What is a Non-Client Order? A non-client order is an order on an exchange made by a participant firm on behalf of itself or a partner, officer, director, or employee of the firm. A participant firm entitled to trade on an exchange is known as a member firm. Most securities exchanges restrict a participant firm
What Is a Non-Commercial Trader? A non-commercial trader is defined by the Commodity Futures Trading Commission (CFTC) as someone who has no business activities related to a particular commodity in which they might have a position in the futures or options markets. In other words, non-commercial traders are not looking to take delivery of a
What Is a Non-Compete Agreement? A non-compete agreement is a legal agreement or clause in a contract specifying that an employee must not enter into competition with an employer after the employment period is over. These agreements also prohibit the employee from revealing proprietary information or secrets to any other parties during or after employment.
What Is a Non-Competitive Tender? A non-competitive tender is an offer to buy United States Treasury securities that is made by non-institutional investors. These smaller investors do not participate in a formal auction for the securities but instead accept the market price set by other participants. By contrast, competitive tender offers are those made by
What Is a Non-Contestability Clause? A non-contestability clause, also known as an incontestability or no-contest clause, is a provision in a person’s will that threatens to redistribute inheritance if beneficiaries contest the will. The goal is that such a stipulation will dissuade a less-favored child or heir to challenge a will in court, and to minimize
What Are Non-Core Assets? Non-core assets are assets that are either not essential or simply no longer used in a company’s business operations. Non-core assets are often sold when a company needs to raise cash. Some businesses sell their non-core assets in order to pay down debt. Although non-core assets are not critical to a
What Is a Non-Core Item? A non-core item is an engagement considered to be outside of business activities or operations that are the main revenue source of the business. Non-core items are considered to be peripheral or incidental activities, while core items are considered central to operations. Often, businesses will outsource non-core items to firms
What Are Noncredit Services? The term noncredit services refers to fee-based services provided by financial institutions to their customers that don’t involve the extension of credit. Banks and other institutions provide noncredit services to both individual and commercial clients. Some of these services include bank accounts, asset management services, payroll processing, merchant services, and underwriting.
What Is Noncumulative? The term “noncumulative” describes a type of preferred stock that does not pay stockholders any unpaid or omitted dividends. Preferred stock shares are issued with pre-established dividend rates, which may either be stated as a dollar amount or as a percentage of the par value. If the corporation chooses not to pay
What Are Noncurrent Liabilities? Noncurrent liabilities, also called long-term liabilities or long-term debts, are long-term financial obligations listed on a company’s balance sheet. These liabilities have obligations that become due beyond twelve months in the future, as opposed to current liabilities which are short-term debts with maturity dates within the following twelve month period. Key
