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Definition of Without
If 70 were bid in the market and there was no offer, the quote would be "70 bid without." The
without the lender having any right to seek payment or seize assets in the event of
Goods may be returned to the seller by the purchaser without restrictions.
A clause in a shareholders agreement preventing a company from issuing additional shares, without allowing the current shareholders the opportunity to participate in the offering to avoid dilution of their percentage ownership.
The simultaneous buying and selling of a security at two different prices in two different markets,
Any large principal payment due at maturity for a bond or loan with or without a a sinking
A system of exchange in which one good is traded directly for another without the use of money.
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
Currency, coin, and funds on deposit that are available for immediate withdrawal without
a cost related either to the long-term investment
An account maintained in the general ledger that holds the balance without the detail. The detail is maintained in a subsidiary ledger.
The act of changing from one type of life insurance policy to another, without having to give evidence of insurability.
Term life insurance products are offered as non-convertible or convertible to a certain time in the future. The coversion right has a time limit, usually to the policy holder's age 60 or possibly even age 70. This right means that the policy holder has the right to convert their existing policy to another specific different plan of permanent insurance within the specified time period, without providing evidence of insurability. There is a slightly higher cost for a term policy with the conversion priviledge but it is a valuable feature should a policy holder's health change for the worst and continued insurance coverage becomes a necessity.
The degree of freedom to exchange a currency without government restrictions or controls.
Times in a company's history when growth is essential and without which survival of the business might be in jeopardy.
any item (such as quality, customer
The percentage return on a financial asset based on the current price of the asset, without reference to any expected change in the price of the asset. This contrasts with yield-to-maturity, for which the calculation includes expected price changes. See also yield.
Dead Peasants Insurance
Also known as "Dead Janitors Insurance", this is the practice, where allowed, in several U.S. states, of numerous well known large American Corporations taking out corporate owned life insurance policies on millions of their regular employees, often without the knowledge or consent of those employees. Corporations profiting from the deaths of their employees [and sometimes ex-employees] have attracted adverse publicity because ultimate death benefits are seldom, even partially passed down to surviving families.
Dividend reinvestment plan (DRP)
Automatic reinvestment of shareholder dividends in more shares of a
Doctrine of sovereign immunity
Doctrine that says a nation may not be tried in the courts of another country
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
European Union (EU)
An economic association of European countries founded by the Treaty of Rome in
Revolving credit without maturity.
This literally means "without dividend." The buyer of shares when they are quoted ex-dividend
In connection with a rights offering, shares of stock that are trading without the rights attached.
The discounting, or sale at a discount, of receivables on a nonrecourse, notification
Refers to an order to buy or sell that can be executed without confirmation for some fixed period. Also,
1) A bond in default trades flat; that is, the price quoted covers both principal and unpaid,
Charge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets.
Low-cost, high-usage inventory items stored near the shop floor,
Direct trading in exchange-listed securities between investors without the use of a broker.
A constant stream of cash flows without end that is expected to rise indefinitely.
A promise that a life insurance policy will be renewed without penalty or medical examination after the term has expired. The renewal rate can also be guaranteed.
A policy designed to lower inflation without reducing aggregate demand. Wage/price controls are an example.
Incremental cash flows
Difference between the firm's cash flows with and without a project.
In England in the 1700's it was popular to bet on the date of death of certain prominent public figures. Anyone could buy life insurance on another's life, even without their consent. Unfortunately, some died before it was their time, dispatched prematurely in order that the life insurance proceeds could be collected. In 1774, English Parliament passed a law which restricted the right to be a beneficiary on a life insurance contract to those who would suffer an economic loss when the life insured died. The law also provided that a person has an unlimited insurable interest in his own life. It is still a legal stipulation that an insurance contract is not valid unless insurable interest exists at the time the policy is issued. Life Insurance companies will not, however, issue unlimited amounts of coverage to an individual. The amount of life insurance which will be approved has to approximate the loss caused by the death of the individual and must not result in a windfall for the beneficiary.
Internal growth rate
Maximum rate a firm can expand without outside source of funding. Growth generated
internal growth rate
Maximum rate of growth without external financing.
The number of days that a firm can finance operations without additional cash income.
This means dying without a will, in which case the provincial laws of the province in which the death occurred apply to the manner in which assets will be distributed. In other words, if you don't write your own will, the government will do it for you after your death and it may not be as you would have wished.
Irrational call option
The implied call imbedded in the MBS. Identified as irrational because the call is
Magic of diversification
The effective reduction of risk (variance) of a portfolio, achieved without reduction
A strategy that seeks to combine assets a portfolio with returns that are less than
Economists who, like classical economists, believe that wages and prices are sufficiently flexible to solve the unemployment problem without help from government policy.
No load mutual fund
An open-end investment company, shares of which are sold without a sales charge.
This is the maximum value of a policy that an insurance company will issue without the applicant taking a medical examination, although medical questions are invariably asked during the application process. When a non-medical issue is made through group insurance, in most cases, medical data is not requested at all.
without recourse, as in a non-recourse lease.
Contracts which have been bought or sold without the transaction having been completed by
The inherent or fundamental risk of a firm, without regard to financial risk. The risk that is
Option-adjusted spread (OAS)
1) The spread over an issuer's spot rate curve, developed as a measure of
Overnight delivery risk
A risk brought about because differences in time zones between settlement centers
The tendency of a pool of MBSs to reflect an especially high rate or prepayments the first time
Passive investment management
Buying a well-diversified portfolio to represent a broad-based market
The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
A constant stream of identical cash flows without end, such as a British consol.
The option of postponing a project without eliminating the possibility of undertaking it.
Sale of securities to a limited number of investors without a public offering.
Written promise committing the maker to pay the a specified sum of money either on demand or on some future date, with or without interest.
Theory that stock price changes from day to day are at random; the changes are independent
A bond whose issuer records ownership and interest payments. Differs from a bearer bond
Inability of an individual/company to convert an asset into cash or cash equivalent without significant cost.
Process of changing the firm’s capital structure without changing its assets.
Also called investment value, the value of a convertible security without the con-version option.
Refers to a bid or offer that cannot be executed without confirmation from the customer.
Sustainable growth rate
Maximum rate of growth a firm can sustain without increasing financial leverage.
sustainable growth rate
Steady rate at which a firm can grow without changing leverage; plowback ratio × return on equity.
An interest-earning bank deposit that cannot be withdrawn without penalty until a specific time.
Mutual Funds: A measure of trading activity during the previous year, expressed as a percentage of
Waiver of Premium
This is an option available to the applicant for life insurance which sets certain conditions under which an insurance policy will be kept in full force by the insurance company without the payment of premiums. Very specifically, a life insured would have to become totally disabled through injury or illness for a period of six months before the benefit kicks in. When it does, the insurance company retroactively pays premiums from the beginning of the disability until the time the insured is able to perform some form of regular activity. 'Totally disabled' is highlited here, because that is what is required to receive this benefit.
Yearly Renewable Term Insurance
Sometimes, simply called YRT, this is a form of term life insurance that may be renewed annually without evidence of insurability to a stated age.
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