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Dictionary_of_Banking_and_Finance
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central purchasing |
cat /k t/ fat cat, dead-cat bounce
catalogue price / k t(ə)lɒ pra s/ noun a price as marked in a catalogue or list
catastrophe /kə t strəfi/ noun a sudden disaster
catastrophe bond /kə t strəfi bɒnd/ noun a bond with very high interest rate but, which may be worth less, or give a lower rate of interest, if a disaster such as an earthquake occurs
CAT standards / k t st ndədz/ plural noun standards introduced by the government as an incentive to offer savers an even better deal, and to make it easier to spot the best investment value
caveat / k vi t/ noun warning to enter a caveat to warn someone legally that you have an interest in a case, and that no steps can be taken without your permission
caveat emptor / k vi t emptɔ / phrase a Latin phrse meaning ‘let the buyer beware’, which indicates that the buyer is responsible for checking that what he or she buys is in good order
‘…the idea that buyers at a car boot sale should have any rights at all is laughable. Even those who do not understand Latin know that caveat emptor is the rule’ [Times]
caveat venditor / k vi t ven-
di tɔ / phrase a Latin phrase meaning ‘let the seller beware’, which indicates that the seller is legally bound to make sure that the goods he sells are in good order
CBOT abbreviation Chicago Board of Trade
CBS All-Share / si bi es ɔ l ʃeə/ noun an index of prices on the Amsterdam Stock Exchange (NOTE: The CBS
Tendency also lists Amsterdam share prices.)
CCA abbreviation current cost accounting
CD /si di / abbreviation certificate of deposit
cedi / si di/ noun a unit of currency used in Ghana
ceiling / si l ŋ/ noun the highest point that something can reach, e.g. the highest rate of a pay increase to fix a ceiling for a budget There is a ceiling of $100,000 on deposits. Output reached its ceiling in June and has since fallen
back. What ceiling has the government put on wage increases this year?
ceiling price / si l ŋ pra s/ noun the highest price that can be reached
cent /sent/ noun a small coin, one hundredth of a dollar The stores are only a 25-cent bus ride away. They sell oranges at 99 cents each. (NOTE: Cent is
usually written ¢ in prices: 25¢, but not when a dollar price is mentioned: $1.25.)
central / sentrəl/ adjective organised from one main point
central assets account / sentrəlsets ə kaυnt/ noun same as asset
management account
central bank / sentrəl b ŋk/ noun the main government-controlled bank in a country, which controls that country’s financial affairs by fixing main interest rates, issuing currency, supervising the commercial banks and trying to control the foreign exchange rate
central bank discount rate
/ sentrəl b ŋk d skaυnt re t/ noun the rate at which a central bank discounts bills, such as treasury bills
central bank intervention
/ sentrəl b ŋk ntə venʃ(ə)n/ noun an action by a central bank to change base interest rates, to impose exchange controls or to buy or sell the country’s own currency in an attempt to influence international money markets
central government / sentrəlv(ə)nmənt/ noun the main govern-
ment of a country (as opposed to municipal, local, provincial or state governments)
centralisation / sentrəla ze ʃ(ə)n/, centralization noun the organisation of everything from a central point
centralise / sentrəla z/, centralize verb to organise from a central point
All purchasing has been centralised in our main office. The group benefits from a highly centralised organisational structure. The company has become very centralised, and far more staff work at headquarters.
central office / sentrəl ɒf s/ noun the main office which controls all smaller offices
central purchasing / sentrəlp% tʃ s ŋ/ noun purchasing organised
central rate |
57 |
CFA franc |
by a central office for all branches of a company
central rate / sentrəl re t/ noun an exchange rate of a currency against the US dollar according to IMF rules
centre / sentə/ noun 1. an important town Sheffield is a major industrial centre. Nottingham is the centre for the shoe industry. 2. a group of items in an account (NOTE: [all senses] The US
spelling is center.)
