Dictionary_of_Banking_and_Finance
.pdfconsult
consult /kən s lt/ verb to ask an expert for advice We consulted our accountant about our tax.
consultancy /kən s ltənsi/ noun the act of giving specialist advice a consultancy firm She offers a consultancy service.
consultant /kən s ltənt/ noun a specialist who gives advice an engineering consultant a management consultant a tax consultant
consulting /kən s lt ŋ/ adjective giving specialist advice a consulting engineer
consulting actuary /kən s lt ŋ
ktjuəri/ noun an independent actuary who advises large pension funds
consumable goods /kən-
sju məb(ə)l υdz/, consumables
/kən sju məb(ə)lz/ plural noun goods which are bought by members of the public and not by companies. Also called consumer goods
consumer /kən sju mə/ noun a person or company that buys and uses goods and services Gas consumers are protesting at the increase in prices.The factory is a heavy consumer of water.
consumer bank /kən sju məb ŋk/ noun same as retail bank
consumer council /kən sju məkaυns(ə)l/ noun a group representing the interests of consumers
consumer credit /kən sju məkred t/ noun the credit given by shops, banks and other financial institutions to consumers so that they can buy goods
(NOTE: Lenders have to be licensed under the Consumer Credit Act, 1974. The US term is installment credit.)
Consumer Credit Act, 1974 /kən-
sju mə kred t kt/ noun an Act of Parliament which licenses lenders, and requires them to state clearly the full terms of loans which they make, including the APR
Consumer Credit Counselling Service /kən sju mə kred tkaυnsəl ŋ s% v s/ noun a service
which advises people about problems with items bought on credit
consumer durables /kən sju mədjυərəb(ə)lz/ plural noun items which
are bought and used by the public, e.g.
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washing machines, refrigerators or cookers
consumer goods /kən sju məυdz/ plural noun same as consum-
able goods
consumer lease /kən sju mə li s/ noun a lease for the use or purchase of an item of equipment to be used in the home
consumer panel /kən sju məp n(ə)l/ noun a group of consumers who report on products they have used so that the manufacturers can improve them or use what the panel says about them in advertising
Consumer Price Index /kən-
sju mə pra s ndeks/ noun an American index showing how prices of consumer goods have risen over a period of time, used as a way of measuring inflation and the cost of living. Abbreviation CPI (NOTE: The UK term
is retail prices index.)
‘…analysis of the consumer price index for the first half of the year shows that the rate of inflation went down by about 12.9 per cent’ [Business Times (Lagos)]
consumer protection /kən sju mə prə tekʃən/ noun the activity of pro-
tecting consumers against unfair or illegal traders
consumer research /kən sju mə r s% tʃ/ noun research into why consumers buy goods and what goods they may want to buy
consumer resistance /kən sju mə r z stəns/ noun a lack of interest by
consumers in buying a new product
The new product met no consumer resistance even though the price was high.
consumer society /kən sju mə sə-
sa əti/ noun a type of society where consumers are encouraged to buy goods
consumer spending /kən sju məspend ŋ/ noun spending by private
households on goods and services
‘…companies selling in the UK market are worried about reduced consumer spending as a consequence of higher interest rates and inflation’ [Business]
contango /kən t ŋ əυ/ noun 1. the payment of interest by a stockbroker for permission to carry payment for shares from one account to the next (NOTE:
Contango is no longer applied on the London Stock Exchange because of the rolling account system, but it is still
contango day
applied on some other exchanges.) 2. a cash price which is lower than the forward price
contango day /kən t ŋ əυ de / noun formerly, the day when the rate of contango payments was fixed
contested takeover /kən test dte kəυvə/ noun a takeover bid where
the board of the target company does not recommend it to the shareholders and tries to fight it. Also called hostile
bid
contingency /kən t nd$ənsi/ noun a possible state of emergency when decisions will have to be taken quickly to add on 10% to provide for contingencies to provide for further expenditure which may be incurred
contingency fund /kən t nd$ənsi f nd/ noun money set aside in case it is needed urgently
contingency plan /kən t nd$ənsi pl n/ noun a plan which will be put into action if something happens which no one expects to happen
contingent expenses /kən-
