What Is Bitumen? The term bitumen refers to a substance produced through the distillation of crude oil. Bitumen is known for its waterproofing and adhesive properties and is commonly used in the construction industry, notably for roads and highways. Production occurs through distillation, which removes lighter crude oil components like gasoline and diesel, leaving the
What Is a Big Hairy Audacious Goal (BHAG)? The term big hairy audacious goal (BHAG) refers to a clear and compelling target that an organization tries to reach. The term was coined in the book Built to Last: Successful Habits of Visionary Companies by Jim Collins and Jerry Porras. Collins and Porras commonly abbreviate it
The Canadian government boasts one of the safest, strongest, and soundest financial systems in the world. This is largely due to what it calls effective policies and regulations, including liquidity, deposit insurance, and consumer protection laws. This makes Canada an attractive place for investment, especially since the country’s banking system is one of the easiest
What Is a Bilateral Monopoly? A bilateral monopoly exists when a market has only one supplier and one buyer. The one supplier will tend to act as a monopoly power and look to charge high prices to the one buyer. The lone buyer will look towards paying a price that is as low as possible.
What is Bilateral Netting? Bilateral netting is the process of consolidating all swap agreements between two parties into one single, or master, agreement. As a result, instead of each swap agreement leading to a stream of individual payments by either party, all of the swaps are netted together so that only one net payment stream
What Is a Bilateral Tax Agreement? A bilateral tax agreement, a type of tax treaty signed by two nations, is an arrangement between jurisdictions that mitigates the problem of double taxation that can occur when tax laws consider an individual or company to be a resident of more than one country. A bilateral tax agreement
What Is Bilateral Trade? Bilateral trade is the exchange of goods between two nations promoting trade and investment. The two countries will reduce or eliminate tariffs, import quotas, export restraints, and other trade barriers to encourage trade and investment. In the United States, the Office of Bilateral Trade Affairs minimizes trade deficits through negotiating free trade
What Is Bill and Hold? A bill and hold is a type of sales arrangement that enables payment ahead of the delivery of the item. It constitutes a sales arrangement in which a seller of a product bills a customer for the product upfront but does not ship the product until a later date. For
What is Bill Announcement? Bill announcements are published by the U.S. Treasury to announce the terms of the next bill auction and must contain the date and time of the auction, as well as the amount of bills to be tendered. Key Takeaways Bill announcements are published weekly by the U.S. Treasury to announce the terms of
What Is a Billing Cycle? A billing cycle is the interval of time from the end of one billing statement date to the next billing statement date for goods or services a company provides to another company or consumer on a recurring basis. Although billing cycles are most often set on a monthly basis, they
