Related Words

Administrative Services Only (ASO) Contract: The contract between an employer and a third party administrator.

No Capacity To Contract: The inability of a person to enter into a valid contract under any circumstances. Such inability can arise when a person has been adjudicated insane or is an officer of a corporation who is . . . View Full Definition

Nonfinancial Services: Such things as freight, insurance, passenger services, and travel.

Office Of Federal Contract Compliance (OFCCP): Division of the Employment Standards Administration in the Department of Labor responsible for enforcing three statutes for federal contractors and subcontractors: Executive Order No. 11246, . . . View Full Definition

Nexus (Of Contracts): A set or collection of something.

Next Futures Contract: The contract settling immediately after the nearby futures contract.

Member Services: The department responsible for helping members with any problems, handling member grievances and complaints, tracking and reporting patterns of problems encountered, and enhancing the relati . . . View Full Definition

Most Distant Futures Contract: When several futures contracts are considered, the contract settling last. Related: Nearby futures contract.

Nearby Futures Contract: When several futures contracts are considered, the contract with the closest settlement date is called the nearby futures contract. The next (or the 'next out') futures contract is the one t . . . View Full Definition

Open Contracts: Contracts that have been bought or sold without completion of the transaction by subsequent sale or purchase, or by making or taking actual delivery of the financial instrument or physical commodity.