Glossary

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There are currently 15 names in this directory beginning with the letter A.
A1 use
A1 use - Retail sale of goods other than hot food

A2 use
A2 Use - Financial and Professional Services

A3 use
A3 Use - Food and Drink

Administration
Administration - a person or company appointed by a debenture holder, director or creditor to manage a company out of insolvency and continue as a going concern.

Aged Debtors
Aged Debtors - A report of all the unpaid invoices owed by debtors and when they are due for payment.

Alternative Lender
Alternative Lender - An alternative to a high street lender, that provides business finance. Alternative lenders typically act faster and have a less stringent criteria to lending than a high street lender.

Anchor Tenant
Anchor Tenant - The tenant that provides the greatest attraction in a development, such as a supermarket or large high street retailer.

Application for payment
Application for payment - Relating to construction finance - the application by a contractor or subcontractor for payment materials used and work done in accordance to the construction contract.

Architect Certificate
Architects Certificate - Certificate from a firm of architects confirming the value of the work carried out to date and the amount due for payment at any given time. The Quantity Surveyor usually provides the amount.

Article 4 Direction
Article 4 Directon - An order made by a local planning authority to remove certain permitted development rights in all, or part of, its area.

Asset Finance
Asset Finance - A high value equipment such as machinery or vehicle is purchased by a finance company and leases (rents) it to a business to operate their business for a fixed amount over the life span of the equipment.  The amount is usually paid monthly and consists of the capital cost of the asset plus interest.

Assignment of lease
Assignment of lease - The lease contract held by a lessee or tenant is transferred to another party.

Assured Shorthold Tenancy (AST)
Assured Shorthold Tenancy (AST) - In England and Wales - a residential tenancy contract between landlord and tenant that usually lasts for 6 or 12 months. The landlord reserves the right to take possession of the property at the end of the tenancy subject to two months notice, unless a new agreement is made.

Average Daily Rate
Average Daily Rate (ADR) – is predominantly used in the hotel industry measuring average daily revenue per occupied room for any given time.

AVMs
Automated Valuation Model (AVM) - An automated system, using algorithms and market data to value properties without physically being on site. Used typically by lenders to reduce the cost and speed up the mortgage application process.