CEO abbreviation chief executive officer
certain annuity / s% t(ə)n ə nju ti/ noun an annuity which will be paid for a certain number of years only
certificate /sə t f kət/ noun an official document which shows that something is owned by someone or that something is true
certificated bankrupt /sə t f - ke t d b ŋkr pt/ noun a bankrupt
who has been discharged from bankruptcy with a certificate to show that he or she was not at fault
certificate of approval /sə t f kət əv ə pru v(ə)l/ noun a document show-
ing that an item has been approved officially
certificate of authentication /sə-
t f kət əv ɔ θent ke ʃ(ə)n/ noun a unique number supplied to a company by an independent source (an ‘authenticator’) to prove that the company is who they claim to be
certificate of authority /sə t f kət əv ɔ θɒrəti/ noun a certificate showing
that someone has the authority to do something, such as sign a cheque
certificate of deposit /sə t f kət əv d pɒz t/ noun a document from a bank showing that money has been deposited at a certain guaranteed interest rate for a certain period of time. Abbreviation CD
‘…interest rates on certificates of deposit may have little room to decline in August as demand for funds from major city banks is likely to remain strong. After delaying for months, banks are now expected to issue a large volume of CDs. If banks issue more CDs on the assumption that the official discount rate reduction will be delayed, it is very likely that CD rates will be pegged for a longer period than expected’ [Nikkei Weekly]
COMMENT: A CD is a bearer instrument, which can be sold by the bearer. It can be
sold at a discount to the value, so that the yield on CDs varies.
certificate of incorporation /sə-
t f kət əv n kɔ pə re ʃ(ə)n/ noun a document issued by Companies House to show that a company has been legally set up and officially registered
certificate of origin /sə t f kət əvɒr d$ n/ noun a document showing where imported goods come from or were made
certificate of quality /sə t f kət əvkwɒl ti/ noun a certificate showing the grade of a soft commodity
certificate of registration /sə-
t f kət əv red$ stre ʃ(ə)n/ noun a document showing that an item has been registered
certificate of tax deducted /sə-
t f kət əv t ks d d kt d/ noun a document issued by a financial institution showing that tax has been deducted from interest payments on an account
certified accountant / s% t fa d ə-
kaυntənt/ noun an accountant who has passed the professional examinations and is a member of the Chartered Association of Certified Accountants
certified cheque / s% t fa d tʃek/, certified check noun a cheque which a bank says is good and will be paid out of money put aside from the payer’s bank account
certified public accountant
/ s% t fa d p bl k ə kaυntənt/ noun US an accountant who has passed professional examinations
certify / s% t fa / verb to make an official declaration in writing I certify that this is a true copy. The document is certified as a true copy. (NOTE: certi-
fies – certifying – certified)
cession / seʃ(ə)n/ noun giving up property to someone (especially a creditor)
c/f abbreviation carried forward
CFA abbreviation Communauté financière africaine
CFA franc / si ef e fr ŋk/ noun a franc with a fixed exchange rate against the euro, used in African countries which were formerly French colonies (Benin, Burkina Faso, Cameroon, the Central African Republic, Chad, Congo,
CFO
Equatorial Guinea, Gabon, Ivory Coast, Mali, Niger, Senegal and Togo)
CFO abbreviation chief financial officer
CFP abbreviation Communauté Française du Pacifique
CFP franc / si ef pi fr ŋk/ noun a franc with a fixed exchange rate against the euro, used in French territories in the Pacific
CGT abbreviation capital gains tax
chairman / tʃeəmən/ noun a person who presides over the board meetings of a company the chairman of the board or the company chairman the chairman’s report, the chairman’s statement an annual report from the chairman of a company to the shareholders
‘…the corporation’s entrepreneurial chairman seeks a dedicated but part-time president. The new president will work a three-day week’ [Globe and Mail (Toronto)]
COMMENT: Note that in a UK company, the chairman is less important than the managing director, although one person can combine both posts. In the US, a company president is less important than the chairman of the board.
chairman and managing director / tʃeəmən ən m n d$ ŋ da -
rektə/ noun a managing director who is also chairman of the board of directors
Chamber of Commerce
/ tʃe mbər əv kɒm% s/ noun a group of local business people who meet to discuss problems which they have in common and to promote commerce in their town
Chancellor of the Exchequer
/ tʃɑ nsələr əv ði ks tʃekə/ noun GB a chief finance minister in the govern-
ment (NOTE: The US term is Secretary of the Treasury.)
change /tʃe nd$/ noun 1. money in coins or small notes to give someone change for £10 to give someone coins or notes in exchange for a ten pound note 2. money given back by the seller, when the buyer can pay only with a larger note or coin than the amount asked She gave me the wrong change.
