EBRD Glossary of Project FinanceVolume 1

English Russian

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Compiled by Russian Translation Unit, OSG, EBRD European Bank for Reconstruction and Development, 1999One Exchange Square London EC2A 2JN UK Tel: +44 171 338 6000 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, without the written permission of the copyright holder. Such written permission must also be obtained before any part of this publication is stored in a retrieval system of any nature.

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. - 4 5 514 589 590

CONTENTS Page Key English-Russian Glossary Abbreviations and Acronyms Bond Rating Selected Bibliography 4 5 514 589 590

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. . . (v.) . () . (.) - (.) - (.) - (.) - (.) (/) - (.) - (.) - (.) - .

KEY Square brackets indicate source. Round brackets contain abbreviations or amplifications. Italicised brackets contain explanations. (v.) denotes verb. (inform.) denotes informal usage. replaces the main word or expression. Abbreviations and acronyms are explained in section Abbreviations and Acronyms.

4

AAAA-rated AAA rating Aaa rating abandon a claim (v.) abandoned assets abandonment ; ( Standard & Poors) ; ; ( Standard & Poors) ; ; aa ( Moodys Investors Service) ; ; ; ; (.) ; ; ; ; ; ; ; ; ( ) ; ; ( )

abandonment fee abandonment of a project abandonment of goods abatement ability to pay above par absent nationality absentee ballot form absentee ballotting absolute advantage

5

absolute assignment

; ; ; ; ; ; ; ; (.); ( ); ; (.) ; ; ( ) ; ; ( ) ; ( ); ; ( ) ; ; ; ; ; ; ( , , ; )

absolute covenant absolute credit limitation absolute guarantee absolute liability absolute title absolute total loss absorption capacity absorption costing absorption rate abstract of account abuse of tax havens accelerate a debt (v.)

accelerate a loan (v.)

accelerated capital allowance accelerated cost recovery system (ACRS)

accelerated depreciation acceleration clause acceleration of maturity Accept

6

accept a bill for honour (v.) accept as a pledge (v.) accept for insurance (v.) accept supra protest (v.) acceptability acceptable security acceptance acceptance act acceptance and return acceptance certificate acceptance commission acceptance credit acceptance delivery act acceptance financing acceptance house acceptance in blank acceptance liability acceptance of bill of exchange acceptance of customs security acceptance receipt acceptance register acceptance report acceptance slip acceptance supra protest accepted accounting principles accepting bank accepting house acceptor access all areas access course

; ( ) ; ; ; ; ; - ( ) ; ; - ; - ; [] ( ) ; ; ; [] ; ; ( ) ; ; ; ; ,

7

access information accession agreement accession country

( ) ; , ( ); - ; - ; ; ; ; ; ; ; ; ; ; ; ; ( . .) ; ; ; ; (.) ; ; , ; ; 8

accession negotiations accession strategy accessority accessory obligation accident at work accident prevention accident prevention officer accident waiting to happen (an ) accommodation acceptance accommodation bill accommodation endorsement accommodation note accommodation paper accompanying document accord deference (v.) account account balance account bank account book account details account dormancy account executive account (for ) account identification account of credit (on )

account of payee account payee account payee only (a/c payee) account statement

( ); ( ) ( ); ; (.); ; ; ; ; ; ; ; ; ; ; ; ( ) ( ) ; ; ; () ; ; ; ; ; ; ; ; [] ; ; ; [] ;

account with institution accountability accountants opinion accounting Accounting and Reporting Accounting and Reporting Recommendations (ARR) accounting authority accounting code accounting convention accounting cost accounting entity accounting equation accounting firm accounting information accounting law accounting manager accounting officer accounting period accounting policies accounting principles accounting procedures

9

accounting profit accounting rate

( , , ); ( ) ; [] ; ; ; ; ; ; ; ; ; ; ( ) ; ; ; ; (); ; ; ; ; ; ; ; ( ); ; () ; ( ) ; ; ; , ; ; ; ; ; ; ; ; ; ; ; ; 10

accounting standards accounting treatment accounts accounts payable (A/cs. Pay.; a/c pay) accounts receivable (A/cs. Rec.; a/c rec) accounts receivable financing accounts uncollectible accredited bank accrual accrual accounting

accrual basis of accounting accrual basis (on an ) accrual of expenditure accrual of interest accruals accruals and deferred income accruals method accrue (v.) accrue from day to day (v.) accrued benefit valuation method accrued depreciation

accrued expenses accrued income accrued interest accrued liabilities accrued revenue accruing interest accruing loan accumulated compensated absences accumulated depreciation accumulated earnings accumulated interest accumulated profit accumulated risk acid test acid test ratio (ATR) acknowledgement acknowledgement (against ~) acquirer acquis; acquis communautaire acquisition acquisition commission acquisition cost acquisition fee acquisition of origin acquittance act(s) of God act of protest act(s) of the public enemy

; ( ) ( ); ; ; ; ; ; ; ; ; ; ; ; ; (- ) ; ; ( ) ; , ; ; ; ;

11

act or omission action action of detinue

; ; ; ( ) ; ; ; , ; ; ( . .) ( . .) ; ; , ; , ; ; ; () ; ; ; ; ; , ; , ; ; ( ) ; ; ; ; ; ; ; ; ; , ; ; ; ; ( ); 12

action-oriented recommendation action plan active account active bank operation active banking operation active bond active capacity active debt active demand active file active loan active operation active share active ship active trading activity network activity plan actual budget actual cost actual demand actual example actual inventory actual overheads actual performance

actual price actual profit actual total loss (a.t.l.) actual value actuarial assumption actuarial expectation actuarial mathematics actuarial gains and losses actuarial present value of promised retirement benefits ad valorem duty ad valorem tariff ad valorem tax adaptive adaptive expectations add-on interest add-on loan addendum additional collateral additional insurance additional insured additional premium for short period cover additional security additionality address sale addressed bill adequate consideration adequate security

; ; ; ; ; ( ); (.) ; ; ; ; ; , ( ) , ( ) ; []; []; ; ( ) ; ;

13

adhocracy adjudge somebody to be a bankrupt (v.) adjust a claim (v.)

; ; - ; - ( , ) ; ; (.); (.); (.) ; ; ; ; ; ; (.); ; ; ; ; ; ; 14

adjustable peg adjustable policy adjustable-rate mortgage adjustable-rate mortgage cap

adjustable-rate preferred stock adjusted for amortisation on a straight-line basis adjusted for inflation adjusted principal value adjusted profit adjusted selling price method adjusted trial balance adjuster adjusting entry adjustment adjustment bond adjustment for inflation adjustment of cost for comparability adjustment of insurance premium adjustment of security

adjustment on conversion adjustment programme adjustment table adjustment transaction adjustment (without ) administer funds (v.) administered exchange rate administered price administered rate administered trade administration costs administration department administration fee administration of a bankrupts estate administration of a special fund administration of assets administration of justice administration overheads administrative act administrative agency administrative assistant administrative authority administrative charge administrative costs administrative expenses administrative law

, ( ) ( ) ; ; ; ; ; ; (); () ; - ; (, ) - ; ; ; ; ; ; ; ; ; ; - ; ; ; ; - - ;

15

administrative order administrator Administrator of Grant Funds admissible error (AE) admission admission of appeal admission to listing admission to official trading admit as evidence (v.) adoption of the acquis adoptive rule ADR capital raisings advance advance call advance contracting advance corporation tax (ACT)

[]; ( ) ; ; ; ; ; ; ; ; ; ( ) (.) (.) (-) ( ) (, ) ; ; ; ; ( ); ; ( , ) , ; ; ; ; ; ( ) ( ; ) / / ; 16

advance on goods advance payment advance payment bond advance payment guarantee advance tax ruling advances account advances/declines ratio advances/declines theory

adverse audit report adverse auditors report adverse balance adverse exchange difference adverse judgement adverse opinion adverse rating advertising advertising agency advertising budget advertising effect advice advise (v.) adviser advising bank advisory opinion advisory services affect or impair any right, power or remedy (v.) affected property affidavit (Afft) affiliate

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; , ; ; ; ; ; , - ; , ; ; ; ; ; ; ; ; ;

