noun to act in concert (of several people) to work together to achieve an aim
concert party / kɒnsət pɑ ti/ noun an arrangement where several people or companies work together in secret (usually to acquire another company through a takeover bid)
concession /kən seʃ(ə)n/ noun 1. the right to use someone else’s property for business purposes 2. the right to be the only seller of a product in a place
She runs a jewellery concession in a department store. 3. an allowance, such as a reduction of tax or price
concessionaire /kən seʃə neə/ noun a person or business that has the
concessionary fare
right to be the only seller of a product in a place
concessionary fare /kən-
seʃ(ə)nəri feə/ noun a reduced fare for some types of passenger (such as pensioners, students or employees of a transport company)
conciliation /kən s li e ʃ(ə)n/ noun the practice of bringing together the parties in a dispute with an independent third party, so that the dispute can be settled through a series of negotiations
condition /kən d ʃ(ə)n/ noun 1. something which has to be carried out as part of a contract or which has to be agreed before a contract becomes valid
on condition that provided that
They were granted the lease on condition that they paid the legal costs. 2. a general state or the general way of life in a certain place item sold in good condition Working in unhealthy cond
The union has complained of the bad working conditions in the factory. What was the condition of the car when it was sold? Adverse trading conditions affected our profits.
conditional /kən d ʃ(ə)n(ə)l/ adjective provided that specific conditions are taken into account to give a conditional acceptance to accept, provided that specific things happen or that specific terms apply
conditionality /kən d ʃ(ə) n l ti/ noun the fact of having conditions attached
conditional offer /kən d ʃ(ə)nəlɒfə/ noun an offer to buy provided that specific terms apply
conditions of employment /kən-
d ʃ(ə)nz əv m plɔ mənt/ plural noun the terms of a contract of employment
conditions of sale /kən d ʃ(ə)nz əvse l/ plural noun agreed ways in which a sale takes place, e.g. discounts or credit terms
condominium / kɒndə m niəm/ noun US a system of ownership, where a person owns an apartment in a building, together with a share of the land, stairs, roof, etc.
conference proceedings
/ kɒnf(ə)rəns prə si d ŋz/ plural noun a written report of what has taken place at a conference
74 |
conservatively |
confidential report / kɒnf denʃəl r pɔ t/ noun a secret document which must not be shown to other people
confirm /kən f% m/ verb 1. to say again that something agreed before is correct to confirm a hotel reservation or a ticket or an agreement or a bookingThey wrote to confirm the details of the contract. 2. to say that letters of credit from foreign purchasers are agreed, and that the sellers will be paid for orders placed
confirmation / kɒnfə me ʃ(ə)n/ noun 1. the act of writing to confirm the details of a transaction or agreement 2. an agreement that orders from foreign purchasers will be paid
confiscation / kɒnf s ke ʃ(ə)n/ noun the act of taking away someone’s possessions as a punishment
conflict of interest / kɒnfl kt əvntrəst/ noun a situation where a per-
son or firm may profit personally from decisions taken in an official capacity
conglomerate /kən lɒmərət/ noun a group of subsidiary companies linked together and forming a group, each making very different types of products
consensus /kən sensəs/ noun an opinion which most people agree on management by consensus the Wall Street consensus the general opinion among analysts on Wall Street
consequential / kɒns kwenʃəl/ adjective which follows as a consequence
consequential |
loss |
/ kɒns kwenʃəl lɒs/ noun loss which occurs as the result of some other loss. Also called indirect loss
conservative /kən s% vət v/ adjective careful, not overestimating His forecast of expenditure was very conservative or He made a conservative forecast of expenditure. a conservative estimate a calculation which probably underestimates the final figure Their turnover has risen by at least 20% in the last year, and that is probably a conservative estimate.
‘…we are calculating our next budget income at an oil price of $15 per barrel. We know it is a conservative projection, but we do not want to come in for a shock should prices dive at any time during the year’ [Lloyd’s List]
conservatively /kən s% vət vli/ adverb not overestimating The total
conservator
sales are conservatively estimated at £2.3m.
conservator /kən s% vətər/ noun US an official appointed by a court to manage a person’s affairs
consider /kən s də/ verb to think seriously about something to consider the terms of a contract to examine a contract and discuss whether the terms are acceptable
consideration /kən s də re ʃ(ə)n/ noun 1. serious thought We are giving consideration to moving the head office to Scotland. 2. something valuable exchanged as part of a contract
consign /kən sa n/ verb to consign goods to someone to send goods to someone for them to use or to sell for you
consignation / kɒnsa ne ʃ(ə)n/ noun the act of consigning
consignee / kɒnsa ni / noun a person who receives goods from someone for their own use or to sell for the sender
consignment /kən sa nmənt/ noun
1. the sending of goods to someone who will sell them for you goods on consignment goods kept for another company to be sold on their behalf for a commission 2. a group of goods sent for sale A consignment of goods has arrived. We are expecting a consignment of cars from Japan.
‘…some of the most prominent stores are gradually moving away from the traditional consignment system, under which manufacturers agree to repurchase any unsold goods, and in return dictate prices and sales strategies and even dispatch staff to sell the products’ [Nikkei Weekly]
consignment note /kən sa nmənt nəυt/ noun a note saying that goods have been sent
consignor /kən sa nə/ noun a person who consigns goods to someone
COMMENT: The goods remain the property of the consignor until the consignee sells or pays for them.
consolidate /kən sɒl de t/ verb 1. to include the accounts of several subsidiary companies as well as the holding company in a single set of accounts 2. to group goods together for shipping 3. to remain at the same level for some time, before moving up again
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consular invoice |
consolidated accounts /kən-
sɒl de t d ə kaυnts/ plural noun accounts where the financial position of several different companies (i.e. a holding company and its subsidiaries) are recorded together
consolidated balance sheet
/kən sɒl de t d b ləns ʃi t/ noun a balance sheets of subsidiary companies grouped together into the balance sheet of the parent company
consolidated fund /kən sɒl de t d f nd/ noun money in the Exchequer which comes from tax revenues and is used to pay for government expenditure
consolidated shipment /kən-
sɒl de t d ʃ pmənt/ noun goods from different companies grouped together into a single shipment
consolidated stock /kən-
sɒl de t d stɒk/ noun full form of consols
consolidation /kən sɒl de ʃ(ə)n/ noun 1. the grouping together of goods for shipping 2. taking profits from speculative investments and investing them safely in blue-chip companies
consols / kɒnsɒlz/ plural noun government bonds which pay interest but do not have a maturity date
consortium /kən sɔ tiəm/ noun a group of companies which work together A consortium of Canadian companies or A Canadian consortium has tendered for the job. (NOTE: The
plural is consortia.)
‘…the consortium was one of only four bidders for the £2 billion contract to run the lines, seen as potentially the most difficult contract because of the need for huge investment’ [Times]
constructive notice /kən str kt vnəυt s/ noun 1. knowledge which the law says a person has of something (whether or not the person actually has it) because certain information is available to him if he makes reasonable inquiry 2. US a printed notice published in a newspaper to inform the public that something has taken place
consular invoice / kɒnsjυlənvɔ s/ noun an invoice stamped by a consul to show that goods being imported have correct documentation and are being shipped legally