Jargon beginning with: t

Target: Trans-European Automated Real-Time Gross-Settlement Express Transfer - the wholesale same-day payment system for euros operated by the European Central Bank.

Tariff: Duty or tax payable on imports.

Tenor: The term at which funds are payable, for example under Bills of Exchange. Commonly used tenors are 30, 60, 90, 180 days etc.

TESSA: Tax Exempt Special Savings Account. A British savings product enabling private investors to save money free of income tax on the interest it earned. TESSAs ceased to be available in April 1999.

Tested Telex: A form of coded telex message used between banks to ensure security and veracity of its content. Formerly extensively used for confirming payment details, tested telexes have been widely superceded by SWIFT.

Through Bill of Lading: A Bill of Lading covering an entire shipment from start to finish even though Transhipment may take place en route.

Tied Aid: Aid funding, guarantees, loans or export credits which can only be utilized in relation to exports of goods, equipment or services purchased from the country providing the aid.

Tier 1 capital: Tier 1 capital is the main capital of a bank. Also referred to as "core capital" it includes common stock and retained earnings.

TIR: Transport International Routier a system for sealed road transport of goods used throughout Europe.

Tolerance: Applied to quantities, qualities and prices of goods to allow for a given measure of under or over shipment. Thus, for example, a 10% tolerance by weight allowed in a contract of sale relating to a particular bulk cargo, allows for the quantity shipped to be 10% more or less that that agreed.

Tolling: A charge paid to a facility for using it, road tolls being the most common. The term is also applied to use of production facilities, mining operations and other productive plants handling or processing raw materials.

Tombstone: A form of publicity, usually shown in the financial press, which sets out the highlights of a financing which has been arranged in the capital markets. Tombstones usually show the clients, the arranger or agent bank and the lenders or funding providers which were involved in the transaction.

Tranche: A discreet sum of money, often part of a larger loan or payment.

Transfer Risk: The risk that funds cannot be transferred or paid from a particular territory usually because of political circumstances or lack of foreign exchange.

Transhipment: The process of moving goods from one vessel to another or from one means of transport to another.

Transition Period: Beginning 1st January 1999 and ending 31st December 2001 during which in - countries prepared to substitute the Euro for their domestic currencies.