17

affiliated company affinity card

; ; ; ; ; ; ( ); ; ( , ) ; ; (.); ; () ; ; ( ) ; ; ( ); ; ; ; ; ; ; ; - c ; ; ; ; ; , 18

affirmative character affirmative project covenant affordability affordable price African Development Bank (ADB) after-market demand after-payment after-sight bill after-swap cost after tax(es) against receipt age at entry age limit ageing analysis agency agency agreement agency bank agency by estoppel agency by ratification agency commission agency contract agency fee agency line

agency line cofinancing agreement agency line framework agreement agency line implementation agreement agency of necessity agency services; agency staff agency transaction Agenda 21 [UN] agent agent bank agent fee agent for service of process agent of necessity aggregate aggregate amount aggregate data aggregate demand aggregate demand curve aggregate expenditure aggregate par value aggregate supply aggregate value aggregation of orders aggressive effort aggressive investor aggressive reduction aggressive selling agreed minimum value

; ; ( ) ; , XXI [] ; - ; ; ; ; ; ; ; ; ; ; ; () ; ; ; ; ; , ; (, ) ; ; 19

agreed settlement in court

Agreement between the Government of the Russian Federation and the European Bank for Reconstruction and ( Development regarding the ) Resident Office of the European Bank for Reconstruction and Development (Resident Office Agreement) agreement corporation [US] Agreement Establishing the European Bank for Reconstruction and Development agreement for the purchase of receivables agreement of a claim , [] ; ; ; ; ( ) ; () ; ; , ; ( ) ( ) ; ; ( ) ; (.)20

agribusiness agribusiness team agricultural lien agricultural service company (ASC) air conveyance air emission air emissions inventory air pollution air waybill airport tax alien registration requirement all-holders rule all-in cost all inclusive profit concept All or None all risks

all risks insurance all risks policy all savers certificate allay concerns (v.) allied industry allkonto allocate and distribute net profits (v.) allocate shares (v.) allocated account allocated efficiency allocated shares allocation formula allocation of costs allocation of resources allocation of risk allocative decision allocative efficiency allotment

; ; ; ; - ; ( , ) ; ; ( , ) ; ; (, ) ( ); ( ); ( ) [] ; ;

allotment of shares allotted shares allow an abatement (v.) allowance for bad debt allowance for doubtful accounts alternate alternate design alternate director alternate governor alternating priorities alternative course of action

allowance for expenses incurred

21

alternative dispute resolution (ADR) alternative order alternative project amalgamation ambient quality standard amenability American depositary receipt (ADR) American Stock Exchange (AMEX) American-style option AMEX Major Market Index AMEX Market Value Index amicable settlement amicably amortisation amortisation formula amortisation loan amortisation of deferred expenses amortisation payment amortisation schedule amortised discount on bond issue amortised premium/discount amortising schedule (of a loan) amount covered amount drawn down amount due amount invoiced

; ; ; (); () ; ; ; ; ; ; ; ; ; ; ; ; ; ; () ; ; ( ) / (); ( ) ( ); ; ; ()22

amount of balance amount of business amount of security amount outstanding amounts owed to credit institutions amplify rules (v.)

; (); ; ; ; , ; ; ; ; ; ; (.); ; ; ( ) ; ; ; ; (); () ( ) ; ; ( ) ( ) ; ; ; ; ; 23

analysis of corporate cash flows analyst analyst/programmer analytical review anchor currency ancillary product annual credit review report (ACCR) annual evaluation overview report (AEOR) annual financial report annual general meeting (AGM) annual leave Annual Meeting Annual Meeting Guide Annual Meeting Handbook annual monitoring report (AMR) annual operating permit annual percentage rate (APR) annual percentage yield (APY) annual report annual results annualisation of statement

annualised basis (on an ) annuity annuity assurance anonymous account answerback answerback code answerback drum antecedent debt anti-competition law anti-counterfeiting technology anti-greenmail provision

; ; ; ; ; ; ( ); ; ; ; ( ); ( ); ; ; ( ) , ; () ; , ; ; () ; (); () ; ; ; ; ; ; ; ; ; ; ; ;

anti-takeover laws anti-takeover tactics

anti-trust legislation anticipated average maturity anticipated completion anticipated date of commencement anticipated demand anticipated profit anticipated revenue anticipation payment anticipatory letter of credit antitrust legislation

24

Anton Pillar order

; , ; ; ( ); ; ; ( ) ; ; (); ; ; ; ; ; () ( ) ... () ; ; ; ; ; (); () ;

apex fund distribution system apex institution apex loan apex unit apparently appeal appeal brief appearance applicable legislation applicant applicant for a credit application fee (mortgage) application for compensation application for disbursement application for listing application for membership application form application of funds application of proceeds application receipt application service provider (ASP) apply (v.) apply amounts on a liability (v.) appraisal appraisal mission (mission prior to loan agreement preparation) appraisal report

25

appraisal right appraised value appraisement appreciation appreciation/depreciation of investments apprehended loss approach appropriate jurisdiction appropriation line appropriation of profits appropriation procedure approval approval deemed given approval of the accounts approval procedures applicable to subloans and equity investments approved project approximation of legislation arbiter arbitrage

( ) ; ; ; ; ; ( ) () / ; / ; ; ; ; ; (, ); ; () ; ; , ; ; ; ( ; ) ; ; ; ; ; ; ;

arbitral procedure arbitral proceedings arbitral tribunal arbitrament arbitrate disputes (v.) arbitration

26

arbitration clause arbitration management arbitration manager arbitration memorandum Arbitration Rules of UNCITRAL arbitration tribunal arbitrator area agreement arms length

( ) ( ) ; ; ; ; ; ; ; ; ( ) (.); ( ) ; (.); ; ; ; ; ; ( ); , ; , ( ); ; , ; , ; , ; (.) ; (.); ; ; (.); ; ; , ; , ; ( ); ; ; ; ;

arms length basis (on an )

arms length investor

arms length price

arms length principle arms length relationship arms length transaction

arrange a letter of credit (v.) arrange payment (v.)

27

arranged total loss

( ) ; ; ; ; ; ; ; ; ; ( ); )

arrangement fee arranger of a loan arrears arrears administration arrears (debt in arrears (in ) arrears (payable in)

; ; ; []; [] ; ; ; ( , ); ( , ) (, ); ; ( ) () - () [ ] ; ; ; ;

Articles of Agreement [IBRD] articles of association articles of incorporation articles of partnership as is as Principal as they fall due ascending ascertain and announce the sense of the meeting (v.) ascertained goods Asian Development Bank (ADB) Asian Finance and Investment Corporation (AFIC) [ADB] asked price asking price

28

assembly of contributors assented bonds assert powers (v.) assert remedies (v.) assert rights (v.) assess the amount of tax (v.) assessable income assessed taxes assessment of a claim assessment of duties assessments asset and liability management asset-asides asset-backed arrangements

, / [] ; ; , ; ; ; ; (; ) ; ; ; (); ; ; ; ; , ; ; ; ; ( , ) ; ; ; ( , ) ; ; ; ; ; ; ; ; ; ;

asset-backed bond asset-backed security issue asset category asset depreciation range asset disposal asset disposition [US] asset diversion asset divestiture asset identification number asset management

29

asset manager asset mix asset monetisation asset number asset pricing asset recognition asset redeployment asset register asset registry asset renewal asset renewal allowance asset replacement asset sales asset salvage value asset-stripped company asset stripping

; ; ; ; ; ; ; ( ) ; ; ; ; ; ; ; ; ; , ; ; ; ; ; ; ; ; ; ( ); ( ) ; ; ; ; ; ; ; ; ; ; ; ; ;

asset switching asset tracing asset valuation asset value assets assign assign debts (v.)

30

assign debts as security (v.)