t nd$ənt k spens z/ plural noun expenses which will be incurred only if something happens
contingent liability /kən t nd$ənt la ə b l ti/ noun a liability which may or may not occur, but for which provision is made in a company’s accounts, as opposed to ‘provisions’, where money is set aside for an anticipated expenditure
contingent policy /kən t nd$(ə)ntpɒl si/ noun an insurance policy which pays out only if something happens (such as if a person named in the policy dies before the person due to benefit)
contingent reserves /kən-
t nd$ənt r z% vz/ plural noun money set aside to cover unexpected payments
continuous compounding /kən-
t njυəs kəm paυnd ŋ/ noun a system where interest is calculated all the time and added to the principal
contra / kɒntrə/ verb to contra an entry to enter a similar amount in the opposite side of an account
contra account / kɒntrə ə kaυnt/ noun an account which offsets another account, e.g. where a company’s supplier is not only a creditor in that com-
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pany’s books but also a debtor because it has purchased goods on credit
contract noun / kɒntr kt/ 1. a legal agreement between two parties to draw up a contract to draft a contractto sign a contract the contract is binding on both parties both parties signing the contract must do what is agreed under contract bound by the terms of a contract The firm is under contract to deliver the goods by November. to void a contract to make a contract invalid 2. by private contract by private legal agreement 3. an agreement for the supply of a service or goods to enter into a contract to supply spare parts to sign a contract for £10,000 worth of spare parts to put work out to contract to decide that work should be done by another company on a contract, rather than by employing members of staff to do it to award a contract to a company, to place a contract with a company to decide that a company shall have the contract to do work for you to tender for a contract to put forward an estimate of cost for work under contract the company is in breach of contract the company has failed to do what was agreed in the contract 4. (Stock Exchange) a deal to buy or sell shares,
or an agreement to purchase options or futures verb /kən tr kt/ to agree to
do some work on the basis of a legally binding contract to contract to supply spare parts or to contract for the supply of spare parts the supply of spare parts was contracted out to Smith Ltd
Smith Ltd was given the contract for supplying spare parts to contract out of an agreement to withdraw from an agreement with the written permission of the other party
COMMENT: A contract is an agreement between two or more parties which creates legal obligations between them. Some contracts are made ‘under seal’, i.e. they are signed and sealed by the parties; most contracts are made orally or in writing. The essential elements of a contract are: (a) that an offer made by one party should be accepted by the other; (b) consideration (i.e. payment of money); (c) the intention to create legal relations. The terms of a contract may be express or implied. A breach of contract by one party
contracted in
entitles the other party to sue for damages or to ask for something to be done.
contracted in /kən tr kt d n/ adjective referring to a member of an occupational or personal pension scheme who is also a member of SERPS
contracted out /kən tr kt d aυt/ adjective referring to a member of an occupational or personal pension scheme who is not a member of SERPS
contract for deed / kɒntr kt fədi d/ noun US a written agreement showing the terms of the sale of a property, where the title is only transferred to the purchaser after he has made a stated number of monthly payments
contracting party /kən tr kt ŋ
pɑ ti/ noun a person or company that signs a contract
contract law / kɒntr kt lɔ / noun laws relating to private agreements
contract note / kɒntr kt nəυt/ noun a note showing that shares have been bought or sold but not yet paid for, also including the commission
contract of employment
/ kɒntr kt əv m plɔ mənt/ noun a contract between an employer and an employee stating all the conditions of work. Also called employment
contract
contractor /kən tr ktə/ noun a person or company that does work according to a written agreement
contractual /kən tr ktʃuəl/ adjective according to a contract contractual conditions
contractual liability /kən-
tr ktʃuəl la ə b l ti/ noun a legal responsibility for something as stated in a contract
contractually /kən tr ktjuəli/ adverb according to a contract The company is contractually bound to pay our expenses.
