Glossary

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 Gasoline Allowance

Usually part of the contract between independent dealers and major oil company. Often very similar to gasoline VIP. Major different – Gasoline Allowance is set for the time of contract and can not be changed or canceled by any party.

 Gasolone Rebate

Gasoline incentive program – program time to time initiated by gasoline supplier for motivating retailer sale more gasoline, calculated usually on monthly basis.

 gate valve

a valve regulated by the position of a circular plate.

 globe valve

a type of stemmed valve that is used for flow control. The valve has a globe shaped plug that rises or falls vertically when the stem handwheel is rotated.

 GOODWILL

An intangible asset of a business that relates to a favorable relationship with customers, and excess earning power.

 gradient

the rate of change in value of a physical or chemical parameter per unit change in position. For example, hydraulic gradient is equal to the difference in head measured at two points (usually wells) divided by the distance separating the two points. The dimensions of head and distance are both lengths, therefore the gradient is expressed as a dimensionless ratio (L/L).

 GROSS PROFIT

Gross sales less cost of goods sold. This is your mark-up. Also called gross margin.

 Gross profit

is the amount remaining after product costs have been subtracted from sales income. This amount is controlled by the franchisee when retail prices are set. Sales Income - Product Costs = Gross Profit

 GROSS SALES

Revenue or income from sales before returns and allowances.

 groundwater

the water contained in the pore spaces of saturated geologic media.

 grout

a watery mixture of cement (and commonly bentonite) without aggregate that is used to seal the annular space around well casings to prevent infiltration of water or short-circuiting of vapor flow.

 GUARANTEED LOAN

A loan made and serviced by a lending institution under agreement that a governmental agency will purchase the guaranteed portion if the borrower defaults.

 GUARANTOR

A guarantor has the same responsibilities as a co-signer. If the loan goes into default and is not paid by the signer(s) of the loan, the guarantor is responsible.

 GUARANTY

Promise by an individual or organization to repay a loan in the event of default.

 Guideline Lease

A tax-oriented lease, which complies with all the IRS guidelines for a