The face to face process used by local unions and the employer to exchange their views on those matters involving
personnel policies and practices or other matters affecting the working conditions of employees in the unit and
reduced to a written binding agreement. Used also by contracting officers to reach agreement with potential
That point in negotiations where labor and management cannot come to an agreement on some or all of the issues on
the bargaining table and the services of the FMCS have not been utilized.
The sole and exclusive procedure available to all employees in a bargaining unit and the employer for processing
grievances and disputes.
Property owned (assets), minus debts and obligations owed (liabilities), is the owner's equity (net
NOTES AND ACCOUNTS
A secured or unsecured receivable evidenced by a note or open account arising from activities involving liquidation
and disposal of loan collateral.
Technically defined as "amount of orders placed, contracts awarded, services received, and similar transactions
during a given period which will require payments during the same or a future period."
Simple interest based on a year of 360 days, contrasting with exact interest having a base year of 365
Net disbursements (cash payments in excess of cash receipts) for administrative expenses and for loans and related
costs and expenses (e.g., gross disbursements for loans and expenses minus loan repayments, interest and fee income
collected, and reimbursements received for services performed for other agencies).
A legal relationship existing between two or more persons contractually associated as joint principals in a
A patent for an invention is the grant of a property right to the inventor, issued by the Patent and Trademark
Office. The term of a new patent is 20 years from the date on which the application for the patent was filed in the
United States or, in special cases, from the date an earlier related application was filed, subject to the payment
of maintenance fees. US patent grants are effective only within the US, US territories, and US