A transverse structural timber to which the bottom planking is fastened. The ends of the floor timbers are joined to the bottom of the frames. The keelson is fastened on top of the floors, and the hold ceiling is fastened to the top of the floors.
In architecture, a floor is generally the lower horizontal surface of a room (see also flooring). The various levels of rooms in a building are also called floors or stories/storeysSingular: story or storey; plural: stories or storeys, respectively. See American and British English spelling differences.: "ground floor," "first story," "mezzanine floor," etc.
The area of the legislative chamber occupied by the members and staff of the house. A legislator "has the floor" when he or she has been granted permission by the presiding officer to address the house.
Action "on the floor" is that which occurs as part of a formal session of the full Senate. An action "from the floor" is one taken by a Senator during a session of the Senate. A Senator who has been recognized to speak by the Chair is said to "have the floor."
Can refer to the House or Senate chambers. More generally, when a bill is before the entire chamber (as opposed to a committee), it is said to be on the floor. Also, when a house is in session, its members are said to be on the floor.
Figuratively, within the chamber while that chamber is in session, as in floor amendment or floor debate. Floor actions are distinguished from actions taking place elsewhere, e.g., lobbying, or committee actions.
An interest rate option which protects the holder from a decrease in interest rates. The holder, by exercising, receives a cash settlement representing the difference between the strike level and the underlying interest rate, should the latter be lower for the set period. Floors have a life of normally between two and five years. The option can be exercised at regular intervals (e.g. every 6 months) during the life of the floor. See Cap.
A contract on a short-term interest rate in which the writer of the floor pays the buyer the difference for any period prior to expiration when the rate is fixed at a level below the floor rate specified in the cap. Floor can also refer to the minimum interest rate on an adjustable-rate security or loan.
In the interest rate derivatives market, an instrument in which the buyer receives payments from the seller in the event interest rates decline below a specified level; used by the buyer as a hedge against falling interest rates. In the bond market, the floor of a floating-rate security is its minimum possible interest rate. See " Cap"
A rate option strategy that allows its holder to set a floor or minimum interest rate for his floating rate deposits over a period of time. A floor is analogous to a series of put options on interest rates protecting the buyer from interest rates falling below a specific level.
A contract whereby the seller agrees to pay to the purchaser in return for the payment of a premium, the difference between current interest rates and an agreed (strike) rate times the notional amount should interest rates fall below the agreed rate. A floor contract is effectively a string of interest rate guarantees.
The minimum rate possible on a variable-rate loan or line of credit, after any initial introductory rate period. For example, on a credit card with the Prime rate as its index, no matter how low the Prime rate drops, the rate on the line may never decrease below the stated rate floor.
The facility of an exchange where brokers engage in trading; a price established below which others are not acceptable or allowed; a minimum on the interest rate in a contract or on a market value for inventory items, and other events
An option agreement that puts a lower limit on the interest rate .It provides lenders/investors with interest rate risk protection in case the rate goes below the floor rate. The lender/investor is compensated for any fall in rate below the floor rate.
the lowest limit of performance that can be assessed or measured by an instrument or process. Individuals who perform near to or below this lower limit are said to have reached the floor, and the assessment may not be providing a valid estimate of their performance levels. Such individuals should be given a less difficult assessment of the same attribute if it is necessary to differentiate between lower levels of performance. See Ceiling, Functional-Level Testing.
A term used in the system of indicator prices. The floor is the lower limit in the price ranges established for the purpose of adjusting quotas in response to movements in prices.* See also Adjustment of quotas; Ceiling; Indicator prices; Price ranges
The opposite of ceiling, it is the lowest limit of performance that can be measured effectively by a test. Individuals are said to have reached the floor of a test when they perform at the bottom of the range in which the test can make reliable discriminations. If an individual or group scores at the floor of a test, the next lower level of the test, if available, should be administered.
An agreement that limits the holder's exposure to downward movements in the price or rate of the underlying instrument. Floors are similar to put options and are most often employed by sellers of the underlying instrument and by lenders in floating rate financing agreements. Floors are normally traded in OTC markets and can have tailored terms and conditions with performance risk assumed by the involved parties.
Of course, we know that a floor is what you stand on (or sit, or lie, or jump, or whatever you like). A floor in an inflatable boat can consist of a series of slats made of wood, aluminum, fiberglass or other composite materials.
Refers to the minimum classification number a roper must have in order to participate in a specific roping. Example: If a roping has a #6 floor, no roper who has a classification less than a #6 is eligible to compete.
A term used in the lower of cost or market (LCM) that serves as a constraint for the market value. In the LCM for inventory, the floor is the net realizable value (NRV) minus the normal profit. This means that if the replacement cost of an inventory item is less than this amount, this amount becomes the market amount that will be compared with the item's cost for valuing inventory under LCM. To learn more, see Explanation of Lower of Cost or Market To Top
An agreement with a counterparty that sets a lower limit to interest rates for the floor buyer for a stated time. A term for an exchanges trading area (cf. screen based trading), normally the trading area is referred to as a pit in the commodities and futures markets.
1) The main trading area of an exchange. 2) A supply contract between a buyer and seller of a commodity, whereby the seller is assured that he will receive at least some minimum price. This type of contract is analogous to a put option.
Rounding mode that rounds to the closest representable number in the direction of negative infinity. See also ceiling (round toward), convergent rounding, nearest (round toward), rounding, truncation, zero (round toward)
In bidding for paperback reprint or other rights to a book or manuscript, a first serious offer, generally a sum of some size that represents the least amount for which rights to the book will be sold, even though the seller will try to better it by interesting other potential buyers in the property. A floor may also be established by a seller as the price under which a book or manuscript will not be sold.
Load As commonly used, the live-weight-supporting capabilities of a floor, measured in pounds per square foot; the weight, stated in pounds per square foot, which may be safely placed on the floor of a building, if uniformly distributed.