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Freight Forwarder
An agent responsible for transporting cargo on behalf of the cargo’s owner, from when the goods are picked up from the seller to when they are delivered to the buyer’s specified location.
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Frictionless Market
A financial market that has
no transaction costs.
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Fringe Benefit
Benefit offered to employees
other than salary (e.g., insurance, employee
discounts, tuition assistance).
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Front-End Loading
The inclusion of higher prices
for goods or services delivered first in contract
performance, with lower-than-normal prices
included for the goods or services delivered
later. See also: Unbalanced Bid.
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FTC
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FTZ
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Full and Open Competition
The process by which
two or more suppliers attempt to secure the
business of a third party by offering the most
favorable price, quality, delivery terms, and
service. The concept of competition presumes
the existence of a marketplace in which there
is more than one supplier that can provide
similar goods and/or services.
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Full Employment
The lowest rate of
unemployment compatible with price stability,
variously estimated to be between 4%
and 6%.
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Full Warranty
A warranty as to full performance
covering both labor and material; the
warrantor must remedy the product within a
reasonable time and without charge after
notice of a defect or malfunction.
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Full-Time Equivalent Position (FTE)
The baseline
of an FTE is a full-time position. All part-time
positions are converted to the decimal
equivalent of a full-time position based on
2,080 hours per year.
