A trade term requiring the seller to deliver goods at his or her own place of business. All other transportation costs and risks are assumed by the buyer. |||Contracts involving international transportation often contain abbreviated trade terms that outline matters such as the time and place of delivery and payment, the time when the risk of loss shifts from the seller to the buyer, and the party who pays the costs of freight and insurance. The most commonly known trade terms are Incoterms, which are published by the International Chamber of Commerce. These are often identical in form to domestic terms, such as the American Uniform Commercial Code, but have different meanings. As a result, parties to a contract must expressly indicate the governing law of their terms. It's important to realize that because this is a legal term, its exact definition is complicated and differs by country. It is suggested that you contact an international trade lawyer before using any trade term.
The successor to the European Monetary System (EMS), the combination of European Union member states into a cohesive economic system, most notably represented with the adoption of the euro as the national currency of participating members. |||The EMU's succession over the EMS occurred through a three phase process, with the third and final phase initiating the adoption of the euro currency in place of former national currencies. This has been completed by all initial EU members except for the United Kingdom and Denmark, who have opted out of adopting the euro.
The European Currency Unit (ECU) was the precursor to the Euro, the shared single currency of the European Union's member countries. While the Euro is the actual currency of the European Union, the ECU was artificial currency developed by the initial EU member states for their internal accounting purposes. |||The ECU was first adopted in 1979 by the European Economic Community, the predecessor of the European Union. In 1999, the ECU was replaced by the Euro, at parity.
The act that regulates the collection of credit information and access to your credit report. It was passed in 1970 to ensure fairness, accuracy and privacy of the personal information contained in the files of the credit reporting agencies. It requires that any person or entity requesting your report must demonstrate a permissible purpose for the information before it is released. It also designates the Federal Trade Commission (FTC) as the enforcement authority for the provisions of the act. |||Under this act, you have the right to: Know what’s in your file. Free file disclosure once per year from each of the major credit bureaus. Ask for your credit score (there may be a fee). Verify accuracy of report when required for employment purposes. Notification if your file has been used against you. Dispute and correct information that is incomplete or inaccurate. Remove outdated, negative information (seven-years old or 10 years in the case of bankruptcy).
A U.S. resolution passed in 2003 that is aimed at enhancing protection measures for identity theft by creating standards for the handling of credit card numbers. This act allows individuals free access to their own credit reports and has created a nationwide alerts system. This act is an amendment to the existing Fair Credit Reporting Act. |||With the passing of FACTA, people are now allowed to request their credit reports free, once per year, from all three of the major credit reporting agencies (Equifax, Experion and Transunion). Not only were requirements placed on mortgage lenders to release consumer information regarding credit scores and factors influencing the price of a mortgage loan, but standards also were put into place that require lenders and regulators to be more proactive in spotting identity theft before it occurs by looking for suspicious patterns.
A standard that was developed to improve the way in which financial data is communicated, making it easier to compile and share this data. XBRL is a type of XML (extensible markup language), which is a specification that is used for organizing and defining data. XBRL uses tags to identify each piece of financial data, which then allows it to be used programmatically by an XBRL-compatible program. |||Imagine that you are looking at a company's financial statements online on the company's website. Traditionally, these statements would simply be in plain text. If you wanted to put these numbers into a spreadsheet file to run analysis on the statements, you would have to either manually type or copy and paste each account and corresponding number into the spreadsheet. However, if the data on the site was available in XBRL, you could simply convert this data from the website into a spreadsheet program (usually instantaneously) that is XBRL compatible.Due to the standardized nature of the identification tags and the language itself, financial data from one country, which has set accounting standards such as U.S. GAAP, can be easily compiled into the accepted accounting standards of another country even if they are drastically different. The reporting of financial data in XBRL is not required by all companies, but because it has become prevalent, it has been suggested that it won't be long before all companies will have to report their financial data in this language.
A total value that a bank is exposed to at the time of default. Each underlying exposure that a bank has is given an EAD value and is identified within the bank's internal system. Using the internal ratings board (IRB) approach, financial institutions will often use their own risk management default models to calculate their respective EAD systems. |||Exposure at default - along with loss given default (LGD) and probability of default (PD) - is used to calculate the credit risk capital of financial institutions. The expected loss that will arise at default is often measured over one year. The calculation of EAD is done by multiplying each credit obligation by an appropriate percentage. Each percentage used coincides with the specifics of each respective credit obligation.
A type of moving average that is similar to a simple moving average, except that more weight is given to the latest data. The exponential moving average is also known as "exponentially weighted moving average". Watch: Simple Vs. Exponential Moving Averages |||This type of moving average reacts faster to recent price changes than a simple moving average. The 12- and 26-day EMAs are the most popular short-term averages, and they are used to create indicators like the moving average convergence divergence (MACD) and the percentage price oscillator (PPO). In general, the 50- and 200-day EMAs are used as signals of long-term trends.
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