You paid the £5.75 bill with a £10 note, so you should have £4.25 change.
keep the change keep it as a tip (said
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charge |
to, for example, waiters, taxi-drivers) verb 1. to change a £20 note to give someone smaller notes or coins in place of a £20 note 2. to give one type of currency for another to change £1,000 into dollars We want to change some traveller’s cheques. 3. to change hands (of a business, property, etc.) to be sold to a new owner The shop changed hands for £100,000.
change machine / tʃe nd$ mə ʃi n/ noun a machine which gives small change for a note or larger coin
changer / tʃe nd$ə/ noun a person who changes money
channel / tʃ n(ə)l/ verb to send in a certain direction They are channelling their research funds into developing European communication systems. (NOTE:
channelling – channelled)
channel of distribution / tʃ n(ə)l əv d str bju ʃ(ə)n/ noun same as dis-
tribution channel
CHAPS noun a computerised system for clearing cheques organised by the banks. Compare BACS. Full form
Clearing House Automated Payments System
chapter / tʃ ptə/ noun US a section of an Act of Congress
‘…the company filed under Chapter 11 of the federal bankruptcy code, the largest failure ever in the steel industry’ [Fortune]
‘…the firm, whose trademark dates back to 1871, has been desperately trying to cut costs to compete with manufacturers in cheaper countries, but has also been hit by management problems. It said the filing for Chapter 11 protection should have little impact on customers and employees and would allow it to restructure’ [Times]
Chapter 11 / tʃ ptə ten/ noun a section of the US Bankruptcy Reform Act 1978, which allows a corporation to be protected from demands made by its creditors for a period of time, while it is reorganised with a view to paying its debts. The officers of the corporation will negotiate with its creditors as to the best way of reorganising the business.
Chapter 7 / tʃ ptə sevən/ noun a section of the US Bankruptcy Reform Act 1978, which sets out the rules for the liquidation of an incorporated company
charge /tʃɑ d$/ noun 1. money which must be paid, or the price of a service
chargeable
to make no charge for delivery to make a small charge for rental There is no charge for this service or No charge is made for this service. free of charge free, with no payment to be made 2. a debit on an account It appears as a charge on the accounts. 3. a guarantee of security for a loan, for which assets are pledged 4. being formally accused in a court He appeared in court on a charge of embezzling or on an embezzlement charge. verb
1. to ask for money to be paid to charge £5 for delivery How much does he charge? he charges £16 an hour he asks to be paid £16 for an hour’s work 2. to pay for something by putting it on a charge account Can you charge the meal to my room? I want to charge these purchases to the company account. 3. to take something as guarantee for a loan 4. to accuse someone formally of having committed a crime He was charged with embezzling his clients’ money.
chargeable / tʃɑ d$əb(ə)l/ adjective which can be charged repairs chargeable to the occupier
chargeable gains / tʃɑ d$əb(ə)le nz/ plural noun gains made by selling an asset, such as shares, on which capital gains will be charged
charge account / tʃɑ d$ ə kaυnt/ noun an arrangement which a customer has with a store to buy goods and to pay for them at a later date, usually when the invoice is sent at the end of the month
(NOTE: The customer will make regular monthly payments into the account and is allowed credit of a multiple of those payments.)
charge card / tʃɑ d$ kɑ d/ noun a type of credit card (such as American Express) for which a fee is payable, but which does not allow the user to take out a loan (he or she has to pay off the total sum charged at the end of each month)
chargee /tʃɑ d$i / noun a person who has the right to force a debtor to pay
charges forward / tʃɑ d$ zfɔ wəd/ noun charges which will be paid by the customer
charging period / tʃɑ d$ ŋ
p əriəd/ noun a period of time during
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chartist |
which charges are made to a credit card before they are charged to the cardholder
chart /tʃɑ t/ noun a diagram displaying information as a series of lines, blocks, etc.