; ; ; ; ; ; ; ; ; ; ; ; ; ; (); ; ; ; ; ; ; ; ; ; ; ; ; ; ( ) ; ; ; ; ; ; ; , ; ; ; , () ; ; ; ; - -

assigned duties assigned funds assigned receivables assignee assignment assignment by way of security

assignment credit assignment deed assignment in blank assignment of accounts assignment of contract assignment of receivables as security assignment of right assignment of security

assignor assimilation assist restructuring and privatisation programmes (v.) assistant accounting officer associate associate banker associate director

31

associated company assorted goods assumability [US] assume office (v.) assumption assumption fee [US] assurance assurance certificate assured assured cashflow at a discount at best at cost at law at market at par at sight at stated maturity or upon prematuring at the cost of ... at the money ATM bank fee

; ; ; ; [] ; ; ; ; [] [] ( ) ; ; (.) ; ; ; ; ; ; ; ; .... ; ( , , , ) .... (); ; ; ( ); ; ; ( )

at the cost of ... attached document attachment attachment of cover

32

attachment of insurance

; , ; ; ; (); ( ) ; ; ; ; ( ) ; ; ; ; ; ; ; , ; ; ; ; ; ; ; ; ; ; ; , , ; ; , ; ; ( ) ;

attachment of risk attendant document attended time attributable profit auction charge auction fee auction fixing audit audit and reconciliation audit certificate audit committee audit log audit opinion

audit period audit qualification audit report

audit trail audited accounts audited statements auditee auditing facility auditing in an electronic data processing environment

33

auditing principles auditing standards

; ; ; ; ; ; ; ( ) ; ; ; ; ; , ; ; ; ; (); ; ; ; ; ; (); ; []; ; ( , ) ; ( , ); ( ) ; ; ; ; ; ; ( ) ; ;

auditor auditors auditors report

Aussie bond austerity measure authentic evidence authentic text authentic (texts are equally ~) authenticated copy authenticated signature authentication authorisation authorisation for payment authorised access authorised act authorised allocation authorised by law authorised capital authorised capital stock

authorised dealer authorised drawdown period

34

authorised duration guidelines authorised fluctuation margin authorised payment order

; ; ; ; ; ; ; , ; ; ; ; ( ) ; , ; ; , ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( , ) ; ()35

authorised person authorised representative authorised share capital

authorised shares authorised signatory authorised signatures list authorised stock authorised to bind the principal authorised user authoritative interpretation authority authority to contract authority to pay (A/P) authority to purchase (A/P) authority to sign automated cashpoint (cp) automated teller machine (ATM) automated troubleshooting system automatic acceleration automatic call back automatic payment deduction automatic perfection automatic routing

automatic transfer

; ( - ); ( ) ; ; (), ; ; ; ; ; (, ) ; ( ); ( ); ( ) (.) ; ; ; ( , ) ; ; ( ) ( : , , , ) ; (.); ; ; 36

automatic transfer service account (ATS account) autonomous investment autonomous tariff autonomous variable autoregulation auxiliary unit avail availability availability date availability period available amount available assets available domestic and import capacity available funds available inventories avails aval average average adjuster average adjustment average after-swap cost average allotment rate [UK] average bond average certificate

average clause average commissioner average cost average down the cost of borrowing (v.) average efficiency average fixed cost(s) (AFC) average propensity to consume (APC) average propensity to save average statement average stater average taker average variable cost(s) (AVC) avoid a contract (v.) avoid double taxation (v.) aviso award award a contract (v.) award damages (v.)

(.) (.) ; ; ; ; (.) ; (.) ; ; ; ; ; ; ( ); ( , )

37

Bback-end load back financing back interest back letter back office back order back pay back taxes back-to-back back-to-back letter of credit back-to-back loan , ; ; ; ; , ( ) ; ; ; ; , , ; , , ( ; ) ; ( ) ; , , ; , ; ; ; 38

back-to-back trades back-to-office report backdated bill of lading backdating backed bill

background information background level background pollution level backhander (inform.) backloading of financing backlog of investment backout provision backstop guarantee backtracking on reforms backup line backup system backwardation bad assets bad business practice

; ; ; ( . .) (.) (.); (.) ( ) ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; , ; ; ; ; ; ; ; ; ; ; (, ) ; ; ; ; ; ; ; 39

bad cheque bad cheque writer bad debt bad debt provisioning bad debt recovery bad debts insurance bad faith bad in law bad loan

bad practice bad title baggage examination bailee bailee clause bailiff bailment for hire bailout balance an account (v.) balance brought forward balance brought forward 1 January balance carried forward balance certificate balance enquiry balance of account balance of claims and liabilities balance of international payments balance of payments balance of payments deficit balance of payments surplus balance of trade balance sheet (B/S) balance sheet analysis balance sheet date balance sheet equation balance sheet identity balance sheet item balance sheet ratio

; ; ( . .) ; ; ; ; ; ; ( ); ( ); ( ); ( ) , 1 ; , 1 ( ); ( ); () ; (.); ; ; ; ; ; ; () ; ()

40

balance sheet total balance standing to the credit of an account balance standing to the debit of an account balanced budget balanced fund

; , ,

balances of deposits and current ; accounts ; balances with central banks balloon maturity , ; ( ), ; ; ( ) ; , ( 1991 ) , ( 1991 ) ; ; ; ; ; ; (.) ; ; 41

balloon payment ballot Baltic Investment Programme Baltic Investment Special Fund Baltic Marine Environment Protection Commission Baltic Sea Environment Programme Baltic Sea Joint Comprehensive Programme Baltic Special Funds Baltic Technical Assistance Special Fund bancassurance Bangkok Agreement Bangkok Facility bank accommodation bank account bank balance bank bill

bank book bank cash ratio bank charge bank charges bank cheque bank clearing bank commission bank currency position bank deposit inflation bank discounting bank draft bank exposure Bank for International Settlements (BIS)

; ; ; ( ) ; ; ; ; ; ( ); () ( , , , ) ; () ; ; -; - ; ; ; ; ; ( ) ; ; ()42

bank fraud bank guarantee bank holiday bank interest rate bank investments bank lending bank loan bank money bank of issue bank operation bank operations bank reference bank reserves bank review unit (BRU)

bank run bank secrecy law bank statement

; ( ); ; (.); ; ; ; ; ; ; ( ); , ( ) ; ; () () () ; ; , ; ( ) ; ( ); ; ; ; , ; ; , ; ; ; ; , ( ) (, . .)43

bank supervision bank supervisor

bank tariff bank tariff for personal customers bank teller bank-to-bank loan bank transfer bank transfer request bank trust bank wire bankability study bankable feasibility study bankable paper bankable project

bankassurance banker bankers acceptance bankers bank bankers blanket bond

bankers bond bankers cheque bankers draft bankers duty of secrecy bankers guarantee bankers reference banking banking adviser banking book banking confidentiality banking customs banking day

( ); ; ; ; ( ) ; ; ; ; ; ; ; ; ; ; ; ( , ) ; ; ; ; ; ; ; ; ; ; ; ; ; ( ) ; ( ); ; ; 44

banking details banking facility banking group banking industry banking institution banking licence banking operation banking operations banking oversight banking reform banking regulations

banking supervision banking supervisor

; ( ) ; ; ; ; ; (-); ; ; ; ; ; , ( ) ; ; ; ; ; ; ; ; ; ; ; -; ; ; -; -; (); () , , ; -

banking syndicate banking system banking union bankruptcy administration

bankruptcy commissioner

bankruptcy creditor bankruptcy laws bankruptcy notice bankruptcy petition

bankruptcy proceedings bankruptcy trigger procedure bankrupts estate bankwide training programme bar chart bar-code bar-type progress chart barbell portfolio bare board (B/B); bare boat (B/B)

45

barren money barter deal barter terms of trade barter trade base case base currency base grade base lending rate base period base rate base stock method base year baseline conditions baseline scenario baseline study basic banking basic data basic documents basic earnings per share basic infrastructure

; ; ; ; ; ( ) ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; - ; - (0,01%)

basic public switched telephony basic rate basic rate of charge basic stock basis point (bp) basis risk basket of currencies basket unit of account

46

Basle accord capital ratio [BIS] Basle capital accord [BIS] Basle Committee on Banking Supervision [BIS] Basle Concordat [BIS] batch production be on-stream (v.) bear bear bond bear hug

; [] [] ( 10, 1975 . 1983 .) [] ; () ; ; ; ( ) , (.) , ( ) ( ; , ) ; ( ) ; ; ( ) ( , ) ; , ;

bear market bearer (to ) bearer bond bearer cheque bearer clause bearer debt bearer instrument bearer passbook bearer security bearer share bearish dealer before hours bellwether securities below-line balance account below par belt-and-braces budget

47

Beltway bandit [US] benchmark

, [] ; ; ; ; ; ; ; ; ; ; ; ; ; -; ; ; ; ; ; ; , ( ) ; ; ; ; ; ; ; ; ; ; ; ; ; , ; -; ; ; ;

benchmark financing benchmark investment benchmark method benchmark portfolio

benchmark price benchmark study benchmarking

beneficial association beneficial borrower beneficial owner

beneficial ownership beneficial shareholder beneficiary benefit (for its own ) benefits foregone benefits plan

Berne Union (International Union ( of Credit and Investment ) Insurers)

48

bespoke banking product best available price best effort underwriting

; , ; ( ); ; - ; ; ; ; ( ) - ( ) ; ; ; ; ; ; ; , ; ( ) ; ; , ( ) ; ; , ( ) ; ; ; ; ; ; ; ; ; ; ;

best efforts

best efforts clause best evidence best industry practice best management practice best practice biased estimate bid bid bond bid opening date bid price bid validity bid wanted bidder bidding and selection process bidding deadline

bidding documents bidding period

49

bidding rules bilateral clearing bilateral trade bill (v.) bill broker bill counterfoil bill discounting bill enforcement bill for collection (B/C) bill for foreclosure bill guarantee bill of exchange bill of lading (b/l)

