Glossary

The finance industry speaks its own language. To help you better understand these words, we created a glossary of terms.

Budget building technique where each department begins at zero and adds the cost of essential programs up to a preestablished funding limit. Every year, the process begins again at zero; promptim close prioritization of costs and scrutiny annually.

Bond that does not pay interest but is priced at issue at a discount from the redemption price.

Provision in the insolvency law of some countries where transactions of a closed institution that occur after midnight on the date the institution is closed may be retroactively determined ineffective.

Visa's policy that almost completely eliminates consumer liability in cases of card fraud for all Visa card transactions process through the Visa network including those purchases made online.

Designation of particular areas by a local planning authority within a specific jurisdicion for the purpose of legally determining land use and use categories.