charter / tʃɑ tə/ noun the action or business of hiring transport for a special purpose verb to hire for a special purpose to charter a plane or a boat or a bus
chartered / tʃɑ təd/ adjective 1. referring to a company which has been set up by charter, and not registered under the Companies Act a chartered bank
2. a chartered ship or bus or plane a ship, bus or plane which has been hired for a special purpose
chartered accountant / tʃɑ təd ə-
kaυntənt/ noun an accountant who has passed the professional examinations and is a member of the Institute of Chartered Accountants. Abbreviation CA
Chartered Association of
Certified Accountants / tʃɑ təd ə səυsie ʃ(ə)n əv s% t fa d ə-
kaυntənts/ noun a professional association of accountants in the UK
chartered bank / tʃɑ təd b ŋk/ noun a bank which has been set up by government charter (formerly used in England, but now only done in the USA and Canada)
Chartered Institute of Bankers
/ tʃɑ təd nst tju t əv b ŋkəz/ noun a professional association of bankers, providing training, professional examinations and qualifications which are recognised worldwide. Abbreviation
CIB
charter flight / tʃɑ tə fla t/ noun a flight in an aircraft which has been hired for that purpose
charter plane / tʃɑ tə ple n/ noun a plane which has been chartered
charter value / tʃɑ tə v lju / noun the value of a bank’s being able to continue do business in the future, reflected as part of its share price
charting / tʃɑ t ŋ/ noun the work of using charts to analyse stock market trends and forecast future rises or falls
chartist / tʃɑ t st/ noun a person who studies stock market trends and forecasts future rises or falls
chattel mortgage
chattel mortgage / tʃ t(ə)lmɔ d$/ noun money lent against the security of an item purchased, but not against real estate
chattels / tʃ t(ə)lz/ plural noun goods, moveable property but not real estate
cheap /tʃi p/ adjective, adverb not costing a lot of money or not expensive
to buy something cheap at a low price He bought two companies cheap and sold them again at a profit. they work out cheaper by the box these items are cheaper per unit if you buy a box of them
cheap labour /tʃi p le bə/ noun workers who do not earn much money
cheaply / tʃi pli/ adverb without paying much money The salesman was living cheaply at home and claiming an enormous hotel bill on expenses.
cheap money /tʃi p m ni/ noun money which can be borrowed at a low rate of interest
cheapness / tʃi pnəs/ noun the fact of being cheap The cheapness of the pound means that many more tourists will come to London.
cheap rate / tʃi p re t/ noun a rate which is not expensive Cheap rate phone calls start at 8 p.m.
cheat /tʃi t/ verb to trick someone so that he or she loses money He cheated the Income Tax out of thousands of pounds. She was accused of cheating clients who came to ask her for advice.
check /tʃek/ noun 1. a sudden stop to put a check on imports to stop some imports coming into a country 2. investigation or examination a routine check of the fire equipment The auditors carried out checks on the petty cash book. 3. US (in a restaurant) a bill 4.
US same as cheque 5. US a mark on paper to show that something is correct
Make a check in the box marked ‘R’.
verb 1. to stop or delay something to check the entry of contraband into the country to check the flow of money out of a country 2. to examine or to investigate something to check that an
invoice is correct to check and sign for goods she checked the computer printout against the invoices she examined the printout and the invoices to see if the figures were the same 3. US to
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cheque |
mark something with a sign to show that it is correct check the box marked ‘R’
(NOTE: The UK term is tick.)
checkable / tʃekəb(ə)l/ adjective US referring to a deposit account on which checks can be drawn
check card / tʃek kɑ d/ noun US a card issued by a bank to use in ATMs, but also used in some retail outlets
check digit /tʃek d d$ t/ noun the last digit of a string of computerised reference numbers, used to validate the transaction
checking account / tʃek ŋ ə-
kaυnt/ noun US same as current account 1
checkoff / tʃekɒf/ noun US a system where union dues are automatically deducted by the employer from a worker’s pay cheque Checkoffs are seen by most employees as worthwhile as long as their interests are well represented by the union. After checkoffs and tax deductions the workers’ pay had been reduced by one third.
check out / tʃek aυt/ verb to go through a checkout and pay for the goods bought
checkout / tʃekaυt/ noun the place where goods are paid for in a shop or supermarket We have opened two more checkouts to cope with the Saturday rush.