; ; ; ; ; , -; ( -) ( ); ( ) ; ;

Bill of Lading Electronic Registry ; Organization (BOLERO) bill of lading issued to order bill of quantities bill of sale bill under protest billing system Bills of Exchange Act [UK] bills payable (B/p) bills receivable (B/r) binding force binding obligation binding receipt binding reciprocally (be ) (v.) biometric technique []; ; ; (); ; ; ; ( ); (); ; , ( ) ( ); 50

biological diversity (biodiversity) ;

biosphere reserve black information Black Sea Trade and Development Bank (BSTDB) black spot blank bill blank check preferred stock blank credit blank endorsement blanket bond blanket inventory lien blanket policy blanket rate blended finance blended interest rate blind brokering blind carbon copies (bcc)

(.) ( ); ( ) () [, ] ; (.) - , ( ) [] ; , ; ( ) - (.) ; ; (-) ( ) , ( ); ( , ; ) - ; ; ; ; ; ; ; ; ; (); ( ) ; ;

blind trust block movement block of securities block of shares block trading blocked account

blocked balance blocked currency trading

51

blocked funds blocked period blocked security

; ; (, . .) ( ), ; ( ) , ; , ( ) ( ); ; (.) ; ; ; ; (.) ; ; (.) , ( ); - ( ) ; ; (); () ( ) ; () (, ) , ; , ; , ; ; ( ) ; ; ( )

blocking minority ownership blocking minority shareholding blue-chip borrower blue-chip company blue-chip issues

blue-chip security blue-sky law blue-skying Bluetooth; Bluetooth chip; Bluetooth radio chip board board approval board approval fee board approved operation board of directors (BOD) board of governors board package (BP)

board secretariat

52

boardroom boardroom pay body corporate body of laws boilerplate boilerplate clause boilerplate finance bona fide holder for value

; ; (.); ; (); ; ; ; ; ; ; ; ( ) ; , ; ; , , ; , ; ; ; ; ; ; ( ) ; ; ; , ; ; ;

bona fide purchaser bona fide purchaser for value and without notice

bona fide selling price bond bond and preferred stock fund bond anticipation note (BAN) bond broker bond certificate bond flotation bond fund bond holder bond issue

53

bond market bond member bond note bond offering bond placement bond price bond quotation bond rating bond resolution bond retirement bond switch bond trading bond yield bonded goods (B/G)

; ; ; ; ( ) ; ; ( ) ( ) ; ; ; ; ; , ; , ; ; ; ; ; ; ( ) , , ( ) ; ; ;

bonded warehouse (B.W.) bonding company bonification share bonus bonus in kind bonus issue bonus scheme bonus share book account book commitment book debt book-entry bond

54

book-entry security book-entry settlement system book loss book price book profit book value bookbuilding

; ; ; (); (); ; ; ; ; ; ; ; ; (.) ( ); ( ); ( ) ; - ( ) ; ; ; ; ; ; ; ; (); () ; ( ) ; ; , ( )

bookkeeping bookkeeping entry bookrunner

border price borrowed capital borrowed funds borrowed money borrower borrower of record

borrowers authorised representative borrowers status borrowing authority borrowing base borrowing conditions

55

borrowing costs borrowing entity borrowing limit borrowing line borrowing plan

; ; ; (.); () ; - ; ; ; ( ) ; ; ; ; ; ; ( - ) ; ; ; ; ; ; ; ; ; ; ; (.); ; -; ( ) ( - , ); - ( ; ) ; ; ( ) ( ) ( - ); ( , ); ; (.)

borrowing policy borrowing requirement borrowings BOT project (build-operatetransfer project) BOT terms bottom line bottom price bottom-up planning approach bought book bought deal

bought issue

bought note bounced cheque

bracket

56

bracket tariff Brady bond branch banking branch office brand awareness brand name brand recognition branded breach of contract breach of trust

() ; ; () ; ; ; ; ; () ; ; ; () ; ; ; ; ; / ; ; ; , ( ); ( ) ; -; , ; ; ; ; ; ;

breadth-of-the-market theory break bulk break-even break-even point break-even yield break of syndicate break-up fee break-up of an enterprise breaking-in period bridge bank bridge financing bridge loan bridging finance

57

bridging loan briefing note bring a suit (v.) bring an action (v.) bringing forward broad interpretation broad money broken date broken period broken-period interest broker loan rate brokerage brokerage firm brokerage house broking brought back brought down (b/d) brought forward (B/F) brownfield site

; ; ; ; ; ; ( ) ; ; ; ; ; ; ; ; (.) ; ; ; ( : , ) ; ( , . .) ; ; ; ; ; ; , ; , ; , ( ) ; ; (.); (.) ; ; ; ; ; ; ; ; ( -); (.); ; 58

bucket budget budget (v.) budget appropriation budget approval

budget balance budget classification budget constraint budget controls budget cycle budget estimate budget financing budget headroom budget line budget management budget manual budget officer

; ; ; ; ; ; ; () ; ; ; ; ; ; ; ; ; , ; ( ) ; ; ; , ; ; ; ; ( , ) ; ( ); ; ; (, )

budget outlay

budget overrun budget review budget surplus budgetary allocation budgetary allotment control procedures budgetary authorisation budgetary funding budgetary unit account (BUA) budgeted cost budgeted revenue budgeted volume

59

budgeting

; ; ; ; ; ; ; ; - - () ( ) - - () - - - () ( ) ; ; ; , (.) , , ( , ) (100%) ( ) ; ; ; ; ( ) ; ;

budgeting procedure buffer stock build-operate-transfer (BOT) build-own-operate (BOO) build-own-operate-transfer (BOOT) building block building lease building project building society [UK] bulk cargo bulk purchase bulk storage bull bull market bulldog bonds; bulldogs bullet issue bullet loan bullet repayment bullet repayment at maturity bullish dealer bunching of maturities bunching of payments bunching of projects bundling of projects

60

burden of contract burden of proof burden sharing business

; ; ; ; ; ; ; ; ; ; ; (); ; - - ( ); - - ; ; ; ; ; ; ; ; ; ; ; (.) ; ; ; ; ; ; ; ; ; ; ; [] ; ; ; ; ;

business activity business advisory centre business advisory service business advisory services business analysis business analyst business behaviour business bunching business card business case business climate

business combination Business Corporations Act [US] business correspondence business credit business cycle business day

61

business development

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; () ; - (.) ; ; ; ; ; - () ; ; ; ; () ; () ; ; ;

business development unit (BDU) business director business entity business environment

business ethics business ethics standard business failure business file business format franchising business hours business incubator business information

business information centre (BIC) business integrity business interruption insurance business judgement rule business law business mix business name business opportunity business person

62

business plan (BP) business practice

; - (.); ; ; ; ; ;

business process re-engineering ; (BPR) ; ; ; business processes business registration fee business secrecy business secrecy law business segment business stamp business standard business start-up business start-up expenditure business support centre business terms business training centre (BTC) business transaction business trends business trip business trust business user bust-up buy-back agreement buy-back arrangement ; ; ( ) ; ; ; ( ) ; ; ; ; ; ; ; ; ; ( ) - (); - () ; ; - ; ; ; ; ; ; ; ; ; ( );

63

buy-back price buy-in buy into a company (v.) buy on credit (v.) buy programme buyer buyers option buyers market buying out a partner buying price buying rate by default by-effect by instalments by-laws by operation of law by-product by tender

; ; ; ; ; , ; , ; ; ; ; (, - ); ; ; ; (, ); ; ; (.)

