• A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • L
  • M
  • N
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  • P
  • R
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A

Accelerator is a special circuit board that usually plugs into an expansion slot to make a computer work faster. An example is a graphics accelerator that will speed up the time it takes to display images on the monitor.

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B

Base station (also called a cell site) is the tower and radio antenna, transmitter and other equipment that are used to communicate with mobile phones. A mobile network is made up of many base stations.

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C

Call barring is a facility on a mobile phone that restricts outgoing or incoming calls, including whether the phone can make and receive international calls.

Call charges refers to the cost of individual calls made on a phone service. The call cost will depend on the time of day that you make a call and on the distance between you and the caller.

Call plans are provided by mobile phone service providers and explain how phone calls will be charged and any additional charges that are payable. Each mobile phone service provider will have a selection of call plans from which to choose.

Call credits is the value on a recharge card that can be used up in making mobile phone calls. It's normally used for pre-paid mobile phone services.

Carriage service providers are organisations that can sell access to a mobile phone network.

Carrier is the owner of a mobile phone infrastructure or network.

Commission is the amount of money or percentage that is payable to an agent for their services.

Compliance plate is a metal plate that is permanently attached to and identifies a vehicle. The compliance plate will contain information on the make, model and the VIN (Vehicle identification number)/chassis number. The plate is usually fitted to the vehicle's engine bay.

Condition report is part of the residential tenancy agreement (lease) that records the condition of a place and any furniture that you are renting both at the start of the tenancy and again at the end of the tenancy. A copy of the condition report is kept by the landlord/agent and another by the tenant(s).

Coverage area refers to the geographical area that is covered by a mobile phone network.

Coverage maps are provided by mobile phone network providers and show you the geographical area that is covered by their network. These maps won't show black spots or shadows where your mobile phone will not receive a good signal.

Cover note refers to an immediate insurance cover that can be taken out over the phone. The cover will usually last from 10-30 days depending on the insurer. It gives you time to receive the insurance policy proposal in the mail and make the premium payment if you decide to take up the insurance.

Comprehensive car insurance covers damage to your car, damage to other people's cars and property as well as damage to your car caused by fire, or the car's theft.

Composite insurance policy is the type of insurance that licensed car dealers can take out to cover the cars that they have for sale. It's comprehensive insurance that will cover damage to the cars and other property in an accident and will cover you if you take a test drive. However, if you have an accident on a test drive that is your fault you will be asked to pay the excess.

Consumer credit insurance covers situations where you cannot meet your loan repayments due to unemployment, sickness, injury, disability or death. In these situations the insurance will cover some of the loan repayments.

Credit rating refers to any adverse listing that a credit reporting agency may have put on your file. An adverse listing can happen if you stop making your loan repayments and the lender reports this fact to the credit reporting agency.

CTP or Compulsory third party insurance must be paid before you can register a vehicle and provides compensation for other people injured by your vehicle when you or the person driving the vehicle is the driver at fault in an accident.

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D

Default rate of interest is interest that is charged on payments that are in arrears. In these situations you are charged additional interest on the outstanding arrears balance as well as the regular interest charges for the debt.

Default notice is the written notice that a lender will send a borrower, guarantor or mortgagor before they take legal action to recover a debt.

Debt is the total amount that you must pay back to a lender. It will depend on the amount you borrowed, the interest rate charged and the length of time that you borrowed the money.

Depreciation is the decrease in value of a thing due to age, wear and tear, decay or decline.

Dropped calls refer to a call that is lost due to a weak phone signal.

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E

Encumbered means that a lender has registered an interest against an item such as a car when it has been used as security for a loan. The interest is an indication that the lender has taken the car as security for the loan.

Enforcement in relation to credit matters means that the lender can take certain actions against you to recover a debt. These actions may include repossession and sale of mortgaged goods and court action. Court action can result in the seizure and sale of your assets, you being forced into bankruptcy or your wages and/or bank account being garnisheed. Garnisheeing is where part of your salary or bank account balance is taken and sent to the lender.

Extended warranty is a contractual warranty available through some sellers. It extends the warranty cover over a new item, or can create a warranty for a used item that is purchased from that seller. Read the policy carefully, as conditions will apply.

Exceptions are exclusions or conditions where you will not be covered by an insurance policy and any claim that you make will not be paid.

Excess is the amount of money that you will have to pay when making a claim on an insurance policy.

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F

Fit for the purpose refers to the ability of an item that you have purchased to do the job that it's supposed to do. It is one of the implied conditions in a sale contract.

Flag charge is a fee that mobile phone service providers can charge for each call that you make. It's an additional charge on top of the call charges.

Flat spots are areas in a mobile phone network where the signal is weak and the phone may not be able to work.

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G

Guarantor is a person that signs a guarantee with a lender and promises to repay a borrower's loan if the borrower can't or won't.

Garnishee is where a notice is sent to your employer or bank that forces them to a send part of your salary or savings to the lender.

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H

Handset refers to a portable phone or a mobile phone.

Hardware is the collective name for the physical components of a computer. Examples of hardware are the RAM (random access memory), hard drive and CPU (central processing unit).

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I

Implied conditions of a sale contract include that goods sold are of merchantable quality, fit for the purpose and match a description or sample. See also statutory warranty.

Internet service providers are organisations that sell you the right to use their computers to gain access to the Internet.