contractual obligation /kən-
tr ktʃuəl ɒbl e ʃ(ə)n/ noun something that a person is legally forced to do through having signed a contract to do to fulfil your contractual obligations to do what you have agreed to do in a contract he is under no contractual obligation to buy he has signed no agreement to buy
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contractual savings /kən-
tr ktʃuəl se v ŋs/ plural noun savings in the form of regular payments into long-term investments such as pension schemes
contract work / kɒntr kt w% k/ noun work done according to a written agreement
contra entry / kɒntrə entri/ noun an entry made in the opposite side of an account to make an earlier entry worthless, i.e. a debit against a credit
contrarian /kɒn treəriən/ adjective going against a trend
contrarian research /kɒn treəriən r s% tʃ/ noun research that shows you should buy shares against the current trend
contrarian stockpicking /kɒn-
treəriən stɒkp k ŋ/ noun choosing stocks and shares against the trend of the market
contribute /kən tr bju t/ verb to give money or add to money We agreed to contribute 10% of the profits.They had contributed to the pension fund for 10 years.
contribution / kɒntr bju ʃ(ə)n/ noun money paid to add to a sum
contribution of capital /kɒntr -
bju ʃ(ə)n əv k p t(ə)l/ noun money paid to a company as additional capital
contributor /kən tr bjυtə/ noun a person who gives money
contributor of capital /kən-
tr bjυtər əv k p t(ə)l/ noun a person who contributes capital
contributory /kən tr bjυt(ə)ri/ adjective which helps to cause Falling exchange rates have been a contributory factor in the company’s loss of profits.
contributory pension scheme
/kən tr bjυt(ə)ri penʃən ski m/ noun a scheme where the worker pays a proportion of his or her salary into the pension fund
control /kən trəυl/ noun 1. the power or ability to direct something The company is under the control of three shareholders. Top management exercises tight control over spending. to gain control of a business to buy more than 50% of the shares so that you can direct the business 2. the act of restrict-
control key
ing or checking something or making sure that something is kept in check under control kept in check Expenses are kept under tight control. The company is trying to bring its overheads back under control. out of control not kept in check Costs have got out of control. verb 1. to control a company to be able to direct the business of a company, because you own more than 50% of the shares The business is controlled by a company based in Luxembourg. The company is controlled by the majority shareholder. 2. to make sure that something is kept in check or is not allowed to develop
The government is fighting to control inflation or to control the rise in the cost of living. (NOTE: controlling –
controlled)
control key /kən trəυl ki / noun a key on a computer which works part of a program
controlled /kən trəυld/ adjective ruled or kept in check
controlled economy /kən trəυld -
kɒnəmi/ noun an economy where most business activity is directed by orders from the government
controller /kən trəυlə/ noun 1. a person who controls something (especially the finances of a company) 2. US the chief accountant in a company
controlling interest /kən trəυl ŋ
ntrəst/ noun to have a controlling interest in a company to own more than 50% of the shares so that you can direct how the company is run
convergence /kən v% d$əns/ noun
1. a situation where the economic factors applying in two countries move closer together, e.g. when basic interest rates, or budget deficits become more and more similar 2. a situation where the price of a commodity on the futures market moves towards the spot price as settlement date approaches
conversion /kən v% ʃ(ə)n/ noun 1. a change 2. the action of changing convertible loan stock into ordinary shares
conversion discount /kən-
v% ʃ(ə)n d skaυnt/, conversion premium /kən v% ʃ(ə)n pri miəm/ noun
the difference between the price of convertible stock and the ordinary shares into which they are to be converted
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convertible loan stock |
(NOTE: If the convertible stock is cheaper, the difference is a conversion premium; if the stock is dearer, the difference is a conversion discount.)