check routing symbol /tʃekru t ŋ s mbəl/ noun US a number
shown on an American cheque which identifies the Federal Reserve district through which the cheque will be cleared (similar to the British ‘bank sort code’)
check sample / tʃek sɑ mp(ə)l/ noun a sample to be used to see if a consignment is acceptable
cheque /tʃek/ noun a note to a bank asking them to pay money from your account to the account of the person whose name is written on the note a cheque for £10 or a £10 cheque (NOTE: The US spelling is check.) to cash a cheque to exchange a cheque for cash to endorse a cheque to sign a cheque on the back to show that you accept it
to make out a cheque to someone to write someone’s name on a cheque
Who shall I make the cheque out to? to pay by cheque to pay by writing a
cheque account
cheque, and not using cash or a credit card to pay a cheque into your account to deposit a cheque the bank referred the cheque to the drawer the bank returned the cheque to the person who wrote it because there was not enough money in the account to pay it to sign a cheque to sign on the front of a cheque to show that you authorise the bank to pay the money from your account to stop a cheque to ask a bank not to pay a cheque which has been signed and sent
cheque account / tʃek ə kaυnt/ noun same as current account
cheque book / tʃek bυk/ noun a booklet with new blank cheques (NOTE:
The usual US term is checkbook.)
cheque card / tʃek kɑ d/, cheque guarantee card / tʃek rən ti kɑ d/
noun a plastic card from a bank which guarantees payment of a cheque up to a certain amount, even if the user has no money in his account
cheque requisition / tʃekrekw z ʃ(ə)n/ noun an official note
from a department to the company accounts staff asking for a cheque to be written
cheque stub /tʃek st b/ noun a piece of paper left in a cheque book after a cheque has been written and taken out
cheque to bearer / tʃek tə beərə/ noun a cheque with no name written on it, so that the person who holds it can cash it
Chicago Board of Trade /ʃ -
kɑ əυ bɔ d əv tre d/ noun a commodity market based in Chicago, trading in metals, soft commodities and financial futures. Abbreviation CBOT
Chicago Mercantile Exchange
/ʃ kɑ əυ m% kənta l ks tʃe nd$/ noun a commodity market based in Chicago, trading in livestock futures, and in financial futures on the IMM. Abbreviation CME
Chicago School /ʃ kɑ əυ sku l/ noun a school of monetarists, based at the University of Chicago, led by Professor Milton Friedman
chickenfeed / tʃ k n fi d/ noun a small amount of money (informal)
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chronological order |
chief /tʃi f/ adjective most important
He is the chief accountant of an industrial group. She is the chief buyer for a department store.
chief cashier /tʃi f k ʃ ə/ noun a main cashier in a bank
chief executive /tʃi f zekjυt v/,
chief executive officer /tʃi f -
zekjυt v ɒf sə/ noun US the most important director in charge of a company. Abbreviation CEO
chief financial officer /tʃi f fa -
n nʃəl ɒf sə/ noun an executive in charge of a company’s financial operations, reporting to the CEO. Abbreviation CFO
chief operating officer /tʃi fɒpəre t ŋ ɒf sə/ noun a director in
charge of all a company’s operations (same as a ‘managing director’). Abbreviation COO
Chief Secretary to the Treasury
/tʃi f sekrətri tə, tυ ði / noun GB a government minister responsible to the Chancellor of the Exchequer for the control of public expenditure (NOTE: In
the USA, this is the responsibility of the
Director of the Budget.)
Chinese walls / tʃa ni z wɔ lz/ plural noun imaginary barriers between departments in the same organisation, set up to avoid insider dealing or conflict of interest (as when a merchant bank is advising on a planned takeover bid, its investment department should not know that the bid is taking place, or they would advise their clients to invest in the company being taken over)
chip card / tʃ p kɑ d/ noun same as smart card
CHIPS noun the computerised clearing bank system used in the US. Full form
Clearing House Interbank Payments System
chop /tʃɒp/ noun a stamp, a mark made on a document to show that it has been agreed, acknowledged, paid, or that payment has been received
Christmas bonus / kr sməsbəυnəs/ noun an extra payment made
to staff at Christmas
chronological order
/ krɒnəlɒd$ k(ə)l ɔ də/ noun the arrangement of records such as files and invoices in order of their dates
churning
churning / tʃ% n ŋ/ noun 1. a practice employed by stockbrokers, where they buy and sell on a client’s discretionary account in order to earn their commission (the deals are frequently of no advantage to the client) 2. a practice employed by insurance salesmen where the salesman suggests that a client should change his insurance policy solely in order to earn the salesman a commission
‘…more small investors lose money through churning than almost any other abuse, yet most people have never heard of it. Churning involves brokers generating income simply by buying and selling investments on behalf of their clients. Constant and needless churning earns them hefty commissions which bites into the investment portfolio’ [Guardian]
CIB abbreviation Chartered Institute of Bankers
CIF, c.i.f. abbreviation 1. cost, insurance and freight 2. US customer identification file
circular / s% kjυlə/ adjective sent to many people noun 1. a leaflet or letter sent to many people They sent out a circular offering a 10% discount.Senior management sent out a circular to all the employees explaining the changes in the payment scheme.