64

Ccabinet trading cable transfer CAD Consultant Cadbury Code [UK] calculation calculation of transportation charges call call agreement call centre ; [] ; ( ); () ; ; (, , . .)

call centre-based phone banking , service call for bids call for payment (v.) call holder call in a loan (v.) call loan ; ; ; ; ; ; ; ; 65

call money call money rate call-off notice call option call price call rate call transaction call writer callability callable bond callable capital callable preferred share callable share callback called but not yet due

; ; ; ; ( ) ; ; (; ) ; ; () ; , ; , ( ) ; ; ; , , ; ( ) , ( ); , () ; ; ; ( , , , , ) () []; - (, , ); ; ; () ; ;

called-up capital caller display [UK] caller ID scanner [US] calling in a loan CAMEL (capital, asset quality, management, earnings, liquidity) Canadian Export Development Corporation (EDC) (inform.) cancel (v.) cancellation

66

cancellation fee cancellation of securities

( , ) ( ); ( ); ( ); ( ) ( ); ; ( ) ( ) ; ( ) ( ) (.) ; ; ; ( ) ; ( ); ( ) ; ( ); ; ; ( ); () ; ( ) ; , ()67

cancellation penalty cancelled commitment cancelled share cap cap agreement cap and floor cap fee cap rate capable of capacity capacity addition capacity to borrow capacity to contract capacity utilisation threshold capital account

capital account transaction capital adequacy

capital adequacy ratio capital appreciation fund capital-asset ratio

capital assets capital budget capital capacity capital consumption capital consumption allowance capital contribution capital cost capital costs capital deepening capital employed capital expenditure

; ; ; ; ; ; ; ; ; ; ; ( , ) ; ; ; ; ; ; ; ; ; ; ( ) ; ; ; 68

capital export capital flight capital flotation costs capital formation capital funding principles capital gains capital gains tax (CGT) capital gearing

capital goods capital increase capital inflow capital intensity capital intensive sector

capital investment capital investment loan capital lease

; ; ; ; ( ); ; ; ( ); ; ; ( ) ; ; ; ; ; ; ; ( ) ; () ; ; ( ) ; () 69

capital leveraging capital levy capital loan capital loss capital market capital mortgage capital net worth capital outflow capital outlay capital-output ratio capital raising capital redemption reserve capital reserve capital resources capital retirement capital stock capital stock in treasury capital stock output capital structure capital subscription capital tax capital transfer tax (CTT) capital value capital widening

capitalisation

; ; , ; ( ) ( ); ( ) ; ; ( ); ; ; ; ; ; ( ); , ; , ; , - () ; (, , ) ; ; , ; ; ; 70

capitalisation issue capitalisation of interest capitalisation of leases capitalise (v.) capitalised earnings value capitalised expenditure capitalised expense capitalised income value capitalised value capitalised yield value capped floating rate loan capped floating rate note (capped FRN) capping caps and collars on an outright basis captive company

captive market captive product car tax card issuer care career plateau careful

cargo insurance cargo inward cargo outward cargo payment cargo payment date caring for the environment carload shipment Carriage and Insurance Paid To (CIP) (... named place of destination)

; ; ; ( ...) ( )

Carriage Paid To (CPT) (... named ... ( ) place of destination) carried interest carried interest agreement ; , ; () ; ; ; ; ; ( ) ; , (.); ; , (.); , ; ; ; ; ; ;

carryback carryforward carrying amount carrying cost carrying gain carrying value carryover stocks carryover transaction carve-out

carving-out case-by-case basis (on a ) case law

71

case study cash

; ; ; ; (.); (.) ; ; ; ; ; ; (.); ; ; ; , ; ; ; ; () ; ; ; ( ) , ; ; (/) ( ) ; ; ; ,

cash accumulation cash advance cash and balances with central banks cash and cash equivalents

cash assets cash auction cash available for debt service (CADS) cash balance cash basis accounting cash basis reporting cash before delivery (c.b.d.) cash bid for assets cash call cash collateral cash collateral account cash cow cash crop cash cycle cash deal cash dispenser cash dividend

72

cash down cash element cash equivalents

; ; ; , ; ; ; ; , ; ( ) ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( ); ; ; (.) ; ; ; ; ; ;

cash flow

cash flow forecast cash flow risk cash flow statement cash flows from financing activities cash generation cash generation covenant cash holdings cash in advance cash in hand cash-in value cash income cash inflow cash infusion cash machine cash management cash management system cash market cash method

73

cash-on-delivery (COD; cod) cash-on-delivery consignment (cod consignment) cash on reserve cash outflow cash outflow from investing activities cash outlay cash price cash privatisation cash processing centre cash provided by financing activities cash ratio cash receipts cash register cash reserve cash security cash settlement cash surrender value (CSV) cash transaction cash turnover cash value cash voucher cash with order cashback

; ; ; ; ; ; ; , - ; ; ; ; , ; ; ; ; ; (); (; ); ( ; ) (); , ; ; ( ) ; 74

cashiers cashiers cheque cashiers clerk cashless transaction

cashpoint (cp) cashpoint charge

; ( ); ; ; ( , , , ) ( ) ; ( ) [] ; ; ; ; ; ; ; ; , ; ; , ; (: !) (: !) ; ; ; ; ; ; ; ; - , ; - ,

cashpoint transaction casting vote casual help catalytic impact catchment area caution money caveat caveat emptor caveat venditor ceiling amount ceiling price central bank central banker Central European Initiative (CEI) central funding central mortgage bond institution central rate

centrally planned economy (CPE) ; ; Centre for Cooperation with the European Economies in Transition [OECD] certificate of accounts certificate of acknowledgement [] 75

certificate of assurance certificate of authenticity certificate of competence certificate of deposit (CD) certificate of full responsibility certificate of guarantee certificate of hygiene certificate of incorporation certificate of incumbency and authority certificate of indebtedness certificate of insurance certificate of origin (C/O) certificate of registration certificate of stock certification

; ; ( ) (.) ( ); ; ; (, ) ; ; ; ; ; ; ; (); () ;

certified cheque

certified public accountant (CPA) ; ; - certified security certifying officer CFR (cost and freight) (... named port of destination) chairman of the board of governors challenge (v.) change change order changeomat ; ... ( ) (, ); ( . .) ; ; ; ; ( . .) ; 76

changes in operation changing pool of assets changing pool of debt channels of distribution character loan charge charge (v.)charge against general reserves (v.) charge an account (v.)

() - ; ; ; ; ; ; ; ; ; ( ); (); ; () ; ( ; ) , ; , ; , ; , ; ; ... ; ; ( ) ; ; ; () ; ; ( ) ; ; 77

charge as security for debt (v.) charge card charge giver charge holder charge manager charge-off charge over things or rights charge terminates charge to net income (v.) chargeable to ... chargeback charged property charged traffic chargeholder charges register charges registry charging charging instrument charging lien

charges for public utility services

chargor charitable contribution chart analysis chart of accounts charter charter party chartered chartered accountant charting chase chattels cheap credit cheap loan check against delivery check card check date check list check time checkable deposit checking account checks and balances cheque book cheque hold cheque kiting

; ; ; () ( ); ; ; () ( ) ; ; ( ); ; ( ) ; ; ; ; ; ( ) ( ); ; ; ( , ) ( ) ; ; ; ; ; ; ; [] ( , ) , ;

78

cheque safekeeping Chernobyl Shelter Fund (CSF) cherry-picking chief counsel

( ; ) () ( ) (); ; ( ); () ( ) ; ( ) (); (); (.) () ; ; ( ); () ; ( ); , ( ) ( ; , ) ; ( ) ; ; ; ; ( ); ( ) (, ...) ( )

chief economist chief economists office (CE; OCE; CEO) chief executive officer (CEO) chief financial officer (CFO) chief legal officer chief of staff chief operating officer (COO) child benefit Chinese Wall

chip card

choice of company domicile

choice of law churning

CIF (cost, insurance and freight) (... named port of destination) CIF Landed

79

CIP (carriage and insurance paid ( ...) ( to) (... named place of ) destination) civil action civil consequences of funds transfers civil engineering civil liability civil procedure civil suit civil works civil wrong claim claim debtor claim for damages claim handling claim in return claimant claimed damage claimed goods claimholder claims adjustment claims on external assets claims settlement clash of interests class action class charge class defendant class director class of assets - - ; ; ; ; (.); ; ; ; (.); (.); ; (.) ; (.) ; (.); ; ; (.) , ( )

claims and rights are subrogated

80

class of insurance class of investors class of option class of shares class plaintiff class price class suit class vote classic security structure classified board classified data classified loan classified portfolio classified stock clean acceptance clean audit opinion clean bill of lading (clean B/L) clean floating clean letter of credit clean market condition clean opinion clean policy clean red clause clean remittance clean title

( ) ( ) ; , ; ; ; , ; ; ; ; ( , ) ; ( ) ( ) ( ) ; (, ) ( ) ; ; ,

81

clean-up of past environmental damage cleaner production cleaner technology clear diverted goods clear profit clearance clearance account clearance inward clearance outward cleared balance cleared funds clearing clearing account clearing agreement clearing house clearing house funds clerical error clerical mistake client base client pipeline