conversion issue /kən v% ʃ(ə)nʃu / noun an issue of new bonds (called ‘conversion bonds’) timed to coincide with the date of maturity of older bonds, with the intention of persuading investors to reinvest
conversion of funds /kən v% ʃ(ə)n əv f ndz/ noun the act of using money which does not belong to you for a purpose for which it is not supposed to be used
conversion period /kən v% ʃ(ə)np əriəd/ noun a time during which con-
vertible loan stock may be changed into ordinary shares
conversion price /kən v% ʃ(ə)n pra s/, conversion rate /kən v% ʃ(ə)n
re t/ noun 1. a price at which preference shares are converted into ordinary shares 2. a rate at which a currency is changed into a foreign currency
conversion value /kən v% ʃ(ə)nv lju / noun a value of convertible stock, including the extra value of the ordinary shares into which they may be converted
convert /kən v% t/ verb 1. to change money of one country for money of another We converted our pounds into Swiss francs. 2. to convert funds to your own use to use someone else’s money for yourself
convertibility /kən v% tə b ləti/ noun the ability of a currency to be exchanged for another easily
convertible ARM /kən v% təb(ə)l e ɑ r em/ noun US an adjustable rate mortgage that can converted to a fixed rate mortgage
convertible currency /kən-
v% təb(ə)l k rənsi/ noun a currency which can easily be exchanged for another
convertible debenture /kən-
v% təb(ə)l d bentʃə/ noun a debenture or loan stock which can be exchanged for ordinary shares at a later date
convertible loan stock /kən-
v% təb(ə)l ləυn stɒk/ noun money
convertibles
lent to a company which can be converted into shares at a later date
convertibles /kən v% təb(ə)lz/ plural noun corporate bonds or preference shares which can be converted into ordinary shares at a set price on set dates
conveyance /kən ve əns/ noun a legal document which transfers a property from the seller to the buyer
conveyancer /kən ve ənsə/ noun a person who draws up a conveyance
conveyancing /kən ve əns ŋ/ noun the work of legally transferring a property from a seller to a buyer
COO abbreviation chief operating officer
cooling-off period / ku l ŋ ɒfp əriəd/ noun (during an industrial
dispute) a period when negotiations have to be carried on and no action can be taken by either side
cooperative /kəυ ɒp(ə)rət v/ adjective where the profits are shared among the workers
cooperative bank /kəυ ɒp(ə)rət v b ŋk/ noun a bank which is owned by its members, who deposit money or who borrow money as loans
cooperative society /kəυɒp(ə)rət v sə sa əti/ noun an organi-
sation where customers and workers are partners and share the profits
copper / kɒpə/ noun a metal which is traded on commodity exchanges such as the London Metal Exchange
coproperty /kəυ prɒpəti/ noun ownership of property by two or more people together
coproprietor / kəυprə pra ətə/ noun a person who owns a property with another person or several other people
copyright / kɒpira t/ noun a legal right which protects the creative work of writers and artists and prevents others from copying or using it without authorisation, and which also applies to such things as company logos and brand names
copyright notice / kɒpira t nəυt s/ noun a note in a book showing who owns the copyright and the date of ownership
cordoba / kɔ dəbə/ noun a unit of currency used in Nicaragua
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corner / kɔ nə/ noun 1. place where two streets or two walls join The Post Office is on the corner of the High Street and London Road. 2. a situation where one person or a group controls the supply of a certain commodity The syndicate tried to create a corner in the silver market. verb to corner the market to own most or all of the supply of a commodity and so control the price
The syndicate tried to corner the market in silver.
corner shop / kɔ nə ʃɒp/ noun a small privately owned general store
corp abbreviation US corporation
corporate / kɔ p(ə)rət/ adjective 1. referring to corporations or companies, or to a particular company as a whole 2. referring to business in general corporate America corporate Britain
‘…the prime rate is the rate at which banks lend to their top corporate borrowers’ [Wall Street Journal]
‘…if corporate forecasts are met, sales will exceed $50 million next year’ [Citizen (Ottawa)]
corporate bond / kɔ p(ə)rət bɒnd/ noun a loan stock officially issued by a company to raise capital, usually against the security of some of its assets (NOTE:
The company promises to pay a certain amount of interest on a set date every year until the redemption date, when it repays the loan.)
