A letter of approval written to a bank by a parent company on behalf of a subsidiary company which needs financial backing.

A document in which an individual, company, etc., guarantees to protect another from costs, liability, etc., as a result of certain actions which may be carried out.

Debts which are owed to someone, obligations or responsibilities which are legally binding.

A legal right to take and keep another persons property until a debt has been paid by the property owner.

Also called Mortality Tables. Tables which show peoples life expectancy, depending on their age, lifestyle, etc., often used by insurance companies.

An emergency loan offered to a company or bank which is in financial trouble.

A sudden strike by workers, with little or no warning. These strikes are often short in duration and usually without official union backing.

In the UK, a company that has a name ending in ‘Ltd.’ The owners of these companies have limited liability if the company gets into debt.

In law, the owners and/or shareholders of a limited company only lose the amount they have invested if the company gets into debt.

The most important person or thing in a business or organisation.