Dictionary of third edition A & C Black London Phần 10 pdf

it is now not as vulnerable as other markets’

[Money Observer]

underrate /
ndəret/ verb to value

someone or something less highly than

they should be
Do not underrate the

strength of the competition in the Euro- pean market.
The power of the yen is

underrated.

underreact /
ndərikt/ verb not to

react strongly enough to a situation

The markets underreacted to the oil

crisis.

undersell /
ndəsel/ verb to sell

more cheaply than someone
to under- sell a competitor the company is

never undersold no other company

sells goods as cheaply as this one

undersigned /
ndəsand/ noun a person who has signed a letter we, the

undersigned we, the people who have

signed below

underspend /
ndəspend/ verb to

spend less than you should have spent or

were allowed to spend he has

underspent his budget he has spent

less than was allowed in the budget

understanding /
ndəstndŋ/

noun a private agreement
to come to

an understanding about the divisions of

the market

understate /
ndəstet/ verb to

make something seem less than it really

is
The company accounts understate

the real profit.

undersubscribed /
ndəsb- skrabd/ adjective referring to a share

issue where applications are not made

for all the shares on offer, and part of the

issue remains with the underwriters

undertake /
ndətek/ verb to agree

to do something
They are undertaki

We asked the research unit to undertake

an investigation of the market.
They

have undertaken not to sell into our ter- ritory.
The union has undertaken not

to call a strike without further negotia- tion with the management. (NOTE: un￾dertaking – undertook –

undertaken)

undertaking /ndə
tekŋ/ noun 1.

a business
He is the MD of a large

commercial undertaking. 2. a promise,

especially a legally binding one
They

have given us a written undertaking not

to sell their products in competition with

ours.

undervaluation /
ndəvljυ- eʃ(ə)n/ noun the state of being valued,

or the act of valuing something, at less

than the true worth

undervalued /
ndəvljud/

adjective not valued highly enough

The dollar is undervalued on the for- eign exchanges.
The properties are

undervalued on the company’s balance

sheet.

‘…in terms of purchasing power, the dollar is

considerably undervalued, while the US trade

deficit is declining month by month’

[Financial Weekly]

underwater /
ndəwɔtə/ adjective

which has lost value

underwater loan /
ndəwɔtə

ləυn/ noun a loan which is worth less

than its book value, as when an item

bought with a loan loses its value on the

market

underwater option /
ndəwɔtə

ɒpʃən/ noun an option which has no

value

underweight /
ndəwet/ adjective

not heavy enough the pack is twenty

grams underweight the pack weighs

twenty grams less than it should

underwrite /
ndərat/ verb 1. to ac￾cept responsibility for something to

underwrite a share issue to guarantee

that a share issue will be sold by agree￾ing to buy all shares which are not sub￾scribed
The issue was underwritten by

three underwriting companies. 2. to in- sure, to cover a risk
to underwrite an

insurance policy 3. to agree to pay for

costs
The government has underwrit- ten the development costs of the project.

(NOTE: underwriting – underwrote –

has underwritten)

‘…under the new program, mortgage brokers

are allowed to underwrite mortgages and get a

much higher fee’ [Forbes Magazine]

underwriter /ndəratə/ noun a per- son or company that underwrites a share

issue or an insurance

COMMENT: When a major company flota￾tion or share issue or loan is prepared, a

group of companies (such as merchant

banks) will form a syndicate to underwrite

the flotation: the syndicate will be orga￾nized by the ‘lead underwriter’, together

with a group of main underwriters; these

in turn will ask others (‘sub-underwriters’)

to share in the underwriting.

underrate 365 underwriter

underwriting /ndəratŋ/ noun the

action of guaranteeing to purchase

shares in a new issue if no one pur- chases them

underwriting fee /ndəratŋ fi/

noun a fee paid by a company to the un- derwriters for guaranteeing the purchase

of new shares in that company

underwriting syndicate

/ndəratŋ
sndkət/ noun a group

of underwriters who insure a large risk

undischarged bankrupt

/
ndstʃɑd$d bŋkrpt/ noun a person who has been declared bankrupt

and has not been released from that state

undistributed profit

/
ndstrbjutd prɒft/ noun a profit

which has not been distributed as divi- dends to shareholders

unearned income /
n%nd nkm/

noun same as investment income

uneconomic /
nikənɒmk/

adjective which does not make a com￾mercial profit it is an uneconomic

proposition it will not be commercially

profitable

uneconomic rent /
nikənɒmk

rent/ noun a rent which is not enough

to cover costs

unemployed /
nmplɔd/ adjective

not having any paid work noun the

unemployed the people without any

jobs

unemployment /
nmplɔmənt/

noun the state of not having any work

‘…tax advantages directed toward small

businesses will help create jobs and reduce the

unemployment rate’ [Toronto Star]

unemployment benefit /
nm- plɔmənt
benft/ noun a payment

from the government made to someone

who is unemployed (NOTE: The US

term is unemployment compensa￾tion.)

