A trade term for Cost, Insurance and Freight, whereby the seller's quoted price includes insurance and all other costs up to a designated port of destination.
law and economics
An unethical business practice by some stock brokers where excessive trade is made in a client's account in order to generate more commission from the account. Churning prohibited by many securities laws and is judicially actionable.
The attrition of customers of a business or users of a service which is used to gauge the growth of a business or economy.
A draft upon a particular account in a bank, in which the drawer or maker (the person who has the account and signs the check) directs the bank to pay a certain amount to the payee. (See also: negotiable instrument)
An antiquated term for a mortgage on personal goods (as opposed to real estate) where the lender holds an interest in the property as security for the loan. Today these arrangements are referred to as "security agreements".
A irrevocable charitable trust in which the income from said trust goes to the donor (or a specified beneficiary), and the body of the trust property will later go to a charity. This is used for tax savings - the IRS will allow a deduction in the year the assets are put in the trust.
Compare to Charitable Lead Trust
A nonprofit organization created and operated for purposes that benefit the public interest, such as educational, scientific, religious and artistic purposes. Charitable organizations that meet the requirements of Internal Revenue Code 501(c)(3) are exempt from federal income tax and are eligible to receive tax deductible charitable contributions.