BizTerm Definition
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A formal set of relationships which determines the precedence of each member. For example many things in automated systems are defaulted. You can create something which overrides the default at, for example, either the customer level or on an individual transaction level. The hierarchy in this example is: 1. 1st level - default. 2. 2nd level - customer. 3. 3rd level -transaction. The hierarchy has three meanings: 1. the differing scopes to which something applies. Default being the widest possible effect and the individual transaction override being the narrowest. 2. in terms of the organization. i.e. a department belongs to a branch, a branch belongs to a legal entity, etc. See also organization. 3. the relationships between credit lines and corporate customers.

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