, , ; ; ; ; () ; ; , ; ; ; ; ; ; ; ; ; (.) ;

clients sensitivity to interest rate movements clip-on unit Clipper chip (Escrowed Encryption Standard) close a position (v.) close margin close-out , ; (); ( ); () ( ); ( )

82

close-out netting

( , , , ); ; ; ; ; ; ; ; ( ) ; ; , ; ; ( ) ; ; ; ( ); ( ); , ; ; ; ; ; [] ; ( ); ; ; ; ; , ; ; ;

closed account closed bid closed economy closed-end credit closed-end fund closed-end investment company closed-end lease closed position closed tender closely held corporation (CHC)

closing closing balance closing costs closing date closing debt closing entry closing exchange rate closing inventory closing out

83

closing price closing rate closing stock closing the books cloud on title club account club card

; ; ( ); ; ; ; , ; ; ( ); ( , ) ; ; ; , ; ( ); ( ); ( ) , ( ) ( ); ( ); ( ) ,

clustered access co-arranger of a loan co-contractor co-financier co-financing co-financing facility co-financing loan agreement co-insurance co-insured co-insurer co-lead manager

co-loan co-maker co-manager co-owner coal-fired boiler coastal shipping

84

cock date cod consignment (cash-ondelivery consignment) code code of conduct coercive measure coherent region coherent project coinage monopoly; coinage prerogative coins cold call cold comfort letter collar

( ); ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( ) ( ); ; ; ; ; ; , , ; , , ; -, ,

collared floating rate loan collateral collateral acceptance collateral account collateral bill collateral bond collateral loan collateral rate

collateral mortgage bond

85

collateral note collateral security collateral security for a debt collateral security margin collateral trust bond collateral value

, ; c ; ; (, ) ; ; ; , ; , ( ); , ; ; ( ) ; ; ; ; ; ; ; ; ; ; ( ); ; ; ; ; ; ; ; ; ;

collateral warranty collaterised mortgage obligation (CMO) collect an instrument (v.) collect call [US] collect without recourse (v.) collectability collectable collected premium collecting charge collecting commission collecting fee collecting overdue accounts collection

collection charge collection letter collection of debts collection on delivery (COD; cod)

86

collection order collection period collection rate collection reminder collection technique collective custody collective insurance collective transport colluder collusive bidding colour colourable transaction combination of accounts combined market interest rate come on-stream (v.) comfort letter

; ; ; ; ; ; ; ; ; ( ) ; ; ; ( ) ; ; ; ( ) ; ( ); -; ; - () - ; ; ; ( ) ; ; ; 87

command economy command over resources commencement of services commercial arbitration commercial bank commercial banking commercial certainty commercial co-financing unit commercial correspondence commercial credit commercial data

commercial domicile commercial entity commercial farm commercial farming commercial integrity commercial invoice commercial law commercial letter of credit (CLC) commercial life commercial loan commercial opportunities commercial paper (CP) commercial paper programme commercial quantity commercial register commercial sample commercial secret commercial user commercially viable project commission commission a project (v.) commission agent commission banking operations commission business commission expenditure

; ; ; ; ( ) ; ; ; ; ; - ; () ; ; ; ( ; ); [] ; (, ) ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( )

88

commission fee commission house brokers commission in bankruptcy commission income commission merchant commissioning commissions commitment commitment charge commitment commission commitment fee commitment in each others success commitment letter commitment memorandum commitment period commitment rate commitment to a country commitment to calls committed assets committed but not yet disbursed committed loan committed shareholder

; ; ; ; ; ; ; ( ) ; ; -; ; ; ; ; ; ; ; ( ); ( ) ; ( ); ( ) ; ( ); (, ) ; - ( ) ( ); ; ( ) ; ; ( ) ; ; ; ; ; , (); , () , ; ;

89

Commodities Futures Trading Commission commodity agreement commodity classification commodity device commodity exchange commodity fund commodity money commodity paper common account reinsurance common area common law common price common share common stock Commonwealth of Independent States (CIS) communication(s) skills communications department Community [EU] community Community currencies community tax commutation of annual leave Companies Act company failure rate Company Law company law

[] [] ( ) , ( ..) ; ; ; ; ; () ; ; ( ); ( ); ; ; ; [] ( ) [] ( ); , ; ;

90

company limited by shares

; ; (); ;

company profile companys officer comparable price comparative advantage

comparative financial statements ; compatibility principle compensated absence compensating balance compensating differential compensation compensation agreement compensation analyst compensation & benefits compensation director compensation for release from obligations compensation for termination of contract compensation lump sum compensation package compensation policy compensation rate Compensatory and Contingency Financing Facility [IMF] ( - ) ; ; ; () ( , , ) ( ) ; ( , ) ; ; ; ; []

Compensatory Financing Facility [] [IMF] compensatory leave compensatory time off competence ; ;

91

competence of management competence of the court competent jurisdiction competent service competing claimants competing claims competing requirements competitive competitive bid competitive bidding competitive business environment competitive devaluation competitive edge competitive environment competitive equilibrium competitive market competitive pay package competitive selection competitive tendering competitive trader competitive wage level competitively complainant party complaint complaints procedure complementarity

; ; ; ; ; ; ( ); ; ; ; ; ; ; ; ; ; () ; ; ; ; ; , ( ) ; ; ; ; ; ; ; ; []; ( )

92

complementary goods complementary imports complements completed by signature completed contract method completed operation completely knocked down (ckd.) completion guarantee completion report completion risk compliance audit compliance department compliance examination compliance officer compliant offer

; ; ; ; ; ( ) ; ; ; ; ; ; ; []; [] ; ( ) ( ); ( , ) ( ) ; ; ; , ; ; ; ; ; ; ; ; ; ; ; ( ) ( ) 93

component industries component parts components composite demand composite insurance company composite variable composition arrangement

composition to creditors composition with creditors compound (v.) compound entry compound instrument compound interest compound rate compound tariff compounded annual growth rate (CAGR) compounded (be ) (v.) compounded (be ) every ... (named period) (v.) comprehensive income comprehensive insurance

; (.) ; ; ; ; ... ( ) ( )

comprehensive risk management framework compromise on quality (v.) compromised total loss compulsory insurance compulsory intervention margin compulsory levies compulsory savings compulsory third-party insurance computation computer abuse computer-aided design consultant (CAD Consultant) computer-linked equipment computer telephony integration equipment (CTI equipment) computerised accounting and financial management system ( - ) ( ) ; ; ; -; ; , , ( ) 94

computerised billing system computerised interbank clearing system computerised payroll system

concealment of foreign exchange ; assets ; conceding authority concentration ratio concept clearance , ; []

concept clearance memorandum []; (CCM) ; concession concession agreement concession fee concession operator concessionaire concessional assistance concessional financing concessional loan concessional terms concessionary financing concessionary interest rate concessionary loan concessions law conciliation conclusive determination condensed financial statements condition attaching to ... condition concurrent condition in deed condition of effectiveness ; ; ; ; ; ; ; ; ; ; ; ; ; , ... , ; 95

condition precedent condition precedent to effectiveness condition subsequent

; ; () ; ; , ; ; ;

condition to the availability of the () tranche A commitment conditional contract conditional debt conditional reimbursement commitment conditionality condominium conduct of business and operations conference call Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) Conference on Security and Cooperation in Europe (CSCE) Conference on the Economics of Transition confidence level confidence market confidential information confidentiality agreement confidentiality letter confidentiality of commercial transactions confidentiality undertaking ; ; ; () () ; ; ; (, ) ; , ; ; ( ); , ; ; 96

confirmation of employment confirmation value

confirmed letter of credit confirming bank confiscation conflict of interest conflict of laws conflict rule conflicting claims conformed copy conforming bid

; , ; ; ; (.) ; ( ); ( ); ; , ; , ; ; ; ; ; , , ; ; ; ; ; ; ; ; 97

conforming document confusion of titles congested market congestion charge conglomerate conglomerate merger conjunctive obligation connected borrowers connected company connected lending connecting factor connection fee connection mode consensual dispute resolution consequence in law

consequential damages consequential loss conservation and preservation of assets conservative estimate conservative gearing ratio conservative leverage ratio conservative monetary policy conservative option conservatory measure consideration consideration (in ) consigned goods consignee consignment (cons) consignment goods consignment note (cons note) consignment sale consignment terms consignor consistent quality consistently applied principles consolidated accounts consolidated balance sheet consolidated budget consolidated debt consolidated financial report consolidated financial statements consolidated statements

; - ; - (.) ; ; ; ; ; ; ; ; ; ; ; (); ; ; ; ; ; ; ; ; ;

