provision

(redirected from self-provisioning)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

provision

A term which, as used in UK medical practice, corresponds to one or more legal conditions/provisos written into a contract or financial arrangement, when a particular type of expense is anticipated but its actual and final cost is uncertain—e.g., clinical negligence liability.

Provisions are included in contracts to comply with the accounting principle of prudence. An estimate of the likely expense is charged to the income and expenditure account—for the Department, to the Operating Cost Statement—as soon as the issue comes to light, even though a cash payout might not occur for many years, if at all. The expense is matched by a balance-sheet provision entry showing the potential liability to the organisation.
References in periodicals archive ?
This acquisition will enable FLEXeNET to offer services to over 150 new institutions, and will give the financial community broad access to the unique FLEXeNET self-provisioning portal and a true alternative in the trader voice market.
The response to this new feature from our partners has been very positive as they believe that with self-provisioning in their tool belt they can now easily work with hundreds if not thousands of resellers who will in turn sell encryption to their customers," said Ginsberg.
Echoworx Corporation, a provider of managed encryption services for enterprise e-mail, announced today the availability of a self-provisioning capability for its Encrypted Mail Gateway product.
MyNetonomy provides a wide range of self-provisioning and online enterprise account management capabilities that give business administrators and employees a simple, user friendly means of activating and managing their corporate and individual 3G data accounts and services.
WebVisible's Geneva software application powers the technology behind "SearchMax", which eliminates the effort of self-provisioning interactive advertising on behalf of the advertiser, and allows local businesses to advertise on WebVisible's network of over 30 search engines, including Google, Yahoo