Insurance involves the payment of money (a premium) to cover loss or damage to specified items that may occur in certain circumstances.

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L

Lease is a type of finance where the lender continues to own the item but the person leasing has possession of it for the term of the lease. At the end of the lease term the item is returned to the lender.

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M

Merchantable quality refers to a basic level of quality and performance that is expected in a product considering its price and description. It is one of the implied conditions in a sale contract.

Minimum mobile phone package costs do not include actual phone call costs. It only includes the cost of the handset (if one is included in the package), the initial connection fee and access charges for the term of the contract.

Monthly access charge is the fixed amount that is charged by a mobile phone service provider to allow you to use the mobile phone network.

Mortgaged property is where property is security for a loan.

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N

Network connection agreement is the contract that you enter with a mobile phone service provider to gain access to their phone network for a set period of time.

Network supported feature is a feature of a mobile phone that requires activation through a call plan. These features will incur a cost each time they are used.

Notice of Particulars, each used car sold by a Licensed Motor Car Trader (LMCT) must have a Notice of Particulars attached tot he windscreen telling you the make, model of the vehicle, the current price and odometer reading and the previous owner.

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O

Odometer is a measuring instrument that records the distance travelled by a motor vehicle.

Off peak times refers to the least busy times in the day when mobile phone network providers will charge you less for calls that you make.

Operating system (OS) is software that is found in all computers. The most common is Windows 95/98. The OS is loaded into the RAM from the hard drive when you turn the computer on and it allows you to use the computer.

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P

Peak times refers to the busiest time in the day when mobile phone network providers will charge you more for calls that you make (compared to call costs during off peak times).

Peripherals are devices that attach to a computer and transfer information into or out of the computer. Examples are scanners, digital cameras and printers.

Premium is the amount of money that you will need to pay to an insurance company in exchange for insurance cover. It's the cost of insurance.

Pixel is a dot making up part of an image on a computer monitor or on paper.

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R

RAM or Random Access Memory is a computer's working memory. It is the area where information and software are stored and used when you use a computer.

Recharge cards are plastic cards that contain an amount of call credits that you can use up making mobile phone calls.

Repossession is where a lender will take property that has been taken as security for a loan. This will generally happen when the borrower has stopped repaying the debt (making payments). The lender can sell the property and the money obtained from the sale used to repay or reduce the debt.

Residential tenancy agreement (or lease) is a legally binding agreement between the tenant(s) and the landlord(s). It sets out the rights and responsibilities of both the tenant and the landlord.

REVS stands for the Register of Encumbered Vehicles. It's a service provided by the Office of Fair Trading that maintains information on cars and boats that have interests registered against them (encumbered vehicles/boats).

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S

Sale contract is entered into every time that you buy a good or a service.

SIM stands for subscriber identity module. It's a smart card capable of storing and transferring information and is needed to allow a mobile phone to work.

Shareware refers to software that is offered on a trial basis and may be missing features of the retail version. If you decide to use it regularly then you are asked to send payment to the authors.

Software are programs or series of instructions that tells the computer how to do certain things. Examples of software are games, the operating system, word processing and spreadsheet packages.

Stamp duty is a type of tax that is imposed on certain transactions.

Stand-by time is the amount of time that a battery can power a mobile phone that is switched on but is not being used to make or receive any calls.

Starter kits refer to the packages provided by mobile phone network providers that allow access to the mobile phone network. They are used when you pre-pay for the phone service.

Statutory warranty is a warranty provided by law. One example is the merchantable quality condition that requires that goods will do the job they are supposed to do. If they don't then the buyer is entitled to return them to the seller to get a refund. Other statutory warranties such as motor vehicle warranties are more specific.

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T

Talk time is the amount of time that a battery can power a mobile phone for calls before it needs recharging.

Tenancy is where a person (the tenant) lives in the house or flat of another person (the landlord) for a period of time in exchange for rent.

Third-line forcing is where a business refuses to sell a product or service unless you also buy another product or service from a separate business.

Third party property car insurance covers you for any damage that your car causes to other people's cars and property but not any damage sustained to your car.

Third party, fire and theft car insurance covers damage that your car causes to other people's property but doesn't cover damage sustained to your car. It does cover the loss or damage to your car that is caused by theft or fire.

Transfer of Tenants Form (Victoria) This form is available from the Residential Tenancies Bond Authority (RTBA) and must be completed each time the names of the tenants shown on the tenancy agreement change.

Transport Accident Charge(TAC) This is the compulsory third party insurance which is paid when you register a vehicle in Victoria. It provides compensation for other people injured by your vehicle when the driver is at fault.

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V

Vehicle Securities Register (VSR) This is a service provided by VicRoads that maintains information on cars. The VSR can tell you if there are any interests registered against them such as outstanding loans or debts.

VIN (vehicle identification number) is the number and accompanying letters or symbols that are affixed to a motor vehicle. This number will usually also be stamped on the compliance plate.

Voicemail is an automated answering system that plays a greeting and records incoming messages.

Voluntary Warranty (also called a manufacturer's warranty or guarantee) is in addition to the statutory warranty and is usually more extensive than the statutory warranty. Some voluntary warranties are given unconditionally while others may be subject to time limits or conditions such as regular servicing. If the item develops problems during the warranty period you should take it back to the seller and depending on the nature of the problem and the terms and conditions of the warranty, you may be entitled to a repair, replacement or refund.

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