corporate finance / kɔ p(ə)rətfa n ns/ noun the financial affairs of companies
corporate governance
/ kɔ p(ə)rət v(ə)nəns/ noun a theory of the way companies should be run
corporate image / kɔ p(ə)rətm d$/ noun an idea which a company would like the public to have of it
corporate loan / kɔ p(ə)rət ləυn/ noun a loan issued by a corporation
corporate name / kɔ p(ə)rət ne m/ noun the name of a large corporation
corporate plan / kɔ p(ə)rət pl n/ noun a plan for the future work of a whole company
corporate planning / kɔ p(ə)rətpl n ŋ/ noun 1. the process of planning the future work of a whole company 2. planning the future financial state of a group of companies
corporate profits
corporate profits / kɔ p(ə)rətprɒf ts/ plural noun the profits of a
corporation
‘…corporate profits for the first quarter showed a 4 per cent drop from last year’ [Financial Times]
corporate raider / kɔ p(ə)rətre də/ noun a person or company which buys a stake in another company before making a hostile takeover bid
corporate resolution / kɔ p(ə)rətrezə lu ʃ(ə)n/ noun a document signed
by the officers of a corporation, naming those persons who can sign cheques, withdraw cash and have access to the corporation’s bank account
corporate secretary / kɔ p(ə)rətsekrət(ə)ri/ noun a person responsible
for the corporation’s legal and financial affairs
corporate spinoffs / kɔ p(ə)rətsp nɒfs/ plural noun small companies which have been split off from larger organisations
corporate taxpayers / kɔ p(ə)rətt kspe əz/ plural noun companies that pay tax
corporation / kɔ pə re ʃ(ə)n/ noun
1. a large company 2. US a company which is incorporated in the United States 3. a municipal authority
COMMENT: A corporation is formed by registration with the Registrar of Companies under the Companies Act (in the case of public and private companies) or other Acts of Parliament (in the case of building societies and charities).
corporation income tax
/ kɔ pəre ʃ(ə)n nk m t ks/ noun a tax on profits made by incorporated companies
corporation loan / kɔ pə re ʃ(ə)n ləυn/ noun a loan issued by a local authority
corporation tax / kɔ pə re ʃ(ə)n t ks/ noun a tax on profits and capital gains made by companies, calculated before dividends are paid. Abbreviation
CT
correction /kə rekʃən/ noun 1. an act of making something correct She made some corrections to the text of the speech. 2. a change in the valuation of something that is thought to be overvalued or undervalued which results in its being more realistically valued
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‘…there were fears in October that shares were overvalued and bears were ready to enter the market. This only proved to be a small correction’ [Investors Chronicle]
correspondent / kɒr spɒndənt/ noun a journalist who writes articles for a newspaper on specialist subjects He is the Paris correspondent of the Daily Telegraph.
correspondent bank / kɒr -
spɒndənt b ŋk/ noun a bank which acts as an agent for a foreign bank
cost /kɒst/ noun 1. the amount of money which has to be paid for something What is the cost of a first class ticket to New York? Computer costs are falling each year. We cannot afford the cost of two cars. to cover costs to produce enough money in sales to pay for the costs of production The sales revenue barely covers the costs of advertising or the advertising costs. to sell at cost to sell at a price which is the same as the cost of manufacture or the wholesale cost 2. cost of borrowing
Same as borrowing costs verb 1. to have as its price How much does the machine cost? This cloth costs £10 a metre. 2. to cost a product to calculate how much money will be needed to make a product, and so work out its selling price
cost, insurance, and freight
/ kɒst n ʃυərəns ən fre t/ noun the estimate of a price, which includes the cost of the goods, the insurance, and the transport charges. Abbreviation CIF,
c.i.f.
cost accountant / kɒst ə kaυntənt/ noun an accountant who gives managers information about their business costs
cost accounting / kɒst ə kaυnt ŋ/ noun the process of preparing special accounts of manufacturing and sales costs
cost analysis / kɒst ə n ləs s/ noun the process of calculating in advance what a new product will cost
cost-benefit analysis /kɒstben f t ə n ləs s/ noun the process
of comparing the costs and benefits of various possible ways of using available resources. Also called benefit-cost
analysis
cost centre / kɒst sentə/ noun 1. a person or group whose costs can be
cost-cutting
itemised and to which costs can be allocated in accounts 2. a unit, a process, or an individual that provides a service needed by another part of an organisation and whose cost is therefore accepted as an overhead of the business
cost-cutting / kɒst k t ŋ/ adjective intended to reduce costs We have taken out the second telephone line as a cost-cutting exercise. noun the process of reducing costs As a result of cost-cutting, we have had to make three secretaries redundant.
cost-effective / kɒst fekt v/ adjective which gives good value when compared with the original cost We find advertising in the Sunday newspapers very cost-effective.
cost-effectiveness / kɒst -
fekt vnəs/, cost efficiency noun the quality of being cost-effective Can we calculate the cost-effectiveness of air freight against shipping by sea?
