Labor condition application (LCA), Form ETA 9035/9035E is a document that a prospective H-1B employer files with OFLC when it seeks to employ nonimmigrant workers at a specific job occupation in an area of intended employment for not more than three years. In this document, the employer attests to standards to which it will adhere. It must be certified by the authorized DOL official pursuant to the provisions of 20 C.F.R. §655.740 before it can be used.
- Browse Related Terms: Benching, Employment Authorization Document (EAD), Form ETA 9035, Form I-129, Labor Condition Application (LCA), Nonfrivolous petition, Notice, Petition, Petition package, Portability, Public access file
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Laddering is an investment strategy that calls for establishing a pattern of rolling maturity dates for a portfolio of fixed-income investments. Your portfolio might include intermediate-term bonds or certificates of deposit (CDs).
For example, instead of buying one $15,000 CD with a three-year term, you buy three $5,000 CDs maturing one year apart. As each CD comes due, you can reinvest the principal to extend the pattern.
Or, you could use the money for a preplanned purchase, have it available to take advantage of a new investment opportunity, or use it to cover unexpected expenses.
You can use laddering to pay for college expenses, with a series of zero coupon bonds coming due over four years, in time to pay tuition each year.
And if you ladder, you can avoid having to liquidate a large bond investment if you need just some of the money or reinvest your entire principal at a time when interest rates may be low.
- Browse Related Terms: Barbell strategy, bond, Bond swap, Buy-and-hold, Collateralized mortgage obligation (CMO), Fixed-income investment, Intermediate-term bond, Laddering, Market risk, Note, Reinvestment risk, Systematic risk, term, Tranche
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Same or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
- Browse Related Terms: Agreement of sale, Contract for deed, Contract of sale, Contract to purchase, Finance company, Global Debt Facility, inflation, Installment contract, Land contract, Purchase agreement, Sweat Equity
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The rent paid on leased land; same as "ground rent."
- Browse Related Terms: certificate of title, Clear Title, Encumbrance, equity, First Mortgage, Free and clear, Ground Rent, judgment, Judgment Lien, Land rent, Lien, Lien Waiver, mortgage, Subordinate Financing, Title 1, Title Search
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Refers to Section 3020 of the New York City Charter and Chapter 3 of Title 25 of the Administrative Code of the City of New York.
- Browse Related Terms: Commissioners, FHA-Insured Loan, Ginnie Mae, Government National Mortgage Association (Ginnie Mae), HUD, Landmarks Law, Office of Thrift Supervision (OTS)
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The Commission acting in its agency capacity to implement the Landmarks Law.
- Browse Related Terms: CNE, CRV, Existing windows, Landmarks Preservation Commission, LPC Staff, Notice of Compliance, Notice of Violation, Permit, Repair, Special Natural Area District
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A physical betterment of real property or any part thereof, consisting of natural or artificial landscaping, including but not limited to grade, terrace, body of water, stream, rock, hedge, plant, shrub, mature tree, path, walkway, road, plaza, wall, fence, step, fountain, or sculpture.
- Browse Related Terms: Amenity, Bracket Sign, Landscape improvement, maintenance costs, Mature tree, Occupiable space, Real property, Story, utility costs
All > Business > Finance > Insurance > Auto Insurance
Termination of a policy due to non-payment of premiums.
- Browse Related Terms: Binder, Cancellation, Declarations Page ("Dec Page"), Endorsement, Lapse, Lapsed Policy, Non-renewal, Premium Finance Company, Reinstatement, Rental Reimbursement/Transportation Expenses, Rider, Surcharge
All > Business > Finance > Insurance > Homeowners Insurance
When premium payments are in default, an insurance contract is cancelled and is said to have "lapsed."
The termination of an insurance policy because a renewal premium is not paid by the end of the grace period.
