What Is a Business Day? Is Saturday a Business Day? A business day typically refers to any day in which normal business operations are conducted. In Western countries, this is generally considered to be Monday through Friday from 9 a.m. to 5 p.m. local time and excludes weekends and public […]
Legal Terms
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What Is a Proxy Vote? A proxy vote is a ballot cast by a delegate or representative on behalf of the original vote-holder known as the principal. A representative or firm can cast a proxy vote on behalf of the original vote-holder or principal. The principal is often a shareholder […]
SBLC – What Is a Standby Letter of Credit? SBLC (Standby Letter of Credit) is a bank guarantee to pay a specific amount of money to a seller if the buyer defaults on the agreement. A standby letter of credit is a legal guarantee by a bank on behalf of […]
What Are Vendors? Vendors are retailers and suppliers contributing goods or services to the next link in economic production or a supply chain. Vendors make goods and services available to companies or consumers within a supply chain. The term vendor is typically used to describe the company that provides and […]
What Is a Private Activity Bond (PAB)? A PAB or Private Activity Bonds are issued by local governments to attract private investments for projects with public or common utility. Private activity bonds (PAB) are tax-exempt bonds issued by or on behalf of a local or state government. There are strict […]
What Is Limited Power of Attorney (LPOA)? A limited power of attorney (LPOA) legally appoints an agent to handle specific matters when the principal is unavailable or unable to do so. For stock traders and brokers, it is an authorization that permits a portfolio manager to perform specific functions on […]