Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Activity Name
The name of the main activity of the competition on the basis of which the bidding will be announced by the government entity.
Debit Notice
A commercial document issued by the supplier or the seller to the buyer, as a document that proves the increase in the buyer's debt due to the seller or the supplier. It is useful for the purposes of value-added tax, and the adjustment.
Government Assets
Assets owned by governmental or public entities, including tangible assets (such as land and buildings) and intangible assets (such as intellectual property rights), which are used to achieve public goals and provide services to citizens.
Illiquid Assets
Fixed assets, financial resources which are not readily realizable, or deposits not available for withdrawal within three months or less.
Ongoing Reforms
Economic policies aimed at improving structural aspects of the economy.
Endowment Fund Assets
Assets that are managed by a third party for specific objectives, and may include both monetary and non-monetary assets.
Ordinary Course of Business
A usual activity that is normal to the day to day operations of the business. Occasional or infrequent activities do not constitute an ordinary course of business.
Tax Return
The information and data specified for tax purposes and submitted by a taxable person or a person authorized to act on his behalf for each tax period in accordance with the form prescribed by the Zakat, Tax and Customs Authority.
Peer-to-Peer Lending
A decentralized financial system where individuals lend and borrow directly from each other.
Payment Mechanism
Contractual arrangements through which the Private Party is compensated in a Public-Private Partnership (PPP) project. This mechanism outlines the timing, amount, and conditions under which payments will be made.
Compliance
To meet all commitment requirements, either mandatory requirements such as: legislation, regulations or optional requirements such as: internal policies of the entity and standards of the sector.
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