§ 100 Declaration of public policy
§ 200 Definitions
§ 201 “Director” means the Director of the Department of Employment …
§ 202 “Benefits” means the money payments payable to an individual as …
§ 203 “Employment office” means a free public employment office or branch …
§ 204 “Employing unit” means any individual or type of organization, …
§ 205 “Employer” means: A. With respect to …
§ 205.1 Indian tribe
§ 206 Subject to the provisions of Sections 207 to 233, inclusive, and of …
§ 206.1 Employment; employee leasing company
§ 207 The term “employment” shall include an individual’s entire service, …
§ 208 Service shall be deemed to be localized within a State …
§ 208.1 A
§ 208.2 Notwithstanding the provisions of Section 207, the term “employment” …
§ 209 Services not covered under Section 207 and performed entirely without …
§ 210 Services covered by an arrangement pursuant to Section 2700 between …
§ 211 Notwithstanding any other provisions of this Act, the term …
§ 211.1 Except as provided in Section 220, the term “employment” shall …
§ 211.2 Except as provided in Section 211.3, the term “employment” shall …
§ 211.3 For the purpose of Section 211.2, the term “employment” shall not …
§ 211.4 A. Notwithstanding any other provision of this Act, the term …
§ 211.5 The term “employment” shall include domestic service after December …
§ 212 Service performed by an individual for an employing unit, whether or …
§ 212.1 Truck Owner-Operator
§ 213 Each individual performing services for, or assisting in performing …
§ 214 The term “employment” does not include agricultural or aquacultural …
§ 215 Except as provided in Section 211.5, the term “employment” shall not …
§ 216 A
§ 217 (a) The term “employment” shall not include services performed as a …
§ 217.1 Real estate transaction closing agents
§ 217.2 Real estate appraisers
§ 218 The term “employment” shall not include service performed by an …
§ 219 The term “employment” shall not include service performed in the …
§ 220 A
§ 221 The term “employment” does not include service performed in the …
§ 222 The term “employment” shall not include service with respect to which …
§ 223 The term “employment” shall not include service performed in any …
§ 224 The term “employment” shall not include service performed in the …
§ 225 This Section, and not Section 212 of this Act, controls the …
§ 226 The term “employment” shall not include services performed in …
§ 227 The term “employment” shall not include service performed after 1971 …
§ 228 The term “employment” shall not include services performed by an …
§ 229 The term “employment” shall not include services covered by an …
§ 230 The term “employment” shall not include service performed after …
§ 231 The term “employment” shall not include services performed for an …
§ 232 The term “employment” shall not include services performed by a …
§ 232.1 The term employment shall not include services performed by an …
§ 232.2 Students; organized camps
§ 233 “Included and excluded services.” If the services performed during …
§ 234 Subject to the provisions of Sections 235 and 245 C, “wages” means …
§ 235 (I) If and only if funds from the State treasury are not appropriated …
§ 236 “Insured work” means services performed in employment for employers
§ 237 A. “Base period” means the first four of the last five completed …
§ 238 “Calendar quarter” means the period of three consecutive calendar …
§ 239 “Unemployed individual”
§ 240 “Contributions” means the money payments required from employers for …
§ 240.1 “Fund Building Receipts” means amounts directed for deposit into the …
§ 241 Prior to September 27, 1959, “week” means such period of seven …
§ 242 “Benefit year” with respect to any individual means the one-year …
§ 243 “Board of Review” means the Board of Review created by Section 5-125 …
§ 244 “State” includes, in addition to the States of the United States of …
§ 245 Coordination with Federal Unemployment Tax Act
§ 246 “Institution of higher education” means an educational institution …
§ 247 “Hospital” means any institution for the conduct, operation or …
§ 300 Duration of coverage
§ 301 Termination of coverage
§ 302 Election of coverage
§ 400 Payment of benefits
§ 401 Weekly Benefit Amount – Dependents’ Allowances
§ 401.5 Exclusion of student aid
§ 402 Reduced weekly benefits
§ 403 Maximum total amount of benefits
§ 404 Payment of benefits due to deceased individuals
§ 405 When wages payable treated as wages paid
§ 406 Benefits after termination of military service
§ 407 Part-time workers
§ 408.5 Additional benefits
§ 409 Extended benefits
§ 410 The Director may prescribe regulations authorizing the deduction from …
§ 500 Eligibility for benefits
§ 500.1 Illinois Worker Adjustment and Retraining Notification Act; federal …
§ 501 Eligibility on basis of wages for previously uncovered services
§ 502 Eligibility for benefits under the Short-Time Compensation Program
§ 600 Disqualifications
§ 601 Voluntary leaving
§ 602 Discharge for misconduct – Felony
§ 603 Refusal of work
§ 604 Labor dispute
§ 605 Receipt of unemployment benefits under another law
§ 606 Receipt of Workers’ Compensation
§ 607 Ineligibility after 26 weeks – Work requirement for second benefit year
§ 609 Evasion of disqualifications
§ 610 Vacation pay
§ 611 Retirement pay
§ 612 Academic personnel; ineligibility between academic years or terms
§ 613 Athletes – ineligibility between sport seasons
§ 614 Noncitizens – ineligibility
§ 700 Filing claims for benefits
§ 701 Findings
§ 702 Determinations
§ 703 Reconsideration of findings or determinations
§ 705 Effect of finality of finding of claims adjudicator, referee, or …
§ 706 Benefits undisputed or allowed – Prompt payment