2. a leaflet sent by a broker to clients, with information about companies and shares
circularise / s% kjυləra z/, circularize verb to send a circular to The committee has agreed to circularise the members of the society. They circularised all their customers with a new list of prices.
circular letter / s% kjυlə letə/ noun a letter sent to many people
circular letter of credit / s% kjυləletər əv kred t/ noun a letter of credit
sent to all branches of the bank which issues it
circulate / s% kjυle t/ verb 1. to circulate freely (of money) to move about without restriction by the government 2. to send or to give out without restrictions to circulate money to issue money, to make money available to the public and industry 3. to send information to They circulated a new list of prices to all their customers. They circulated information about job vacancies to all colleges in the area.
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civil law |
circulating capital / s% kjυle t ŋ
k p t(ə)l/ noun capital in the form of cash or debtors, raw materials, finished products and work in progress which a company requires to carry on its business
circulation / s% kjυ le ʃ(ə)n/ noun movement to put money into circulation to issue new notes to business and the public The amount of money in circulation increased more than was expected.
circulation of capital / s% kjυ-
le ʃ(ə)n əv k p t(ə)l/ noun a movement of capital from one investment to another
circumstances / s% kəmst ns z/ plural noun a general situation, especially insofar as it influences what a person can do or the way in which something happens. financial
Citizens Advice Bureau
/ s t z(ə)nz əd va s bjυərəυ/ noun an office where people can go to get free advice on legal and administrative problems. Abbreviation CAB
city / s t / noun 1. a large town The largest cities in Europe are linked by hourly flights. 2. the City (of London) the old centre of London, where banks and large companies have their main offices; the British financial centre
He works in the City or He is in the City. they say in the City that the company has been sold the London business world is saying that the company has been sold
City analyst / s ti nəl st/ noun a person who studies the London stock market
City desk / s ti desk/ noun the department in a British newspaper which deals with business news
City editor / s ti ed tə/ noun the business and finance editor of a British newspaper
civil / s v(ə)l/ adjective referring to ordinary people
civil action / s v(ə)l kʃən/ noun a court case brought by a person or a company against someone who has done them wrong
civil law / s v(ə)l lɔ / noun laws relating to people’s rights and to agreements between individuals
civil servant
civil servant / s v(ə)l s% vənt/ noun a person who works in the civil service
civil service / s v(ə)l s% v s/ noun the organisation and personnel which administer a country You have to pass an examination to get a job in the civil service or to get a civil service job.
claim /kle m/ noun 1. an act of asking for something that you feel you have a right to the union put in a 6% wage claim the union asked for a 6% increase in wages for its members 2. an act of stating that something is a fact Her claim that she had been authorised to take the money was demonstrably false.
3. an act of asking for money from an insurance company when something you insured against has taken place to put in a claim to ask the insurance company officially to pay damages to put in a claim for repairs to the car She put in a claim for £250,000 damages against the driver of the other car. to settle a claim to agree to pay what is asked for The insurance company refused to settle his claim for storm damage. verb 1. to ask for money, especially from an insurance company
He claimed £100,000 damages against the cleaning firm. She claimed for repairs to the car against her insurance policy. 2. to say that you have a right to something or that something is your property He is claiming possession of the house. No one claimed the umbrella found in my office. 3. to state that something is a fact He claims he never received the goods. She claims that the shares are her property.
claimant / kle mənt/ noun a person who makes a claim against someone in the civil courts (NOTE: This term has
now replaced plaintiff. The other side in a case is the defendant.)
