Various Terminologies

It is the study of terms and their use. Terms are words and compound words that are used in specific contexts. Not to be confused with “terms” in everyday usages, the shortened form of technical terms (or terms of art) which are defined within an academic system or a field of specialty. Terminology studies among other things how such terms of art come to be and their interrelationships within a culture.


  • Balance – the difference between credits and debits in an account
  • Bank charges – money paid to a bank for the bank’s services etc
  • Branch – local office or bureau of a bank
  • Check Book – book containing detachable checks; cheque book
  • Check – written order to a bank to pay the stated sum from one’s account; cheque
  • Banking” Credit – money in a bank a/c; sum added to a bank a/c; money lent by a bank also
  • Credit Card – (plastic) card from a bank authorising the purchasing of goods on credit
  • Current Account – bank a/c from which money may be drawn at any time; checking account
  • Debit – a sum deducted from a bank account, as for a cheque also
  • Deposit Account – bank a/c on which interest is paid; savings account
  • Fill in – to add written information to a document to make it complete; to fill out
  • Interest- money paid for the use of money lent – interest rate
  • Loan – money lent by a bank etc and that must be repaid with interest – also
  • Overdraft – deficit in a bank account caused by withdrawing more money than is paid in
  • Pay in – to deposit or put money in to a bank account
  • Payee – person to whom money is paid
  • Paying -in slip – small document recording money that you pay in to a bank account
  • Standing order – an instruction to a bank to make regular payments
  • Statement – a record of transactions in a bank account
  • Withdraw – To take money out of a bank account


  • Bonus – additional pay given to employee as incentive or reward
  • Curriculum vitae – short account of one’s education, career etc.
  • Dismiss – To remove or discharge from employment; to sack [colloq.]; to fire
  • Employer – person or firm who employs people
  • Fire – To dismiss
  • Interview – An oral examination of an applicant for a job
  • Make redundant – to dismiss because of not being needed
  • Maternity leave – period of absence from work (for a woman) when having a baby
  • Notice – advance warning of intention to resign .
  • Perk – perquisite; something additional to regular salary [eg: free meals; a car]
  • Personnel – The people who work for a firm .
  • Personnel officer – manager responsible for recruitment, training and welfare of personnel
  • Take on – To employ; to hire.
  • Promotion – advancement in rank or position – to promote
  • Prospects – opportunity for success, promotion etc
  • Recruit – To look for and employ personnel .
  • Resign – To give up a job – letter of resignation
  • Retire – To leave employment, esp. because of age -retirement
  • Salary – A fixed, regular payment, usually monthly, made by employe r to employee
  • Staff – The people who work for a firm or a particular department; employees


  • Bill of lading – list of goods and shipping instructions; waybill
  • Cost & freight: – cost & freight: includes shipping to named port but not insurance
  • Cost, insurance & freight – cost, insurance & freight: includes insurance and shipping to named port
  • Cargo – goods or products that are being transported or shipped
  • Certificate of origin – A document that shows where goods come from
  • Container – Huge box to hold goods for transport
  • Customs – Government tax or duty on imported goods
  • Declare – To make a statement of taxable goods – customs declaration form
  • Free alongside ship.- Free alongside ship [includes delivery to quayside but not loading
  • Free on board .- Free on board includes loading onto ship
  • Freight – Goods being transported; cargo
  • Irrevocable – That cannot be undone; unalterable – irrevocable letter of credit
  • Letter of credit – A letter from a bank authorising a person to draw money from another bank
  • Waybill – list of goods and shipping instructions; bill of lading
  • Merchandise – Things bought and sold; commodities; wares
  • Packing list – A document that is sent with goods to show that they have been checked
  • Pro forma invoice – An invoice or request for payment sent in advance of goods supplied
  • Quay – A solid, artificial landing place for (un)loading ships; wharf
  • Ship – To send or transport by land, sea or air
  • Shipping agent – A person acting for or representing a ship or ships at a port


  • After – sales service – service that continues after a product has been sold [eg: repairs etc]
  • Buyer – one person who buys anything two a person employed by a firm to buy .
  • Client – person who buys services from a lawyer, architect or other professionals
  • Close – to finalise a deal or sale; to make a sale
  • Cold call – to telephone a prospect without previous contact
  • Customer – a person who buys goods or services from a shop or business
  • Deal- a business transaction
  • Discount – a reduction in the price; a deduction [usually expressed as a percentage (%)]
  • Follow up – to continue to follow persistently; to maintain contact [eg: after a lead]
  • Guarantee – a promise that a product will be repaired or replaced etc if faulty
  • In bulk – in large quantity, usually at a lower price
  • Lead – useful indication of a possible customer to be followed up
  • Objection – a reason given by a prospect for not buying
  • Wholesale – to sell in bulk (as to a shop for resale to the public)
  • Overcome – to overcome an objection to show an objection is invalid
  • Product – something made and usually for sale – to produce
  • Prospect – a possible or probable customer; prospective customer
  • Representative – sales representative person who represents & sells for a firm; salesperson
  • Retail – to sell in small quantities (as in a shop to the public)
  • Service – work done usually in return for payment – to serve
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