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| Standard payment calculation
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Method of calculating that determines the monthly payment needed to repay the balance of a mortgage in equal installments. |
| Standard practices of the trade(s)
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One of the more common basic and minimum construction standards. This is another way of saying that the work should be done in the way it is normally done by the average professional in the field. |
| Standby
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A person or thing that can be depended on to serve or be put into service, when needed. |
| Standby commitment
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Commitment by a lender to make available a sun of money at specified terms for a specified period for the financing of a project. The borrower pays a fee for the privilege of either executing the loan or allowing the commitment to lapse. |
| Standby fee
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The sum required by a lender to provide a standby commitment. The fee is forfeited if the loan is not closed within a specific time. |
| Standby heat loses
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A term used to describe heat energy lost from a water heater tank. |
| Standby loan
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Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. Also called a bridge loan. |
| Standby power generator
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Electrical generator that is used to supply electricity when there is a failure in the primary electrical supply. The generator is powered by an internal combustion engine. |
| Standing seam metal roof
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Metal roofing panels that are fastened with interlocking seams that fold over at right angles to the plane of the panels. The panels comes in two types, some that are folded and crimped together during installation and some have already folded seams that are slid together. |
| Standpipe
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(1) Open vertical pipe that receives water from an automatic washing machine. (2) The vertical pipe run supplying water to a fire sprinkler system. |
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