Category: L

Lloyd’s of London is copied by an organized group. It is not affiliated with Lloyd’s. Only responsible for the risk portion they choose to insure, unrelated entities congregate to collectively provide coverage.

Formal document, the signed contract, evidence a loan. Negative and positive covenants, guaranties, financial reporting requirements, applicable interest rate and fees, and how the loan will be repaid and over what period, type and value of the collateral pledged, are some of the parts and inclusions to a loan agreement.

Authorized negotiator with the underwriters at Lloyd’s. who offers prospective risks.

Document on which the lender bases the decision to lend. A loan application is neither a pledge by the applicant nor a commitment by the lender. Contains essential financial and other borrower information. Detailed business plan, 3-year and loan-life current and projected income statements showing profit and loss, balance sheet, and cash flow statement are required for a business loan. Loan amount and purpose, period and means of repayment, and guaranties and/or collateral offered are required of a company applying for a loan. Banks generally use standard forms for the applicant to fill-in for a consumer loan. Also known as credit application.

Begun in 1689 London, in Edward Lloyd’s Tavern Street coffeehouse frequented by ship-owners. Syndicate of insurance underwriters and brokers. Oldest and most famous of this type of organization. About 20,000 underwriters gather into some 280 syndicates. Each syndicate specializes in a specific type of risk. As a syndicate of syndicates, virtually any type of danger or risk is covered. Oddly enough, providing reinsurance to other insurance companies is. their main business.

Lloyd’s Register Of Shipping published annually. Data on ship surveys and classifications is verified by Lloyd’s surveyors and readily available.. The main data is (1) ship’s identification number, (2) its name, (3) official number of its register, (4) its call sign, (5) country of its registration, (6) its hull and machinery classification , (7) particulars of its gross and net tonnage, and (8) name(s) of its owner(s).

One person from this group of Lloyd’s underwriters accepts or rejects risks on the group’s behalf.

1. Force exerted overall on a structure or a body. 2. Expected amount of production from a producer. Allotted work to an individual, group, machine, or system. 3. A piece of equipment, or an entire plant’s total energy usage. 4. An energy producing system demand expectations. 5. What a transportation vehicle carries measured as weight, quantity, or nature. 6. Material’s standard volume as in produce or sand. A load is typically 40 bushels or 1.4 cubic meters in the UK; it is one cubic yard or 0.76 cubic meters in the US. 7. A transaction fee charge.

The even splitting of workload among two or more servers. The intent is to provide a certain standard of throughput for the user community while having online backup servers in case one of the servers fails. Popular websites typically have load balancing to provide quicker request response to users. Gets work accomplished faster.

1. Time-bound ratio of average energy demand versus maximum demand peak load. 2. Ratio of demonstrated machine capacity as a work center, or as a system versus service availability versus utilization. 3. In the aviation industry, load factor is the ratio of revenue passenger (or cargo ton) miles to the available seat (or cargo ton) miles.