Business glossary

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Waiver of premium - A provision of an insurance policy that suspends payment of premiums, for example, if the insured suffers disabling injury.

Wallet technology - A software package providing digital wallets or purses on the computers of merchants and customers to facilitate payment by digital cash.

Wall Street - The U.S. financial industry, or the area of New York City where much of its business is done.

Warehouse Receipt - A receipt issued by a warehouse listing the goods received.

Warrant - An option issued by a company that allows the holder to purchase equity from the company at a predetermined price prior to an expiration date. Warrants are frequently attached to Eurobonds. Business glossary.

Waste management - A sustainable process for reducing the environmental impact of the disposal of all types of materials used by businesses.

Weak Form Efficient Market - It is a market in which prices fully reflect the information in past prices.

Wealth - Physical assets such as a house or financial assets such as stocks and shares that can yield an income for their holder.

Web marketing - The process of creating, developing, and enhancing a Web site in order to increase the number of visits by potential customers.

Weight Note - A document issued by either the exporter or a third party declaring the weight of goods in a consignment.

Weighted Average Cost of Capital (WACC) - A discount rate that reflects the after-tax required returns on debt and equity capital. Business glossary.

Whistleblowing - Speaking out to the media or the public on malpractice, misconduct, corruption, or mismanagement witnessed in an organization.

Wholesale price - A price charged to customers who buy large quantities of an item for resale in smaller quantities to others.

Wholesaling - Businesses and individuals engaged in the activity of selling products to retailers, organizational users or other wholesalers. Selling for resale.

Withholding tax - The money that an employer pays directly to the U.S. government as a payment of the income tax on the employee.

Working capital - The excess of current assets over current liabilities. The cash needed to keep the business running from day to day.

World Customs Organization (WCO) - The WCO is an international organization whose function is the facilitation of trade between member states through the simplification and standardization of customs practices. The WCO was established in 1952 as the Customs Co-operation Council. This name was then changed in 1994 to the World Customs Organization. Today WCO provides regulations and standards to 169 Customs administrations worldwide. Business glossary.

World Trade Organization (WTO) - The WTO is a multilateral organization that promotes free and fair trade among the nations of the world. It was created in 1994 by 121 nations at the Uruguay Round of the General Agreement on Tariffs and Trade (GATT). The WTO is responsible for implementation and administration of the trade agreement.

Writ - A judicial order to an officer of the law, such as a judge or a sheriff, to perform or have performed a specified act.

WTO Committee on Trade and Development (CTD) - The WTO Committee on Trade and Development is a forum for discussion on all multi-interest issues of special interest to developing countries.