Glossary of Terms

Fair Market Value	The price at which a business passes from a willing seller to a willing buyer. It is assumed that both buyer and seller are rational and have a reasonable knowledge of relevant facts.
Fiduciary	A position of trust (e.g. broker to principal).
Finders Fee	Fee to broker for arranging loan for client; can also mean fee to broker for locating a property for client.
Fixed Interest Rate	An interest rate which does not fluctuate with general market conditions.
Free Cash Flow	Cash available for distribution after taxes but before the effects of financing. Calculated as net income plus depreciation less expenditures required for working capital and capital items adjusted to remove effects of financing.