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Bank Investment Contract

A bank-issued contract guaranteeing a specific portfolio a specific yield for a certain period of time. This contract usually has a maturity ranging from one to ten years. It is a low-risk, low-yield investment made mostly by corporations carrying 401(k) or profit-sharing plans. See also: Guaranteed Investment Contract.

Business Interruption Insurance

An insurance policy that provides coverage in case some event causes a business to relocate or temporarily close. For example, if an office floods and becomes unusable, business interruption insurance will replace the profits the company would have made during the time it is closed and also will cover its operating expenses. It is also called business income coverage.
References in periodicals archive ?
On one end of the BIC Cristal Stylus is a medium ballpoint pen available in black ink and, on the other, is a stylus designed specifically for precision use on your smartphones and tablets.
The BIC's chief executive Paul McEldon added: "The BIC recently celebrated its 20th anniversary, during which time it has continued to go from strength to strength.
During the past 10 years, the BIC has accomplished many achievements through organising the Bahrain Formula One race and other motor races," he said.
Sarah, 28, worked on the national PR campaign for the digital switchover before joining the BIC team.
Senior executive service and general officer leaders from the Services and the OSD meet two hours weekly in preparation for the quarterly BIC meetings, chaired by the Under Secretary of Defense for Acquisition, Technology, and Logistics and including the Service Secretaries, Vice Chairman of the Joint Chiefs of Staff, and Under Secretaries of Defense for Comptroller and Personnel and Readiness.
BICs provide a one-stop location for information, education, workshops, and training designed to address a broad variety of business start-up and development issues.
Twin Towns' have become Sister Cities but remain an interest of a special BIC sub-committee.
The changes with respect to BICs and the aggregation of IRAs and self directed accounts become effective on Dec.
The BIC National Day Festival will offer a wide range of family entertainment activities, including interactive games, a shopping area and food stalls.
He said, KFH-Bahrain's support for BIC over the years has contributed towards making Bahrain an international centre for motorsports events.
Serving the needs of SMEs, the BIC has been the location of choice for established and aspiring businesses for 20 years.
Under the agreement, AJM Kooheji and LG will get co-branding and promotional opportunities at BIC events, activities and roadshows, reported the Gulf Daily News, our sister publication.