Extension

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Extension

Voluntary arrangements to restructure a firm's debt, under which the payment date is postponed.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Extension

1. In options, the expiration date. Occasionally the parties to an option contract will agree to extend the expiration to a certain date in the future.

2. In taxes, the day that one must file one's return if one asked the tax agency for more time to do it. For example, in the United States the deadline to file tax returns is 15 April. If a taxpayer is unable to make this deadline, he/she may ask the IRS for an extension until 15 October. In this case, 15 October is the extension date.

3. In an offer for bids on a contract, the date to which a deadline is lengthened. If there is either a lack of interest or no good bids on a contract, the company or government offering it may extend the deadline to allow other companies to decide whether to make a bid. This second deadline is the extension date.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

extension

An agreement to defer the time for doing an act or for termination of a lease.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Extension

A provision thta allows additional time to perform an act required by the tax law or by regulation. The term is used most often when referring to an extension to file the tax return, but it also applies to extensions for making available elections.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
Besides the new long-distance extension cables, ShowMeCables also carries a wide variety of shorter-range extension cables, as well as a number of other USB products, including adapters, extenders, and hubs and switches.
Andrew Robb, fire safety enforcement officer with North Wales Fire and Rescue Service said: "The owners had just turned on the fridge that day after it had been off for a week and they were using a homemade extension cable.
During these visits almost 500 smoke alarms, 177 additional long life batteries, nearly 200 fused extension cables, 62 thermostatically controlled deep fat fryers, eight domestic fire blankets and five domestic fire extinguishers have been fitted.
Q ARE long electrical extension cables safe to use in the garden?