Texas Department of Insurance and Office of Public Insurance Counsel - Cite This Source - This Definition- Browse Related Terms: Binder, Cancellation, Effective date, Expiration date, Lapse, Lapsed Policy, Non-renewal, Policy period, Reinstatement, Renewal
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A lapse causes a policy, right, or privilege to end because the person or institution that would benefit fails to live up to its terms or meet its conditions.
For example, if you have a subscription right to buy additional shares of a stock at a price below the public offering price, you must generally act before a certain date. If that date passes, your right is said to lapse.
Similarly, if you have a life insurance policy that requires you to pay annual premiums, the policy will lapse and you'll no longer be covered if you fail to pay.
- Browse Related Terms: Annual renewable term insurance, Cash value, Convertible term, Council of Economic Advisors (CEA), Elimination period, Guaranteed renewable policy, Lapse, Level term insurance, Life insurance, Nonforfeiture clause, Own-occupation policy, Paid-up policy, Premium, Renewable term, Term insurance, Variable Life Insurance, Waiver of premium
All > Business > Finance > Insurance > Auto Insurance
A policy that has terminated for non-payment of premiums.
A policy that has terminated at renewal for non-payment of premium.
A policy that has terminated for non-payment of premiums.
- Browse Related Terms: Binder, Cancellation, Declarations Page ("Dec Page"), Endorsement, Lapse, Lapsed Policy, Non-renewal, Premium Finance Company, Reinstatement, Rental Reimbursement/Transportation Expenses, Rider, Surcharge
All > Business > Finance > Insurance > Homeowners Insurance
A policy that has terminated at renewal for non-payment of premium.
- Browse Related Terms: Binder, Cancellation, Effective date, Expiration date, Lapse, Lapsed Policy, Non-renewal, Policy period, Reinstatement, Renewal
All > Business > Finance > Insurance > Life Insurance
- A policy terminated at the end of the grace period because of nonpayment of premiums. (See Nonforfeiture Values.)
- Browse Related Terms: Automatic Premium Loan, dividend, Grace Period, Lapsed Policy, Level Premium Insurance, Loan Value, Non-forfeiture Values, Paid-up Insurance, Premium, Reinstatement, Settlement Option, Waiver of premium
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The stock of companies with market capitalizations of $10 billion or more is known as large-cap stock. Market capitalization is figured by multiplying the number of either the outstanding or the floating shares by the current share price.
Large-cap stock is generally considered less volatile than stock in smaller companies, in part because the bigger companies may have larger reserves to carry them through economic downturns.
However, market capitalization is always in flux. Today's large-cap stock can drop out of that category if the share price plunges either in a general market downturn or as a result of internal problems.
And the opposite is true as well. Many of the country's largest companies began life as start-ups.
- Browse Related Terms: Large-capitalization (large-cap) stock, Market capitalization, Micro-cap stock, Mid-capitalization (mid-cap) stock, Small-capitalization stock, Universe, volatility
All > Business > Banking > Offshore Banking
Any entity with gross receipts greater than $10 million during the year the reportable transaction occurs or in the preceding taxable year.
- Browse Related Terms: Abusive tax schemes, Large entity, Listed transaction, Noneconomic substance transaction, Offshore financial arrangement (OFA), Reportable transaction, Tax Benefit, Tax Haven, Tax Shelter
A fixed-weighted price index that is computed as the sum of base-period quantities valued at current-period prices divided by the sum of base-period quantities valued at base-period prices.
- Browse Related Terms: Base period, Chained-dollar estimate, Chained-type index, Current-dollar estimate, Directly priced method, Fisher ideal price index, Implicit price deflator, IPD, Laspeyres, Laspeyres price index, Paasche, Paasche price index
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The last trading day is the final day on which an order to buy or sell an options contract or futures contract can be executed.
In the case of an options contract, for example, the last trading day is usually the Friday before the third Saturday of the month in which the option expires, though a brokerage firm may set an earlier deadline for receiving orders.