98

consolidated tax return

; ; ; ; ; ; ; ; ; ; ; ( ) ; ; ( ); - ( ) - (, ) ; () ; ; ; ; ; ; ; (.) ( ); ( ) ; ; () ; ; (.) ( ) ; ; (.) ; ; ; ; 99

consolidation

consolidation of interest consols constant price constant returns to scale constituency constituency countries constituent country constituent documents constituent meeting constitutive effect constraining factor constraint constructed value construction construction completion date construction completion risk construction contract construction manager construction project construction risk construction site constructive

constructive obligation constructive total loss (CTL) constructive trust consular fee consultancy contract consultancy fee consultancy services consultant consultant contracts unit (CCU) consultant economist consulting organisation consulting services administrator consumables consumer banking consumer credit Consumer Credit Act [UK] consumer demand consumer electronics consumer finance consumer goods consumer incentive scheme Consumer Leasing Act [US] consumer loan consumer price index (CPI) consumer protection law consumer services

( , ) , ; ; ; ; ; ; ; ( ) ( ) - - ; ; [] ; ; ; ; () ;

100

consumer surplus consumption function consumption pattern contact report container-on-flat-car (COFC) contingencies contingency clause contingency fee

; ; ; ; ; ; ( ) ; ; ; ( ); ; , (); (pactum de quota litis) [] [] ; ; ; ; () ; ; (, , ) ; ; ; ( ); ; , (); (pactum de quota litis) ; ; ; ; ; ; ;

contingency financing [IMF] Contingency Financing Facility [IMF] contingency plan contingency reserve contingent assets

contingent claim contingent commitment contingent consideration contingent facility contingent fee

contingent guarantee contingent liability contingent obligation

101

contingent order contingent rent contingent reserve contingent value right (CVR) contingent worker continuing company continuing consideration continuing covenant continuing damage contra account contra entry contra reserve contract contract a loan (v.) contract administration contract arrangements contract award contract buyer contract ceiling amount contract enforcement contract execution

; () ; -; ; (.) ; ; ; ; ; ; ; ; ; ; , ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;

contract financing

contract for consultancy services

contract for labour and materials

102

contract holder contract of affreightment contract of agency contract of beneficence contract of carriage contract of employment contract of factorage contract of hiring contract of indemnity contract of pledge contract of record contract of sale contract of service contract out (v.) contract package contract seller contract service contract size and value contract tariff contract tenor contract under seal contract value contract writer contracting authority contracting company contracting consulting services contracting party

; ; ; ; ; ; ; ; ; ; , - ; ; ; ; ; ; ( ) ; ; ; , ; ; ; ; ; ; ; ; ; ; ; ; , ; , ; , 103

contraction of production contractual commitment contractual delinquency contractual duty contractual flexibility contractual liability contractual licence contractual maturity date contractual obligation contractual penalty contractual price contractual protection contractual right contractual services contractually contractually payable contrarian contributed capital contributions replenishment contributor contrived insolvency control officer control sheet control stock controlled controlled market controlled pace

; ; ; ; ; ; ( ) ; , ; ; , ; ; ; ; , ; ; ; ( ) ; ; , ( , ) ( ); ; ; ; ; ; ; ; 104

controlled price controller controllers department controlling group controlling interest controlling stake convenience credit [US] Convention on Biological Diversity Convention on Environmental Impact Assessment in a Transboundary Context

; ; ; ; ; ; ; ; ; ; []

Convention on Laundering, , , Search, Seizure and Confiscation of the Proceeds of ( ) Crime (Council of Europe Convention on money laundering) Convention on Long-range Transboundary Air Pollution Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 10 June 1958) Convention on the Settlement of Investment Disputes Between States and Nationals of Other States conventional factoring conventional financing conventional risk conventional tariff conversion (-, 10 1958 )

; ; ; ; ; (); (); ( ); ; ( ) ; ; ;

conversion cost conversion features of a loan

105

conversion fee conversion into cash conversion of a foreign money debt conversion of loan notes

; ; ; ; ; ; ; ( ) ( ) ( ); , ; ; ( ) ; ; , ( ) ; ( ) ( ) ; ( ) ; ( ) ( , ); , ; ; , , 106

conversion premium conversion price conversion privilege conversion rate conversion reserve convertibility convertible bond (Cb)

convertible capital raising convertible debenture convertible preferred stock convertible security conveyance conveyance duty conveyances cooling-off period

cooperation fund cooperative advertising cooperative equilibrium

cooperative financing facility cooperative oversight Coordinating Committee of a RVF (Regional Venture Fund) Copenhagen criteria [EU] Copenhagen economic criteria [EU] Copenhagen political criteria [EU] copyright copyrighted name core activities core business core capital core commodities core deposits core lending core owner core shareholder corner the market (v.) corporate action corporate bank

[- ] ( ) (, ; 1993 ) ( : , , , ) ( : , , ) , ; ; ; ; ; () , ; ; ; ( 4% ) ; ; ; , ; ; , ; ; , ; , ; ; ( ); ( )107

corporate banking services corporate bond corporate borrower corporate borrowing

corporate buyer Corporate Citizenship Programme [WB] corporate client corporate counsel corporate culture corporate department corporate development plan corporate doctor (inform.)

- ; -; -; ( ); ( ) [ ] - ; -; ; - ; ; ; , ( ); ( ) ; - ; ; , ; ; , ( ) (); ; () ; ; ; ; ; ; ; ; ; ( ) ; ( ); ; ; ; ;

corporate entity corporate evaluation corporate existence corporate finance corporate finance distribution corporate finance regulation corporate financing

corporate franchise corporate governance corporate governance arrangements corporate identity

corporate income tax

108

corporate killer corporate law corporate lending corporate loan corporate note corporate partner corporate planning unit corporate powers corporate recovery corporate resolution corporate security corporate services contract corporate shareholder corporate shell corporate social responsibility (CSR) corporate strategy corporate structure corporate switchboard

; ( ), ; ; ( ); ; ; ; ; ; ; ; -; - ( ); ( ) ; () ( ); ; - ; ; , , ; (, ); (, ); (, ) ( ); ; ; ; ; ; ; ; ; 109

corporation tax corporatisation corrective action

corrective maintenance correspondent bank (CB) corrupt practice cost cost accounting

- ; ; ; ; ; ; ; ;

Cost and Freight (CFR) (... named ... ( ) port of destination) cost assumptions cost-based price cost-based pricing ; ; ; , ; ; ; - -; ; ; ; ; ; ; ; ; ;

cost behaviour cost-benefit cost-benefit analysis cost-benefit principle cost breakdown cost centre cost certification cost component cost effectiveness cost-effectiveness analysis cost efficiency cost engineer cost engineering cost estimate cost-free resources

Cost, Insurance and Freight (CIF) (, ...) ( (... named port of destination) ) cost method cost of an investment ;

cost of an item of property, plant and equipment or of an intangible asset110

cost of borrowing cost of capital cost of carrying

; ; ; ( , , - ) ; ; ; ; ; ; ; ( ); [] , ; ( ); ; ; ; ; ; , ; ; ; ; ;

cost of conversion cost of energy cost of funds (COF) cost of inventories cost of investment cost-of-living allowance cost of purchase cost or market, whichever is lower cost overrun cost overrun contingency cost-plus contract

cost-plus-fixed-fee contract cost-plus method cost-plus price cost-plus pricing

cost price cost principle cost-push inflation cost recovery

111

cost-recovery method cost schedule cost sharing costing costs of the tribunal

; ; ; ; ; ; ; ; ;

Council of Europe Convention on , , Laundering, Search, Seizure and Confiscation of the ( ) Proceeds of Crime (Council of Europe Convention on money laundering) Council of Europe Development Bank Council Regulation [EC] council tax counsel counsellor counter-claim counter-guarantee counter-indemnity counter-offer counter-purchase counterfeit money counterfoil countermand of a cheque counterpart counterpart loan counterpart staff counterparty counterparty risk countertrade countervailing [] []; ; ; ; ; ; ; ; ; (, ) ; ; ( . .) ; ( , ); , ( ); (.) ; ; ; ; ; ; ; ; 112

countervailing duty country eligible for membership country exposure

; , [] ; ( ) - ( ) ; ; ; - []; - [] (, ) ; ... ( ) ( ); [] [] ; ; ( ) ; , ; ( ) ( )

country exposure lending survey country implementation review (CIR) country in transition country limit country marketing responsibility country of assignment country of operations country of origin certificate country of residence country of source country officer country portfolio ratio

country presentation country rating country restriction country review trigger country risk country risk rating country-specific fund country strategy country team country team leader (CTL)

