Windfall

A sudden, unexpected sum of money or piece of good fortune received by someone.

With Profits

Describes an insurance policy which pays the sum assured plus any bonuses which may have accumulated over the term of the policy.

Without Prejudice

Written on a document in legal proceedings, negotiations, etc., meaning that any information contained in the document does not affect the legal rights of a party involved in a dispute.

Without Recourse

A legal term written on a bill of exchange which signifies that the buyer accepts the risk of non-payment from a third party, rather than the seller.

Work In Progress

Also called Work In Process. Work on a product, contract, etc., that a company has invested in but is not yet completed. A piece of music, art, etc., which is unfinished but may be available for viewing or listening.

Work Permit

A legal document which gives a person a right to employment in certain foreign countries.

Working Capital

Also known as Net Current Assets. The amount of funds which are available to a company for everyday running costs, such as wages, rent, etc.

Working Time Directive

Rules set by the European Union which limits the maximum number of hours in a working week, the minimum amount of annual leave and the minimum amount of rest period in a working day to which an employee is entitled.

World Economic Forum

WEF. Based in Geneva, Switzerland, an non-profit, international organisation which brings together politicians, business and education leaders from all over the world to discuss ways to improve economic and social growth, health and environment issues, etc.