Fee charged by most lenders to pay for gathering the information necessary to process the loan.
Proctor test
Test which is done to determine the best moisture content of soil to properly compact. The soil is oven dried, weighed and then water is added gradually and the soil is compressed. Determination of water quantity, necessary for maximum soil density, is obtained this way.
Procurement
Purchasing of services or materials.
Procuring cause
Legal term, which means the cause resulting in accomplishing a goal Used in determining whether a broker is entitled to a commission.
Producer gas
Low or medium BTU content gas, composed mainly of carbon monoxide, nitrogen(2), and hydrogen(2) made by the gasification of wood or coal.
Product protection plan (ppp)
The product protection plan (ppp) provides product replacement for customers who purchase designated products from sears. The ppp is an exchange program for replacing a defective item beyond the manufacturer's warranty. It runs concurrently with the manufacturer's warranty, but supersedes it.
Production home
Mass produced homes, i.e. a tract of homes built by one builder.
Products of combustion
The elements and compounds that result from the combustion of a fuel.
Professional appraiser
Expert in real estate who has an education in real estate appraisal as well as having significant professional experience. A recognized license may be obtained from the Member Appraisal Institute. However, no national requirement exists as to who may do an appraisal. When an appraisal is done by a federally insured agency, the appraiser must be licenses by the state.
Professional grade
Professional grade tools combine many of the characteristics of industrial grade tools at a lower cost, providing outstanding value. These tools are designed for the demanding, high-end do-it-yourselfer and for the light industrial market.