claim back / kle m b k/ verb to ask for money to be paid back
claimer / kle mə/ noun same as claimant
claim form / kle m fɔ m/ noun a form which has to be filled in when making an insurance claim
claims department / kle mz d -
pɑ tmənt/ noun a department of an insurance company which deals with claims
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clean bill of lading |
|
claims |
manager |
/ kle mz |
m n d$ə/ noun the manager of a claims department
claims reserve / kle mz r z% v/ noun money set aside by an insurance company to meet costs of claims incurred but not yet settled
class /klɑ s/ noun 1. a category or group into which things are classified 2. US a type of common stock (NOTE:
Class A stock is similar to the British A shares.)
classified advertisements
/ kl s fa d əd v% t smənts/, classified ads / kl s fa d dz/ plural noun
advertisements listed in a newspaper under special headings such as ‘property for sale’ or ‘jobs wanted’ Look in the small ads to see if anyone has a filing cabinet for sale.
classified directory / kl s fa d da rekt(ə)ri/ noun a list of businesses grouped under various headings such as computer shops or newsagents
classify / kl s fa / verb to put into classes or categories according to specific characteristics (NOTE: classifies –
classifying – classified)
clause noun /klɔ z/ a section of a contract There are ten clauses in the contract of employment. There is a clause in this contract concerning the employer’s right to dismiss an employee. According to clause six, payments will not be due until next year. verb to list details of the relevant parties to a bill of exchange
claw back / klɔ b k/ verb to take back money which has been allocated
Income tax claws back 25% of pensions paid out by the government. Of the £1m allocated to the project, the government clawed back £100,000 in taxes.
clawback / klɔ b k/ noun 1. money taken back, especially money taken back by the government from grants or tax concessions which had previously been made 2. the allocation of new shares to existing shareholders, so as to maintain the value of their holdings
clean /kli n/ adjective with no problems or no record of offences
clean bill of lading / kli n b l əvle d ŋ/ noun a bill of lading with no note to say the shipment is faulty or damaged
clean float |
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clean float / kli n fləυt/ noun an act of floating a currency freely on the international markets, without any interference from the government
clear /kl ə/ adjective (of a period of time) free, total three clear days three whole working days Allow three clear days for the cheque to be paid into your account. verb 1. to sell something cheaply in order to get rid of stock
‘Demonstration models to clear’ 2. to clear goods through customs to have all documentation passed by customs so that goods can enter or leave the country
clearance / kl ərəns/ noun to effect customs clearance to clear goods through customs
clearance certificate / kl ərəns sə-
t f kət/ noun a document showing that goods have been passed by customs
clearance sale / kl ərəns se l/ noun a sale of items at low prices to get rid of stock
cleared date / kl ə d de t/ noun a date on which a cheque has cleared and funds have been removed from the account
clearing / kl ər ŋ/ noun 1. clearing of goods through customs passing of goods through customs 2. an act of passing of a cheque through the banking system, transferring money from one account to another
clearing bank / kl ər ŋ b ŋk/ noun a bank which clears cheques, especially one of the major British High Street banks, specialising in normal banking business for ordinary customers, such as loans, cheques, overdrafts and inter- est-bearing deposits
clearing house / kl ər ŋ haυs/ noun a central office where clearing banks exchange cheques, or where stock exchange or commodity exchange transactions are settled
Clearing House Automated Payments System / kl ər ŋ haυsɔ təme t d pe mənts s stəm/ noun
a computerised system which is organised by the banks and used for clearing cheques. Abbreviation CHAPS
clearing house funds / kl ər ŋ haυs f ndz/ plural noun funds which are in the process of passing through the clearing house system
clearing member / kl ər ŋ membə/ noun a member firm of a stock exchange which is also a member of the stock exchange clearing house
clear off / kl ər ɒf/ verb to clear off a debt to pay all of a debt
clear profit /kl ə prɒf t/ noun profit after all expenses have been paid We made $6,000 clear profit on the deal.
clear title /kl ə ta t(ə)l/ noun title to property without any charges or other encumbrances
clerical error / kler k(ə)l erə/ noun a mistake made by someone doing office work
clerical work / kler k(ə)l w% k/ noun work done in an office
clerical worker / kler k(ə)l w% kə/ noun a person who works in an office
clerk /klɑ k/ noun a person who works in an office
clicks-and-mortar / kl ks ənmɔ tə/ adjective conducting business both through e-commerce and also in the traditional way in buildings such as shops and warehouses. Compare
bricks-and-mortar
‘…there may be a silver lining for ‘clicks-and-mortar’ stores that have both an online and a high street presence. Many of these are accepting returns of goods purchased online at their traditional stores. This is a service that may make them more popular as consumers become more experienced online shoppers’ [Financial Times]
client / kla ənt/ noun a person with whom business is done or who pays for a service One of our major clients has defaulted on her payments.