cost factor / kɒst f ktə/ noun the problem of cost
cost-income ratio / kɒst nk mre ʃiəυ/ noun a ratio between the costs involved in running a business and the income the business produces
costing / kɒst ŋ/ noun a calculation of the manufacturing costs, and so the selling price, of a product The costings give us a retail price of $2.95.We cannot do the costing until we have details of all the production expenditure.
costly / kɒstl / adjective costing a lot of money, or costing too much money
Defending the court case was a costly process. The mistakes were time-consuming and costly.
cost of capital / kɒst əv k p t(ə)l/ noun interest paid on the capital used in operating a business
cost of living / kɒst əv l v ŋ/ noun money which has to be paid for basic items such as food, heating or rent to allow for the cost of living in the salary adjustments
cost-of-living allowance / kɒst əvl v ŋ ə laυəns/ noun an addition to
normal salary to cover increases in the cost of living (NOTE: The US term is
COLA.)
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cost-of-living bonus / kɒst əvl v ŋ bəυnəs/ noun money paid to
meet an increase in the cost of living
cost-of-living increase / kɒst əvl v ŋ nkri s/ noun an increase in sal-
ary to allow it to keep up with the increased cost of living
cost-of-living index / kɒst əvl v ŋ ndeks/ noun a way of measur-
ing the cost of living which is shown as a percentage increase on the figure for the previous year. It is similar to the consumer price index, but includes other items such as the interest on mortgages.
cost of sales / kɒst əv se lz/ noun all the costs of a product sold, including manufacturing costs and the staff costs of the production department, before general overheads are calculated. Also called cost of goods sold
cost plus /kɒst pl s/ noun a system of calculating a price, by taking the cost of production of goods or services and adding a percentage to cover the supplier’s overheads and margin We are charging for the work on a cost plus basis.
cost price / kɒst pra s/ noun a selling price which is the same as the price, either the manufacturing price or the wholesale price, which the seller paid for the item
cost-push inflation / kɒst pυʃ n-
fle ʃ(ə)n/ noun inflation caused by increased wage demands and increased raw materials costs, which lead to higher prices, which in turn lead to further wage demands. Also called cost
inflation
costs /kɒsts/ plural noun the expenses involved in a court case The judge awarded costs to the defendant. Costs of the case will be borne by the prosecution. to pay costs to pay the expenses of a court case
council / kaυnsəl/ noun an official group chosen to run something or to advise on a problem
Council of Mortgage Lenders
/ kaυnsəl əv mɔ d$ lendəz/ noun an organisation which represents companies which provide mortgage lending to the residential market
counselling / kaυnsəl ŋ/ noun the act of giving professional advice to others on personal matters An office is
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being set up for counselling employees who have professional or social problems. Counselling helps employees get accustomed to their new environment, by offering advice and guidance.
(NOTE: The US spelling is counseling.)
count /kaυnt/ verb 1. to add figures together to make a total He counted up the sales for the six months to December. 2. to include something Did you count my trip to New York as part of my sales expenses?
counter- /kaυntə/ prefix against
counterbid / kaυntəb d/ noun a higher bid in reply to a previous bid
When I bid £20 she put in a counterbid of £25.
counter-claim / kaυntə kle m/ noun a claim for damages made in reply to a previous claim Jones claimed £25,000 in damages against Smith, and Smith entered a counter-claim of £50,000 for loss of office. The union negotiators entered a counter-claim for a reduction in work hours. verb to put in a coun- ter-claim for something Jones claimed £25,000 in damages and Smith counter-claimed £50,000 for loss of office.
counterfeit / kaυntəf t/ adjective referring to false or imitation money
Shops in the area have been asked to look out for counterfeit £20 notes. verb to make imitation money
counterfoil / kaυntəfɔ l/ noun a slip of paper kept after writing a cheque, an invoice or a receipt, as a record of the deal which has taken place
countermand / kaυntə mɑ nd/ verb to say that an order must not be carried out to countermand an order
counter-offer / kaυntər ɒfə/ noun a higher or lower offer made in reply to another offer Smith Ltd made an offer of £1m for the property, and Blacks replied with a counter-offer of £1.4m.
