Saturday 22 September 2012

Glossary Of Small Business Terms part 19


FOIA Freedom of Informaton Act. The FOIA, enacted in 1966, generally provides that any person has a right of access to federal agency records. This right of access is enforceable in court except for those records that are protected from disclosure by the nine exemptions to the FOIA, which are discussed in the text.

FOIA Online Library FOIA Library Online compendium of documents that will save you the time and effort of requesting it/them through channels.

FORECLOSURE The act by the mortgagee or trustee upon default, in the payment of interest or principal of a mortgage of enforcing payment of the debt by selling the underlying security.

FORMS IRS Internal Revenue Service (IRS) Forms

FORMS SBA and forms related to Small Business Several application forms are maintained on our site some are fillable and printable online.

FRANCHISE REGISTRY SBA’s Franchise Registry is a good example of helping small businesses owners through cooperation between government and industry. The dedicated efforts of SBA employees, franchisees, franchisors, and lenders have led to streamlined eligibility guidelines and operating procedures that will reduce costs and processing time and help SBA serve its customers better.

FRANCHISING A continuing relationship in which the franchisor provides a licensed privilege to the franchisee to do business, and offers assistance in organizing, training, merchandising, marketing and managing in return for a consideration. Franchising is a form of business by which the owner (franchisor) of a product, service or method obtains distribution through affiliated dealers(franchisees). The product, method or service being marketed is usually identified by the franchisor's brand name, and the holder of the privilege (franchisee) is often given exclusive access to a defined geographical area.

FREEDOM OF INFORMATION ACT FOIA The FOIA, enacted in 1966, generally provides that any person has a right of access to federal agency records. This right of access is enforceable in court except for those records that are protected from disclosure by the nine exemptions to the FOIA, which are discussed in the text.

FULL AND OPEN COMPETITION With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.

GDP Gross Domestic Product The most comprehensive single measure of aggregate economic output. Represents the market value of the total output of the goods and services produced by a nation's economy.



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