clientele / kli ɒn tel/ noun all the clients of a business or all the customers of a shop
clients’ account / kla ənts ə kaυnt/ noun an account with a bank for clients of a solicitor
climb /kla m/ verb to go up The company has climbed to No. 1 position in the market. Profits climbed rapidly as the new management cut costs.
close noun /kləυz/ the end of a day’s trading on the Stock Exchange At the
close shares had fallen 20%. adjective /kləυs/ close to very near, almost
The company was close to bank-
ruptcy. We are close to meeting our sales targets. verb /kləυz/ 1. to
close company
close a position to arrange your affairs so that you no longer have any liability to pay (e.g. by selling all your securities or when a purchaser of a futures contract takes on a sales contract for the same amount to offset the risk) to close the accounts to come to the end of an accounting period and make up the profit and loss account 2. to bring something to an end she closed his building society account she took all the money out and stopped using the account 3. the shares closed at $15 at the end of the day’s trading the price of the shares was $15
close company / kləυs k mp(ə)ni/ noun a privately owned company controlled by a few shareholders (in the UK, less than five) where the public may own a small number of the shares
(NOTE: The US term is close corporation or closed corporation.)
closed /kləυzd/ adjective 1. not open for business, or not doing business
The office is closed on Mondays. These warehouses are usually closed to the public. All the banks are closed on Christmas Day. 2. restricted
closed economy /kləυzd kɒnəmi/ noun a type of economy where trade and financial dealings are tightly controlled by the government
closed-end mortgage / kləυzd end mɔ d$/ noun a mortgage where the borrower cannot use the property as security for other borrowings, such as a second mortgage, and cannot repay the mortgage early either
closed fund /kləυzd f nd/ noun a fund, such as an investment trust, where the investor buys shares in the trust and receives dividends (as opposed to an open-ended trust, such as a unit trust, where the investor buys units, and his investment is used to purchase further securities for the trust)
closed market /kləυzd mɑ k t/ noun a market where a supplier deals only with one agent or distributor and does not supply any others direct They signed a closed-market agreement with an Egyptian company.
close down / kləυz daυn/ verb 1. to shut a shop, factory or service for a long period or for ever The company is closing down its London office. The
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accident closed down the station for a period. 2. (of a shop, factory or service) to stop doing business or operating
‘…the best thing would be to have a few more plants close down and bring supply more in line with current demand’ [Fortune]
closed shop /kləυzd ʃɒp/ noun a system where a company agrees to employ only union members for specific jobs The union is asking the management to agree to a closed shop.
COMMENT: Closed shops are illegal in many countries.
close-ended / kləυs end d/, closed-end / kləυzd end/ adjective re-
ferring to an investment which has a fixed capital, such as an investment trust
closely held / kləυsli held/ adjective referring to shares in a company which are controlled by only a few shareholders
close off / kləυz ɒf/ verb to come to the end of an accounting period and make up the profit and loss account
close out / kləυz aυt/ verb to end a futures contract by selling the relevant commodity or financial instrument
closing / kləυz ŋ/ adjective 1. final or coming at the end 2. at the end of an accounting period At the end of the quarter the bookkeeper has to calculate the closing balance. noun 1. the closing of an account the act of stopping supply to a customer on credit 2. the action of finalising a deal
closing bell / kləυz ŋ bel/ noun a bell which is rung when a Stock Exchange closes for business
closing bid / kləυz ŋ b d/ noun the last bid at an auction, the bid which is successful
closing costs / kləυz ŋ kɒsts/ plural noun US the costs involved in finalising a deal, especially a mortgage or other bank loan
closing date / kləυz ŋ de t/ noun the last date The closing date for tenders to be received is May 1st.
closing-down sale / kləυz ŋ daυnse l/ noun the sale of goods when a shop is closing for ever
closing out / kləυz ŋ aυt/ noun the ending of a futures contract by selling the relevant commodity