‘…the company set about paring costs and improving the design of its product. It came up with a price cut of 14%, but its counter-offer – for an order that was to have provided 8% of its workload next year – was too late and too expensive’ [Wall Street Journal]
counterparty / kaυntəpɑ ti/ noun the other party in a deal
counterpurchase / kaυntəp% tʃ s/ noun an international trading deal, where a company agrees to use money received on a sale to purchase goods in the country where the sale was made
countersign / kaυntəsa n/ verb to sign a document which has already been signed by someone else All our cheques have to be countersigned by the finance director. The sales director countersigns all my orders.
countertrade / kaυntətre d/ noun a trade which does not involve payment of money, but something such as a barter or a buy-back deal instead
countervailing duty / kaυntəve l ŋ
dju ti/ noun a duty imposed by a country on imported goods, where the price of the goods includes a subsidy from the government in the country of origin. Also called anti-dumping duty
counting house / kaυnt ŋ haυs/ noun a department dealing with cash
(dated)
count on / kaυnt ɒn/ verb to expect something to happen or to be given to you They are counting on getting a good response from the TV advertising.Do not count on a bank loan to start your business.
country bank / k ntri b ŋk/ noun US a bank based in a town which has no office of the Federal Reserve
country broker / k ntri brəυkə/ noun a broking firm which is not based in London (NOTE: Country brokers are
often independently run and charge lower commission than larger London firms.)
coupon / ku pɒn/ noun 1. a piece of paper used in place of money 2. a piece of paper which replaces an order form 3. a slip of paper attached to a government bond certificate which can be cashed to provide the annual interest
coupon ad / ku pɒn d/ noun an advertisement with a form attached, which you cut out and return to the advertiser with your name and address for further information
coupon security / ku pɒn s -
kjυər ti/ noun a government security which carries a coupon and pays interest, as opposed to one which pays no interest but is sold at a discount to its face value
covenant
covenant / k vənənt/ noun a legal contract verb to agree to pay a sum of money each year by contract to covenant to pay £10 per annum
cover / k və/ noun 1. the proportion of a target audience reached by advertising 2. the protection guaranteed by insurance to operate without adequate cover to operate without being protected by enough insurance to ask for additional cover to ask the insurance company to increase the amount for which you are insured 3. an amount of money large enough to guarantee that something can be paid for Do you have sufficient cover for this loan? verb 1. to provide protection by insurance against something The insurance covers fire, theft and loss of work. the damage was covered by the insurance the damage was of a kind that the insurance policy protects against or the insurance company paid enough money to enable the damage to be repaired to be fully covered to have insurance against all risks 2. to have, earn or provide enough money to pay for something
We do not make enough sales to cover the expense of running the shop. Breakeven point is reached when sales cover all costs. to cover a position to have enough money to be able to pay for a forward purchase 3. to ask for security against a loan which you are making
‘…three export credit agencies have agreed to provide cover for large projects in Nigeria’ [Business Times (Lagos)]
coverage / k v(ə)r d$/ noun US protection guaranteed by insurance Do you have coverage against fire damage?
‘…from a PR point of view it is easier to get press coverage when you are selling an industry and not a brand’ [PR Week]
covered bear / k vəd beə/ noun a bear who holds the stock which he or she is selling
covering letter / k vər ŋ letə/, covering note / k vər ŋ nəυt/ noun a
letter or note sent with documents to say why you are sending them He sent a covering letter with his curriculum vitae, explaining why he wanted the job. The job advertisement asked for a CV and a covering letter.
cover note / k və nəυt/ noun a letter from an insurance company giving de-
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credere |
tails of an insurance policy and confirming that the policy exists
CP abbreviation commercial paper
CPI abbreviation Consumer Price Index
crash /kr ʃ/ noun a financial collapse
The financial crash caused several bankruptcies. He lost all his money in the crash of 1929. verb to collapse financially The company crashed with debts of over £1 million.
crawling peg / krɔ l ŋ pe / noun a method of controlling exchange rates, allowing them to move up or down slowly
create /kri e t/ verb to make something new By acquiring small unprofitable companies he soon created a large manufacturing group. The government scheme aims at creating new jobs for young people.