§ 800 Appeals to referee or director
§ 801 Decision of referee or director
§ 802 Appointment of referees and providing legal services in disputed claims
§ 803 Board of review – Decisions. The Board of Review may, on its own …
§ 804 Conduct of hearings-Service of notice. The …
§ 805 Additional parties
§ 806 Representation
§ 900 Recoupment.) A. Whenever an individual …
§ 901 Fraud – Repayment – Ineligibility
§ 901.1 Additional penalty
§ 1000 Oaths-Certifications-Subpoenas
§ 1001 Testimony-Immunity
§ 1002 Attendance of witnesses – Production of papers
§ 1003 Depositions
§ 1004 Record of proceedings
§ 1100 Review by the courts of decisions on benefits
§ 1200 Compensation of attorneys
§ 1300 Waiver or transfer of benefit rights – Partial exemption
§ 1400 Payment of contributions
§ 1400.1 Solvency Adjustments
§ 1400.2 Annual reporting and paying; household workers
§ 1401 Interest
§ 1402 Penalties
§ 1402.1 Processing fee
§ 1403 Financing benefits paid to state employees
§ 1404 Payments in lieu of contributions by nonprofit organizations
§ 1405 Financing Benefits for Employees of Local Governments
§ 1405.1 Educational service centers; entities under joint agreements
§ 1500 Rate of contribution
§ 1501 Benefit wages
§ 1501.1 Benefit charges
§ 1502 Employer’s benefit wages
§ 1502.1 Employer’s benefit charges
§ 1502.2 Benefit conversion factor
§ 1502.3 Benefit charges; federal disasters
§ 1502.4 Benefit charges; COVID-19
§ 1502.5 Benefit charges
§ 1503.1 Benefit ratio
§ 1504 State experience factor
§ 1505 Adjustment of state experience factor
§ 1506.1 Determination of Employer’s Contribution Rate
§ 1506.3 Fund building rates – Temporary Administrative Funding
§ 1506.5 Surcharge; specified period
§ 1506.6 Surcharge; specified period
§ 1507 Contribution rates of successor and predecessor employing units
§ 1507.1 Transfer of trade or business; contribution rate
§ 1508 Statement of benefit wages and statement of benefit charges
§ 1508.1 Cancellation of Benefit Wages and Benefit Charges Due to Lack of …
§ 1509 Notice of employer’s contribution rate
§ 1510 Service of notice
§ 1511 Study of experience rating
§ 1511.1 Effects of 2004 Solvency Legislation. The Employment Security …
§ 1600 Agreement to contributions by employees void
§ 1700 Duties and powers of Director
§ 1700.1 Study of legal services
§ 1701 Rules and regulations
§ 1701.1 Simplification of forms
§ 1702 Personnel
§ 1703 Advisory councils
§ 1705 Employment offices; State employment service
§ 1706 State- Federal cooperation
§ 1800 Records and reports required of employing units – Inspection
§ 1801 Destruction of records by employing units
§ 1801.1 Directory of New Hires
§ 1900 Disclosure of information
§ 1900.1 Privileged Communications
§ 2100 Handling of funds – Bond – Accounts
§ 2101 Special administrative account
§ 2101.1 Mandatory transfers
§ 2102 Management of funds upon discontinuance of unemployment trust fund
§ 2103 Unemployment compensation administration and other workforce development costs
§ 2106.1 Master Bond Fund
§ 2107 Special Programs Fund
§ 2108 Title XII Interest Fund
§ 2200 Determination and assessment of contributions by the director
§ 2201 Refund or adjustment of contributions
§ 2201.1 Interest on overpaid contributions, penalties and interest
§ 2202 Finality of finding of claims adjudicator, Referee or Board of Review …
§ 2203 Service of notice-Place of hearing-By whom conducted
§ 2204 Finality of director’s decision in absence of judicial review
§ 2205 Judicial review of decisions on contributions
§ 2206 Collection of amounts due
§ 2206.1 In addition to the remedies provided by this Act, when an employing …
§ 2207 Limitations
§ 2208 Jurisdiction over resident and nonresident employing units
§ 2208.1 Return receipts
§ 2300 Conduct of hearings-Evidence
§ 2301 Testimony under oath
§ 2302 Admissibility of certified copies
§ 2303 Decisions of Board of Review or Director prima facie correct
§ 2304 Written reports of director’s employees as evidence
§ 2305 Presumption of validity of determination and assessment-Employing …
§ 2306 Certified copies of decisions or notices as evidence. A copy of any …
§ 2400 Lien upon assets of employer-Commencement-Limitation
§ 2401 Recording and release of lien
§ 2401.1 Lien Registry
§ 2402 Priority of lien. The lien created by Section 2400 shall be prior to …
§ 2403 Enforcement of lien
§ 2404 Court may enjoin delinquent employing unit
§ 2405 Process; failure to file reports or make payments
§ 2500 Director not required to pay costs
§ 2600 Every assignee, receiver, trustee in bankruptcy, liquidator, …
§ 2700 Reciprocal arrangements
§ 2701 Authorization of financial transactions resulting from reciprocal arrangements
§ 2702 Exchange of information, services and facilities-Equality of rights of nonresidents
§ 2800 Violations and penalties
§ 2900 Moneys and increments to be sole source of benefits-Non-priority of rights
§ 3000 Separability of provisions
§ 3100 Saving clause
§ 3200 Title of act. This Act may be cited as the Unemployment Insurance …
Need help with a review of a severance agreement? Chat with an attorney and protect your rights.

Terms Used In Illinois Compiled Statutes > 820 ILCS 405 - Unemployment Insurance Act

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Docket: A log containing brief entries of court proceedings.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • oath: shall be deemed to include an affirmation, and the word "sworn" shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recess: A temporary interruption of the legislative business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • sworn: shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.