Glossary
Welcome to SFNet's Secured Finance Glossary of industry terms. Currently the SFNet Glossary has over 400 industry terms and definitions. You can search specific terms in the search tool above, or use the alpha tool below and progress on the paginations.
Non-Sufficient Funds (NSF) 
Is the status of an account that does not have enough funds to cover the transaction.
Notice Filing
Information an investment advisor registered with the Securities Exchange Commission may be required by law to submit to state securities authorities.
Notice of Sale
The notice which a secured party must give in most cases before foreclosure sale of collateral.
Obsolete Inventory
Is a term that refers to inventory that is at the end of its product life cycle. This inventory has not been used or sold for a long period of time and is not expected to be sold in the future. This inventory has to be written down.
Off-Site Inventory
Inventory that is not stored at the owner's facilities and instead somewhere else. The inventory could be Consigned to another party or stored at a third party facility.
Offset
When customer A purchases something from customer B and customer B purchases something from customer A. The balances are subtracted from (offset against) the other, leaving only the net difference to be paid. Sometimes called a "contra relationship."
Open Market Sale
The sale of goods and services are governed by forces of supply and demand.
Operating Lease
Is a contract that allows the use of an asset, but does not give rights of ownership of the asset, for a particular period which is shorter than the economic life of the asset.
