Windfall

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

With Profits

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

Without Prejudice

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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

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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

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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

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

Working Capital

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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

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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

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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.