What is an Option Premium? Option Premium is the value that the writer of an option receives from an investor purchasing the option contract.  How Does an Option Premium Work? An option sets a price (strike price) at which the option holder can either purchase or sell and referenced security. The ability to force this transaction has value, known as...

What is No-Par Value Capital Stock? No Par Value stocks are issued without a par value mentioned either on the share certificate or in the issuer company's prospectus. There is no minimum baseline for determining the value of such stocks, the prices are determined by the amounts the investors are willing to pay. How Does No Par Value Stock Work? Com...

What is Proration in a Merger and Acquisition? A proration is the act of dividing or distributing an item in a proportionate manner. In corporate governance, proration occurs during a takeover or acquisition, It is the proportional distribution of cash and stock of the company. Usually, an acquisition or takeover comprises of a combination of cash a...

What is a Guaranteed Interest Certificate? A guaranteed investment (interest) certificate is a low-risk type of investment with an assured interest rate. These types of deposits are often issued by banks and trust companies in Canada. Since GICs are low-risk products, they are more likely to have lower returns than mutual funds, bonds, and even stoc...

What is the Customs Cooperation Council Nomenclature? The Customs Cooperation Council Nomenclature (CCCN) is a customs tariff classification system for imported goods. It refers to a standardized method of classifying imported goods in order to determine duties or tariffs placed on them.  CCCN name was changed to Brussels Tariff Nomenclature in 1976...

What is an Associate In Marine Insurance Management? The Associate in Marine Insurance Management is a professional designation from the Insurance Institute of America awarded to marine insurance professionals. The AMIM program provides further training in issues and regulations that focuses on marine insurance. The program concentrates on requireme...

What is Conflict Theory? Conflict theory argues that society, individuals, and groups within social confines interact with one another not on the basis of consensus but on conflict. More specifically, it claims that the society is consistently in a state of conflict, especially when there is unequal distribution of resources or competition for the a...

What is Stare Decisis? Stare decisis is a lawful rule that asks courts to take inspiration from previous cases while judging a case of a similar nature. This doctrine makes sure that cases having the same facts and circumstances are handled in a similar manner. In simpler terms, it makes courts obligatory to consider lawful precedents set by jurys d...

B1 Visa Extension: What You Need to Know The B-1 Visa is a visitor’s visa. It was created for individuals participating in a commercial or professional business activity within the United States. While it generally does not allow for the visitor to work within the country, there are some options in this regard. The B-1 Visa holder can request a work...

What is Dollarize? Most countries have different currencies, but not all. Sometimes small economies use an economically larger neighbor's currency. For example, Ecuador, El Salvador, and Panama have decided to dollarize—that is, to use the U.S. dollar as their currency. Sometimes nations share a common currency. A large-scale example of a common cur...