=B=

Bad delivery: A situation in which an invalid transaction has taken place as a result of faulty documentation and good title of ownership is not transferred. Bad delivery occurs where documents are not genuine, or where they are damaged or where the coupons attached to a bond or share certificate are not in order.

Balance: The net difference outstanding or to the credit of an account after all debits and credits have been accounted for.

Bank: A financial Institution which receives deposits from customers handles heir financial transactions and lends or invests the fund deposited with it.

Bench Mark: 1 A known point of reference against which characteristics may be measured. 2 A selected job against which others may be assessed.

Dictionary of Business Terms

=A=

Account: 1 To record financial transactions. 2 A statement showing amounts due from one party to another. 3 (On the Stock Exchange) the period between one settlement date and the next. 4 A customer or client. 5 An area of business assigned to an advertising agency by a customer.

Advance: 1 A sum of money lent in the form of a bank overdraft or simply a loan. 2 A part-payment for goods or services before the formal commencement or completion of the terms of a contract. 3 A part-payment to the supplier of goods upon receipt of the invoice or bill of lading, possibly before receipt of the goods.

Artisan: 1 One skilled in an industrial art; a craftsman or mechanic.