Definition of Part standardization

Part standardization

The planned reduction of similar parts through the standardization
of parts among multiple products.

Cost of limited partner capital

The discount rate that equates the after-tax inflows with outflows for capital
raised from limited partners.

Counterpart items

In the balance of payments, counterpart items are analogous to unrequited transfers in the
current account. They arise because the double-entry system in balance of payments accounting and refer to
adjustments in reserves owing to monetization or demonetization of gold, allocation or cancellation of SDRs,
and revaluation of the various components of total reserves.

Counterparties

The parties to an interest rate swap.

Counterparty Party

on the other side of a trade or transaction.

Counterparty risk

The risk that the other party to an agreement will default. In an options contract, the risk
to the option buyer that the option writer will not buy or sell the underlying as agreed.
Country economic risk Developments in a national economy that can affect the outcome of an international
financial transaction.

General partner

A partner who has unlimited liability for the obligations of the partnership.

General partnership

A partnership in which all partners are general partners.

Limited partner

A partner who has limited legal liability for the obligations of the partnership.

Limited partnership

A partnership that includes one or more partners who have limited liability.

Limited partnership

A partnership that includes one or more partners who have limited liability.

Master limited partnership (MLP)

A publicly traded limited partnership.

Participating GIC

A guaranteed investment contract where the policyholder is not guaranteed a crediting
rate, but instead receives a return based on the actual experience of the portfolio managed by the life company.

Participating fees

The portion of total fees in a syndicated credit that go to the participating banks.

Partnership

Shared ownership among two or more individuals, some of whom may, but do not necessarily,
have limited liability. See: general partnership, limited partnership, and master limited partnership.

Strip mortgage participation certificate (strip PC)

Ownership interests in specified mortgages purchased
by Freddie Mac from a single seller in exchange for strip PCs representing interests in the same mortgages.
Stripped bond Bond that can be subdivided into a series of zero-coupon bonds.

Subpart F

Special category of foreign-source "unearned" income that is currently taxed by the IRS whether
or not it is remitted to the U.S.

administrative department

an organizational unit that performs management activities benefiting the entire organization;
includes top management personnel and organization
headquarters

limited liability partnership

an organizational form that is a hybrid of the corporate and partnership organizational
forms and used to limit the personal liability of the owners;
it is typically used by large professional (such as accounting) firms

participatory budget

a budget that has been developed
through a process of joint decision making by top management
and operating personnel

service department

an organizational unit that provides one or more specific functional tasks for other internal units

third-party logistics

outsourcing of the moving and warehousing
of finished goods between manufacturer and merchant
and sometimes back to the manufacturer

Partnership

A form of business organization in which owners have unlimited personal
liability for the actions of the business, though this problem has been mitigated
through the use of the limited liability partnership.

partnership

Business owned by two or more persons who are personally responsible for all its liabilities.

Participation Rate

Fraction of the noninstitutionalized population 16 years of age and over that is in the labor force.

Related Party

An entity whose management or operating policies can be controlled or significantly
influenced by another party.

Departmental stocks

The informal and frequently unauthorized retention of excess inventory on the shop floor, which is used as buffer safety stock.

Nonsignificant part number

An identifying number assigned to a part that conveys
no other information.

Part

A specific component of a larger assembly.

Part number

A number uniquely identifying a product or component.

Parts requisition

An authorization to move a specific quantity of an item from
stock.

Remanufactured parts

parts that have been reconstructed to render them capable
of fulfilling their original function.

Replacement parts

parts requiring some modification before being substituted
for another part.

Significant part number

An identifying number assigned to an item that conveys
additional embedded information.

Collection Department

An internal department within a company staffed by specialists in collecting past due accounts or accounts receivable.

Participation Fee

Fee charged by a bank for taking part in providing a loan.

Partnership

Non-incorporated business venture of two or more individuals or companies. Profits or losses flow, directly and equally, to the partners.

Non-participating Policy

A type of insurance policy or annuity in which the owner does not receive dividends.

Participating Policy

A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.

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