wholesale The intermediary between manufacture and retail. Rather than sell direct to shops, restaurants and other such retail outlets, manufacturers will usually sell straight to wholesalers, who will in turn sell their stock in smaller quantities to retailers, who then sell products to the public or businesses. This is a much more efficient way of distributing goods than selling to retailers or the public, as larger amounts can be transported to the wholesaler. Large, multi-branch retailers, however, often have their own distribution centres which obviates the need for wholesalers as manufacturers can deliver directly to them.
wholesale banking The banking sector that deals with corporate and business clients, as opposed to retail banking, which deals with the general public. Whereas retail banking usually involves relatively small amounts of money for each transaction, wholesale banking tends to deal with larger amounts, as the name suggests.
wholesaler The agent involved with wholesaling, that is, buying large amounts of stock from manufacturers and selling it on in smaller amounts to retailers.
wilayat-al-istidanah The authority granted to one partner by another partner to exceed the amount of credit available to the partnership beyond the capital value of their enterprise.
woodhuaa Compulsory washing before prayer.
WIPO World Intellectual Property Organisation.
write In finance, ‘write’ means to sell an option.
write off (debt) When a lender or creditor has no realistic means of recovering a debt (for example, when a bankrupted company’s assets have all been sold off and there still remains debt to be paid), the debt is considered written off and the matter is considered closed. This is part of the credit risk a lender takes on when lending. Some debts might be recoverable through the courts or by selling items left as collateral, but once all such avenues have been exhausted, the amount of money left outstanding is effectively lost.
write-off (insurance) An insured item is considered written off when its repair cost would be greater than the cost of simply replacing it with a new (or used) equivalent.