Business Letters Index
Commercial Terms starting with A.
Abandonment : the relinquishment or surrender of rights, interest or property by one person to another expressly or by implication.
Acceptance : It is the act by which the drawee of bill of exchange binds himself the same when due. Writing of the name across the face of the bill constitutes acceptance.
Account : In accounting, it means a ledger sheet-showing debit and credit of any asset, liability, income etc., while in business, every customer is sometimes referred as a separate account.
Accounts Current : Statements of accounts rendered between home firms and foreign firms, between whom there are frequent transactions, showing the daily balance and adding or deducting interest thereon.
Account Payable : A debt, owing to an enterprise, which arises in the normal course of business dealing and is not supported by negotiable paper.
Act of God : any act beyond human causes or not subject to human fore sight.
Advance Bill : A Bill of exchange drawn before shipment of goods.
Ad Val Orem : According to value.
Ad Val Orem Duty : Duty levied on the value of certain item and can only be altered by a special resolution of the members.
At the market : An order to a broker to sell immediately at the best possible price.
Advice : A sworn statement for declaration in writing before an official authorized to execute such instruments.
After Sight : A term used to indicate that the period for which a Bill of Exchange is drawn, will not begin until after it has been presented to the drawee.
Agreement : A contract or bargain to do or not to do certain things, whereas it is always desirable to have all the agreements in writing. However, it has often been found that even verbal agreements are equally honoured by the parties concerned.
Allonge : A ship of paper pasted on a Bill of Exchange for continuation of endorsement.
All-Risk Insurance : An Insurance policy insuring against loss caused by all perils except those especially excluded and are hence mentioned on the policy.
Appeal Bond : A bond required for an appellant to assure payment of costs and damages if the appeal is lost.
Article of association : This document defines the powers, rights, duties and authority of the shareholders and the directors of a limited Company is a set of rules for the internal management of the Company.
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