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Fiduciary Responsibility
A legal obligation where one party (like a financial advisor) must act in the best interests of another (like a client), prioritizing their financial well-being.
Economic Diversification Paths
Different strategies that economies adopt to achieve a more balanced and resilient structure.
Service Level
Agreed-upon standards or performance indicators that define the quality and responsiveness of a service.
Supportive Private Sector Participation (PSP) Projects
include the proposed Private Sector Participation (PSP) Projects that, when implemented, would achieve part of the PSP Plan objectives and the failure to do so, would not compromise the PSP Plan objectives.
Recovery Rate
The percentage of the initial investment that is expected to be recovered by investors in the event of a default. It's an important consideration when assessing credit risk.
Average Cost
The total cost of production of a commodity incurred by a firm during a period divided by the number of its units of output.
Benchmarking
The process of measuring the performance of products, services, or enterprise operations compared to other organizations in the same field.
Limited Competition
An invitation to a limited number of contractors and suppliers to do the required work for the government entity.
Disbursements to Date
Disbursements on program/project from its establishment until the date of the report or a specific period within the current fiscal year.
Trade Balance
The difference between the value of exports and imports over a specific period of time.
Quick Ratio (Acid-Test Ratio)
A financial ratio that measures a company's short-term liquidity by assessing its ability to cover immediate obligations using its most liquid assets.
Basis Point
A single basis point, often referred to as "bp," is a one-hundredth of a percentage point (0.01%). It's used to express small changes in interest rates or yields.
Capital Structure
The strategic and balanced mix of different financing sources that a company uses to finance its operations and achieve growth.
Statement of Qualifications (SOQ)
A statement submitted by the bidder to the Contracting Authority in response to a Request for Qualifications for a Private Sector Participation (PSP) Project.
Reverse Charge Mechanism
The mechanism by which the taxable customer is obligated to pay the tax due on be- half of the supplier, and he is also responsible for all the obligations provided for in the agreement (the Unified Agreement for VAT of the GCC) and the local VAT law and its applicable regulation.
Zakat Return
A form prepared by the Zakat, Tax and Customs Authority, containing a number of elements and items, which must be completed and submitted by each taxpayer. The purpose of the declaration and its submission is to indicate the establishment's zakat base and enable the Authority to make the assessment in accordance with the declaration data.
Royal Order
An official document that expresses the King's direct and unilateral will. It is considered the strongest and highest regulatory instrument in the Kingdom. Royal decrees are issued in a specific format bearing the King's signature in his capacity as Head of State, not merely as Prime Minister. This occurs in matters that have not been presented to the Council of Ministers or the Shura Council.
Unemployment
Unemployment occurs when a person who is actively searching for employment is unable to find work. It is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate, which is the number of unemployed persons divided by the number of people in the labor force.
Contract Classification
Contract classification registered on the Etimad platform is based on its type, whether it is supply, general construction, operations and maintenance, or consulting and technical services. Contracts are also classified according to the contracting procedures followed in competitions, such as public tender, direct purchase, limited competition, and electronic reverse auction.
Exchange Market
The Primary Exchange or Alternative Trading System including where the context permits any committee, sub-committee, employee, officer, affiliate or agent to whom any function of the Exchange may for the time being be delegated, and "on Exchange" means any activity taking place through or by the facilities provided by the Exchange.
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