If you don't act on an option you own before the final trading day, the option may simply expire, or if it is in-the-money it may be automatically executed on your behalf by your brokerage firm or the Options Clearing Corporation (OCC) unless you request that it not be.
But if a futures contract isn't offset, the contract seller is obligated to deliver the physical commodity or cash settlement to the contract buyer.
- Browse Related Terms: American-style option, Base Price, Dealer Sticker Price, European style option, Expiration cycle, Expiration date, Last trading day, Long-term equity anticipation securities (LEAPS), Options class, Options series, Quadruple witching day
The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a cardholder's account for failing to make minimum payments.
Office of the Comptroller of the Currency, U.S. Department of the Treasury - Cite This Source - This DefinitionThe fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a cardholder's account for failing to make minimum payments.
- Browse Related Terms: Annual Percentage Rate (APR), Balance Transfer, Coupon Rate, Cumulative Loss, Late Charge, Loss Severity, Principal balance, Realized Loss
All > Business > Finance > Personal Finance
The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a cardholder's account for failing to make minimum payments.
- Browse Related Terms: amortization, Asset-backed bond, Credit card account agreement, Date of maturity, Debt-to-income ratio (DTI), Deferred payment, Delinquency, Honorarium, Late Charge, Maturity Date, Payment Due Date, Prepayment, Self-amortizing loan
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A penalty imposed by the lender when a borrower fails to make a scheduled payment on time.
- Browse Related Terms: Chapter 13 Bankruptcy, Default, Delinquency, Forbearance, Fully Amortized Mortgage, Holder, Installment, Late Charge, Late Payment Charges, Payment Due Date, Prepayment penalty clause, Repayment Plan, reverse annuity mortgage, Terms
All > Business > Finance > Personal Finance > Consumer Credit > Credit Card
A late payment is your failure to make at least the minimum payment so that it reaches us by or before the time and due date on your bill.
- Browse Related Terms: Bill, Billing period, Due date, Fixed-rate APR, Grace Period, index, Late payment, Minimum interest charge, Minimum Payment, Variable-rate APR
All > Business > Real Estate
The penalty the homeowner must pay when a mortgage payment is made after the due date grace period.
- Browse Related Terms: Chapter 13 Bankruptcy, Default, Delinquency, Forbearance, Fully Amortized Mortgage, Holder, Installment, Late Charge, Late Payment Charges, Payment Due Date, Prepayment penalty clause, Repayment Plan, reverse annuity mortgage, Terms
All > Business > Finance > Personal Finance > Consumer Credit > Credit Card
A fee charged if your payment is received after the due date.
- Browse Related Terms: Annual fee, application fee, Authorized charge, Credit-limit-increase fee, Late-payment fee, Over-the-limit fee, Penalty fees, Protected balances, Returned payment, Set-up fee, Workout arrangement
All > Business > Real Estate
Thin strips of wood arranged in a netlike grid pattern, often set diagonally.
- Browse Related Terms: Brick Molding, Came, configuration, Glazing, Latticework, Leaded window, Light, Molding, Muntin, Sidelight, Skirt, Special windows
Lay off of a U.S. worker means that the employer has caused the worker's loss of employment, other than through: discharge due to inadequate performance, violation of workplace rules, or other cause related to the worker's performance or behavior on the job; voluntary departure or voluntary retirement; expiration of a grant or contract under which worker is employed where the loss of the contract or grant has caused the worker's loss of employment, and there is no practice of moving workers to other customers or projects upon the expiration of contract(s); or there is a rejection of a bona fide offer of a similar employment opportunity with the same employer.
- Browse Related Terms: Alternative employment, Area of intended employment, Commuting area, displacement, Displacement inquiry, Employ American Workers Act (EAWA), Employed, employed by the employer, or employment relationship, Employer, Exempt employee (FLSA), Exempt H-1B worker, Full-time equivalent employees, Independent authoritative source, Indicia of an employment relationship, Lay off, Secondary displacement