Glossary

Warehouse

A place approved by HM Revenue & Customs for the storage of goods without the payment of certain duties or taxes which would normally be due on those goods. The main types of warehouse are Customs warehouses, excise warehouses and Customs and excise warehouses.

Warehoused goods

Goods placed under the HM Revenue & Customs warehousing arrangements.

Warranty

In insurance, a condition which goes with a policy and must be strictly complied with for a claim to be paid under the policy.

Warranty

A promise made in a contract which is less than a condition. Unlike failure of a condition, failure of a warranty will result in liability to pay damages but will not breach the contract.

Waste Electrical and Electronic Equipment Regulations  (WEEE)

The WEEE Regulations aim to increase the amount of WEEE that is recovered and recycled. They place responsibilities on equipment producers, importers, distributors, retailers and users.

Waste exemption

Certain waste activities do not require an environmental permit or waste management licence, but still need to be registered under a waste exemption from the Environment Agency, Northern Ireland Environment Agency or Scottish Environment Protection Agency. This includes some treatment, recovery and recycling activities.

Waste minimisation

Waste minimisation is the reduction of waste at source.

Wide area network  (WAN)

A network that spans a large geographical distance. Increasingly it may be made up of cable, satellite and microwave technologies.

Winding-up

Formal procedure for disbanding a company. This may be undertaken voluntarily by the members where a company no longer has any purpose. However, this commonly happens when the company is insolvent.

Wireless application protocol  (WAP)

A carrier-independent, transaction-oriented protocol for wireless data networks that allows internet access over wireless devices such as mobile phones.

Wireless fidelity  (Wi-Fi)

A high frequency, wireless, local area network (LAN) that operates over a short distance.

Wireless LAN

Wireless local area network - a local network that allows devices to connect to each other using radio wave technology rather than conventional cabling or fibre optics.

Without prejudice

Term used in negotiations over disputes where an offer is made in an attempt to avoid going to court. If the case does go to court no offer or facts stated to be 'without prejudice' can be disclosed as evidence. This is often misused by businesses during negotiations when they actually mean subject to contract.

Work Related Upper Limb Disorders  (WRULD)

WRULDs are problems with the shoulder and arm (including the forearm, elbow, wrist, hand and finger). WRULDs can also include neck pain. Problems include tenderness, aches, pains, stiffness, weakness, tingling, numbness, cramp or swelling. They are caused by a variety of work tasks, eg forceful or repetitive activities or poor posture.

Working capital

The amount of capital or current assets available for use in operating the business. Commonly calculated as the amount by which current assets exceed current liabilities.

Working Tax Credit

Support provided for employees on a low income. It is paid directly to claimants by HM Revenue & Customs.

Workplace Exposure Limit  (WEL)

WELs are established by the Health & Safety Commission and are intended to prevent excessive exposure to specified hazardous substances by containing exposure below a set limit. They can be found in the publication EH40, which is revised and published yearly.

World Trade Organisation  (WTO)

Inter-governmental organisation set up in 1995 to negotiate and administer trade agreements, handle trade disputes and monitor national trade policies.

Worm

Similar to viruses but they do not need a carrier program or document. They typically spread themselves without any action by a computer user. Worms simply create exact copies of themselves and travel between connected computers by exploiting security 'holes' in the computer's operating system. As the worm spreads, it can create a lot of traffic on the internet, slow down communications or cause computers to crash. A worm may carry a virus, but it more commonly causes computer tasks to slow down or completely halt.