What is a Restrictive Covenant? A restrictive covenant refers to a form of agreement that asks the buyer to either perform or refrain from doing a particular activity. In real estate industry, restrictive covenants tend to be binding legit obligations that a seller writes in the property's deed. They can be either very easy to understand or complica...

What is Estate Tax? An estate tax is a government levied tax on any inheritance or portion of an inheritance if its total value surpasses what is termed as tax exclusive inheritance by law. Estate taxes are mostly charged to the heirs of a deceased, but in a case where the beneficiary is a surviving spouse of the deceased, there will be no need for ...

What is payable on demand paper and payable on time paper? A negotiable instrument must either be payable on demand or payment on time. An on-time instrument is payable at a specific time and date. The date must be able to be determined at the time the instrument is issued. It may be payable after an elapsed period of time that is readily ascertaina...

What is a Key Process Input or Output variable (KPIV)? Key process input or output variable (KPIV) refers to various factors that can cause an impact during the production process. Once the key process input variables for a process are determined, statistical experiments can be designed that can reveal optimal values for each factor to achieve the d...

What is a Certified Treasury Professional (CTP)? The Certified Treasury Professional (CTP) is a professional title awarded by the Association for Financial Professionals (AFP) to individuals who exhibit competency and expertise in cash management, undergo training with the AFP, and pass an examination.   The program focuses on cash processing, treas...

What is a Duty Free Zone? The Duty Free zone is an area where products are sold without the import, sales, value-added or other taxes. These products are sold to the international travelers with an understanding that they will take these products outside of the country to use. The products are tax exempted to entice the international customers in bu...

What are some effective strategic objectives in a Negotiation?  Effective strategy and planning are the most critical precursors for achieving negotiation objectives. Remember, strategy is made up of Orientation, Objectives, and Tactics. These strategic elements are primarily objectives to be achieve through specific tactics.  When is Claiming Value...

What is a Chart of Accounts? A chart of accounts is a list of elements necessary to undertake an accounting of operations performed by a company. The list of accounts has these elements; assets, liabilities, and owners capital in addition to revenues and expenses received and incurred respectively. How is a Chart of Accounts Used?  The chart of acco...

What are the limitations on importing goods into the United States for sale? Below are the primary laws governing the importation of commercial goods. What is the The Customs Modernization Act (CMA)?  The CMA, a part of NAFTA, requires importers to declare attributes of imported goods with the Customs and Border Protection Agency (CBP). Typically, w...

What is an Associate In Insurance Accounting And Finance? The Associate in Insurance Accounting and Finance is a professional designation given to an individual who successfully completes a number of exams on insurance accounting and finance. The designation award is by the Insurance Institute of America. The program provides further training to pro...