Business Letters Index
Commercial Terms starting with D.
Date of Maturity : Date on which a debt is owed by another.
Day of Grace : Extra time allowed by law or custom for making certain payments.
Dead stock : Inventory for which there is little or no demand.
Dead weight : The weight of the freight-carrying vehicles or vessels without load.
Debenture : A document issued under the seal of the company usually changing all or some of company’s property in favour of the holder. The rate of interest payable at the time within which the amounts are to be repaid etc., are clearly, mentioned on the document.
Debit : In accounts, a debit refers to an amount for which outgoing is entered. It also means a debt or an amount owed.
Default : Failure to perform a term of contract at the stipulated time.
Demurrage : A charge made on the goods by railway/transport companies/shippers, etc, for retaining goods beyond a specified period.
Deposit Account : This refers to an account with the bank in which the amount is paid or deposited which is not required for an immediate use. A certain interest is paid on this sum by the bank and usually a notice for withdrawal is required.
Discount : A reduction of a principal amount.
Cash discount : is allowed for making cash on prompt payment.
Trade discount : is allowed by the manufacturers or producers to their dealers. This is generally a certain percentage on the marked or printed price of the product.
Special Discount : is allowed under special circumstances-generally on the large orders or on orders received during a particular period. In certain cases it is also allowed on shop-soiled stock.
Dividend : This refers to the interest paid on investment. Profits of a company divisible among its members are also dividends.
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