113

coupon coupon bond coupon income coupon rate coupon stripping coupon swap court-appointed administrator court enforcement action

, ; ; , ; ; - ; ; ; ; ; ; ; ( ) ; [] ; ; , ; ; ; , ( ) ; ; (.) ; ; ( ); ( ); ; ; ; ; ; ; ( );

court injunction court of arbitration Court of Auditors [EC] court of competent jurisdiction court penalty court proceedings court remedy court trust covenant covenant control sheet cover (insurance) cover a short position (v.) cover letter cover note

coverage

114

coverage capital coverage ratio coverall exposure covered red clause covered writer covering note covering purchase covering transaction CPT (carriage paid to) (... named place of destination) cranage crash programme crawling peg create a security interest (over something in favour of somebody) (v.) create an equivalent lien on assets (v.) creation of a charge credentials credible bankruptcy threat credit credit accommodation credit advice credit against goods credit an account (v.) credit analysis credit and equity analysis credit and equity review

, ( ) [] ; ( ) ; ; ; ; ; ( ) ( ) ... ( ) ; (- - ); (- ) (-) (); ; ; ; ; ; , ; ; ; ( ) ; ; ; ;

115

credit application credit appraisal credit appraisal procedures credit balance credit bearing capacity credit ceiling credit check credit commission credit committee credit control credit costs credit enhancement credit entry credit evaluation procedures credit exposure credit facility credit facility agreement credit file credit file supervisor (CFS) credit for inventories credit history credit information credit inquiry credit institution credit interest

; ; ; ( ); ; ( ); (.) ; ; ; ; ( ) ( ); ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( ) ; ;

116

credit investigation credit limit credit line (CL) credit line operation credit management credit margin credit memorandum credit norm credit note (C/N) credit officer credit (on ) credit outstandings credit overdraft credit procedures credit procedures manual

; ( ) ; ; ; ; ; ; ; ( ); ; ; ; ; ( ) ; ; ; ; ; ; ( ); ; ; - ; ; ; ; ; - ; ;

credit process credit profile credit proposal credit quality credit rating credit rating agency [US] credit rationing credit reference agency [UK]

117

credit-related insurance credit restriction credit review credit risk credit sale credit scoring credit scoring system credit slip credit solvency credit spread credit squeeze credit standing credit supply credit to ... (v.) credit tranche credit transfer credit union (CU) creditor creditor in bankruptcy creditor in insolvency proceedings creditor ranking creditors committee creditors equity creditorsmeeting creditworthiness crisis management

; ; ; ; ; ; ; ( ); ( ) ; ( ) ; ; ; ; ; ; ... ; ; ( )[]; ; ; ; ( ) ( ) ( ) ; ; ; ; ; ( )

critical item

118

critical path critical technology crony capitalism cross-action cross-border assets cross-border investment cross-border investment project cross-cancellation of debts cross-currency interest rate swap cross-currency swap cross-default cross-default clause cross-default provision

(); (); ( ) ; ; ; ; () ; ; ; ; ; ; (.); ; ; (.) ; ; (.) ( - ); (.) ( ) - ( , ); ( ) ( , . . ) ;

cross-demand cross-effectiveness clause cross-elasticity of demand cross-over account cross rate

cross-sectional data cross selling cross-subsidy

119

crossed cheque crowding-in effect crowding-out effect crown jewels crystallisation crystallised floating charge cul-de-sac technology cultivate core competence (v.) cum dividend cumbersome procedure cumulative cumulative arrears cumulative assets cumulative commitments cumulative demand cumulative disbursements cumulative efficiency cumulative evidence cumulative percentage cumulative preferred stock cumulative turnover cumulative voting cumulatives curb market curb price curb trading

( ; , ) ; ; ; ( ) ; , ( ); ; ; ; ; ; ; ; ; ; ( ); ( ) ; ( ); ( ) ; ; ; ; ( ) ; ; ( ) ; ; ; ( )

120

cure period curing of delinquency currencies of the basket against which the local currency is pegged currency and interest swap agreement currency band currency board currency clause currency conversion currency coupon swap currency exchange regulation currency exposure currency futures currency gains difference currency index fluctuation range currency intervention currency issued currency management currency of a contract currency of disbursements currency of payment currency of transaction currency option currency parity currency risk currency swap currency trading range currency valuables currency with restricted convertibility

; ; , ;

; ; ( ) ; ; ( , , ) ; ; ; ; ; ; ; ; ; ()

121

current account (AC; a/c) current account balance current account convertibility current account deficit current account of the balance of payments current account overdraft current account surplus current account transaction current annuity current arrears rate current assets current assets/current liabilities ratio current balance current balance of payments current business current capital current cost current cost approach current coupon current earnings current expenditure current external balance current inventory

; ; ; ; (.); ; ; ; ; ; ; (); ; ; ; ; ; ; ; ; ; ; (.) ; ; ; ; ; ; ; ; ; ; - ;

122

current investment current legislation current liabilities current market value (CMV) current operating performance current operating performance statement [US] current price (p/c) current price GNP current rate method current ratio

; ; ( ) ; ; ; ; ; ; ; , ; ( ); ; ; (.) () ; - ( ); ( , , . .) -;

current service cost current structure of the tariff current tax current terms current value accounting current values current yield curriculum vitae (CV) curtailment cushion theory custodial bank custodian custodian bank custody account custody charge custody price custody services custom configuration

123

custom-designed custom-tailored approach custom-tailored services customary margin customer deposits customer call centre customer disloyalty customer financing customer loyalty customer pledge customer service customisability

; ; ; ; ; ; ; ; (, , . .) ; ; ; ; ( ) ; ; ; ; ; ; ; ; ; (, ) ; ; ; ; ; ( ) ( ) ( ); , ; () 124

customs assigned number (CAN) customs bond customs clearance customs clearance agent customs commission customs debenture customs declaration customs duty customs endorsement customs escort

customs escort charge customs examination customs examination list customs expenses customs fastening customs finding customs fraud customs inspection customs law customs mark customs power of attorney customs receipt customs receipts customs tariff Customs Union [EC] customs valuation method customs warrant cut-off cut-through endorsement

; ; ; ; ; ; ; ; ( ) ; ; [EC] ; ( ) ( ); ( ) (, ) ( ) , ( )

cut-through insurance cybersquatter cycle cycle check cyclical budget cyclical consumer goods cyclical unemployment

125

DDAF (delivered at frontier) daily cash settlements damage to property data administrator data book data carrier data circuit data collection and evaluation data corruption data encryption data gap data hiding data link data medium data migration data processing data rate data reduction data room data security data sink ( ) ; ; ; () ; ; ; ; () ; ; 126

data splitting data validation data validity data warehousing date of issue date of record date payment due dated date dated loan capital dated marketable security dated security day of acquisition day of grace day order day-to-day loan day-to-day money daylight overdraft days sales outstanding (DSO) DDP (delivered duty paid) (... named place of destination)

( . .); (); () () , ; ; ( ) ; ; ; ; ( ) ; ( ) ... ( )

DDP Exclusive VAT and/or Taxes , / DDP Unloaded DDU (delivered duty unpaid) DDU (delivered duty unpaid) (... named place of destination) DDU Cleared de-mutualisation dead loss , ( ) ... ( ) , 127

dead money dead time deal-breaker deal process dealer dealing securities death futures [US]

; ; , ; , ; ; , ( ; ) ; ; ; ; []; ; ; ; ; ; ; ; ...; ...; ; ... (.) ( ); (.) ; (.); ; ; ;

debenture debenture bond debenture capital debenture debt debenture loan debenture stock debit advice debit an account (v.) debit balance debit card debit entry debit float debit interest debit item debit ledger debit memorandum debit note (D/N) debit operation debit slip

128

debit to ... (v.) debit transfer debiting debiting limit debt debriefing meeting debt acceleration

...; ... (.); ...; ( ); ( ) ; ; ; ; ; ( , ) ; (); ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ( ) ; ;

debt administration debt burden debt buyback debt cancellation debt capacity debt capital debt capitalisation scheme

debt-carrying capacity debt ceiling debt collection debt collection agency debt consolidation debt derivatives market debt discount debt enforcement debt/equity ratio debt/equity shift

129

debt/equity swap

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; () ; ; ; ; ; ; ; ; ; ( ) ; ; ;

debt expense

debt financing

debt for environment swap debt for equity swap

debt for nature swap debt forgiveness debt forgiveness agreement debt funding debt holder debt in arrears debt innovation debt instrument debt issuance debt loading debt market debt monetisation debt obligation debt origination debt overhang

130

deb