‘…he insisted that the tax advantages he directed towards small businesses will help create jobs and reduce the unemployment rate’ [Toronto Star]
creation /kri e ʃ(ə)n/ noun the process of making something
creative /kri e t v/ noun someone who works in the conceptual or artistic side of a business
‘…agencies are being called on to produce great creative work and at the same time deliver value for money’ [Marketing Week]
creative accountancy /kri e t v ə-
kaυntənsi/, creative accounting
/kri e t v ə kaυnt ŋ/ noun an adaptation of a company’s figures to present a better picture than is correct, usually intended to make a company more attractive to a potential buyer, or done for some other reason which may not be strictly legal
COMMENT: Creative accounting is the term used to cover a number of accounting practices which, although legal, may be used to mislead banks, investors and shareholders about the profitability or liquidity of a business.
creative financing /kri e t vfa n ns ŋ/ noun finding methods of financing a commercial project that are different from the normal methods of raising money
credere / kre dəri/ noun del credere agent
credit |
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credit-reference agency |
credit / kred t/ noun 1. a period of time allowed before a customer has to pay a debt incurred for goods or services
to give someone six months’ credit to sell on good credit terms on credit without paying immediately to live on credit We buy everything on sixty days credit. The company exists on credit from its suppliers. 2. an amount entered in accounts to show a decrease in assets or expenses or an increase in liabilities, revenue or capital. In accounts, credits are entered in the right-hand column. to enter £100 to someone’s credit to pay in £100 to the credit of Mr Smith Compare debit account in credit an account where the credits are higher than the debits verb to put money into someone’s account, or to note money received in an account to credit an account with £100 or to credit £100 to an account
credit account / kred t ə kaυnt/ noun an account which a customer has with a shop which allows him or her to buy goods and pay for them later
credit balance / kred t b ləns/ noun a balance in an account showing that more money has been received than is owed The account has a credit balance of £100.
credit bank / kred t b ŋk/ noun a bank which lends money
credit bureau / kred t bjυərəυ/ noun same as credit-reference agency
credit card / kred t kɑ d/ noun a plastic card which allows you to borrow money and to buy goods without paying for them immediately (you pay the credit card company at a later date)
credit card holder / kred t kɑ dhəυldə/ noun 1. a person who has a
credit card 2. a plastic wallet for keeping credit cards
credit card issuer / kred t kɑ dʃuə/ noun a bank or other financial institution that issues credit cards
credit card sale / kred t kɑ d se l/ noun the act of selling where the buyer uses a credit card to pay
credit column / kred t kɒləm/ noun the right-hand column in accounts showing money received
credit control / kred t kən trəυl/ noun a check that customers pay on
time and do not owe more than their credit limit
credit entry / kred t entri/ noun an entry on the credit side of an account
credit facilities / kred t fə s l tiz/ plural noun an arrangement with a bank or supplier to have credit so as to buy goods
credit freeze / kred t fri z/ noun a period when lending by banks is restricted by the government
credit history / kred t h st(ə)ri/ noun a record of how a potential borrower has repaid his or her previous debts
credit limit / kred t l m t/ noun the largest amount of money which a customer can borrow he has exceeded his credit limit he has borrowed more money than he is allowed to
credit line / kred t la n/ noun an overdraft, the amount by which a person can draw money from an account with no funds, with the agreement of the bank to open a credit line or line of credit to make credit available to someone
credit note / kred t nəυt/ noun a note showing that money is owed to a customer The company sent the wrong order and so had to issue a credit note. Abbreviation C/N
creditor / kred tə/ noun a person or company that is owed money, i.e. a company’s creditors are its liabilities
creditor nation / kred tə ne ʃ(ə)n/ noun a country which has lent money to another. Compare debtor nation
creditors’ committee / kred təz kə m ti/ noun a group of creditors of a corporation which is being reorganised under Chapter 11, who meet officials of the corporation to discuss the progress of the reorganisation
creditors’ meeting / kred təzmi t ŋ/ noun a meeting of all the people to whom an insolvent company owes money, to decide how to obtain the money owed
credit rating / kred t re t ŋ/ noun an amount which a credit agency feels a customer will be able to repay
credit-reference agency / kred trefər(ə)ns e d$ənsi/ noun a company