DUE DILIGENCE Definition

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DUE DILIGENCE usually refers to an internal audit of a target firm by an acquiring firm.

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LOAN COVENANT is a legally enforceable promise or restriction in a mortgage. For example, the borrower may covenant to keep the property in good repair and adequately insured against fire and other casualties. A breach of covenant in a mortgage usually creates a default, defined by the mortgage, and can be the basis for foreclosure.

STAFF MANAGEMENT is the function of managing all employees in the organization, including the development of staff skills through training and other forms of staff development as well as the identification, development and implementation of training needs and programs available for staff. Employees include permanent, temporary, and part-time employees, people working under scholarships, traineeships, apprenticeships and similar relationships.

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