unemployment pay /
nm- plɔmənt pe/ noun money given by

the government to someone who is

unemployed

unemployment rate /
nm- plɔmənt ret/ noun the number of

people out of work, shown as a percent- age of the total number of people avail- able for work. Also called rate of

unemployment

unencumbered /
nnkmbəd/ ad￾jective referring to property which is not

mortgaged

unfair competition /
nfeə

kɒmpətʃ(ə)n/ noun the practice

of trying to do better than another

company by using techniques such as

importing foreign goods at very low

prices or by wrongly criticising a com- petitor’s products

unfavourable /nfev(ə)rəb(ə)l/

adjective not favourable (NOTE: The US

spelling is unfavorable.) unfavour- able balance of trade a situation where

a country imports more than it exports unfavourable exchange rate an ex- change rate which gives an amount of

foreign currency for the home currency

which is not good for trade
The unfa- vourable exchange rate hit the country’s

exports.

unfulfilled orders /
nfυlfld

ɔdəz/ plural noun orders received in

the past and not yet supplied

ungeared /nəd/ adjective with no

borrowings

uniform business rate /
junfɔm

bzns ret/ noun a tax levied on busi￾ness property which is the same percent￾age for the whole country. Abbreviation

UBR

unincorporated /
nnkɔpəretd/

adjective referring to a business which

has not been made into a company (i.e.

which is operating as a partnership or a

sole trader)

unissued capital /nʃud kptl/

noun capital which a company is

authorised to issue but has not issued as

shares

unit /junt/ noun 1. a single product

for sale 2. a single share in a unit trust

unitary regulator /
junt(ə)ri

rejυletə/ noun a single regulator,

where before there were several

Unitas index an index of prices on

the Helsinki Stock Exchange

unit cost /junt kɒst/ noun the cost

of one item, i.e. the total product costs

divided by the number of units produced

United Nations /ju
natd

neʃ(ə)nz/ noun an organisation which

links almost all the countries of the

world to promote good relations be- tween them

underwriting 366 United Nations

unitise /juntaz/, unitize verb to

form investments into units which are

sold to the public

unit-linked insurance /
junt

lŋkd nʃυərəns/ noun an insurance

policy which is linked to the security of

units in a unit trust or fund

unit of account /
junt əv əkaυnt/

noun a standard unit used in financial

transactions among members of a group,

such as SDRs in the IMF

unit price /junt pras/ noun the

price of one item

unit trust /junt trst/ noun an or- ganisation which takes money from

small investors and invests it in stocks

and shares for them under a trust deed,

the investment being in the form of

shares (or units) in the trust (NOTE: The

US term is mutual fund.)

COMMENT: Unit trusts have to be author￾ised by the Department of Trade and In￾dustry before they can offer units for sale

to the public, although unauthorised pri￾vate unit trusts exist.

unlawful /nlɔf(ə)l/ adjective

against the law, not legal

unlimited /nlmtd/ adjective with

no limits
The bank offered him unlim￾ited credit.

unlimited liability /n
lmtd
laə- blti/ noun a situation where a sole

trader or each partner is responsible for

all a firm’s debts with no limit on the

amount each may have to pay

unlisted company /n
lstd

kmp(ə)ni/ noun a company whose

shares are not listed on the stock

exchange

unlisted securities /n
lstd s- kjυərtiz/ plural noun shares which are

not listed on the Stock Exchange

Unlisted Securities Market /n-
lstd skjυərtiz
mɑkt/ noun

formerly, the market for buying and

selling shares which were not listed on

the main Stock Exchange, now replaced

by the Alternative Investment Market

(AIM). Abbreviation USM

unload /nləυd/ verb 1. to take goods

off a ship, lorry etc.
The ship is un- loading at Hamburg.
We need a

fork-lift truck to unload the lorry.
We

unloaded the spare parts at Lagos.

There are no unloading facilities for

container ships. 2. to sell shares which

do not seem attractive
We tried to un- load our shareholding as soon as the

company published its accounts.

unlock /nlɒk/ verb to unlock

value to sell undervalued assets and so

increase the value of a company to its

shareholders

unpaid /nped/ adjective not paid

unpaid balance /n
ped bləns/

noun a balance of a loan or invoice

which still has to be paid after a part

payment or instalment payment has

been made

unpaid cheque /n
ped tʃek/

noun a cheque which has been depos- ited but which is bounced by the bank

on which it is written, so the account of

the person who should receive is not

credited

unpaid invoices /n
ped nvɔsz/

plural noun invoices which have not

been paid

unprofitable /nprɒftəb(ə)l/ ad￾jective not profitable

‘…the airline has already eliminated a number

of unprofitable flights’ [Duns Business Month]

unquoted shares /
nkwəυtd

ʃeəz/ plural noun shares which have no

Stock Exchange quotation

unrealised /nrəlazd/, unrealized

adjective not sold to make a profit

unrealised capital gain /n-
rəlazd
kpt(ə)l en/ noun an investment which is showing a profit

but has not been sold

unrealised profit /n
rəlazd

prɒft/ noun same as paper profit

unredeemed pledge /
nrdimd

pled$/ noun a pledge which the bor- rower has not claimed back because he

has not paid back his loan

unregistered /nred$stəd/ adjec￾tive referring to a company which has

not been registered

unsecured creditor /
nskjυəd

kredtə/ noun a creditor who is owed

money, but has no security from the

debtor for the debt

unsecured debt /
nskjυəd det/

noun a debt which is not guaranteed by

a charge on assets or by any collateral

unsecured loan /
nskjυəd ləυn/

noun a loan made with no security

unitise 367 unsecured loan