Technical Glossary of Simultaneous Interpretation

Publicly listed company created to acquire a private company — an alternative to the traditional IPO

PE/VC investment in a listed company at a discount — common among Brazilian companies seeking strategic capital

Leveraged acquisition — the acquired asset serves as collateral for the debt. Foundation of the private equity model

Order of priority for distributing returns in PE funds between LPs and the GP after invested capital is returned

Portion of fund returns that goes to the GP — usually 20% after returning capital and exceeding the hurdle rate

Standard agreement governing OTC derivatives — interest rate swaps, CDS, commodity derivatives

Net value of the fund's assets per unit — basis for quarterly reporting to LPs and for wealth management

Mechanism requiring the GP to return carry if the fund's total return ends up below the hurdle rate

Profit before interest, taxes, depreciation and amortization — universal operating performance metric

Valuation methodology that discounts future cash flows — primary in M&A and financial due diligence

First document signed in any negotiation — protects confidential information during the process

Governs rights, duties, tag-along, drag-along, right of first refusal and exit mechanisms among partners

The central closing document of an M&A deal — price, conditions, representations & warranties, earn-outs

Clause that lets the buyer withdraw from the M&A deal if a relevant adverse change occurs before closing

Part of the price paid conditionally on future performance — common in M&A of high-growth companies and startups

Seller's statements about the state of the business — basis for indemnification for problems discovered after closing

Alternative dispute resolution — confidential, faster than the courts. CAM-CCBC, ICC Paris, ICSID

Investigation before M&A or investment — financial, legal, operational, environmental and technical

Compensation mechanism for losses arising from a breach of representations & warranties — a central SPA clause

Conditions that must be met before the M&A deal closes — CADE approval, regulatory approvals, third-party consents

Main SaaS metric — basis for valuation. ARR = MRR × 12

Measures whether the customer base grew or shrank. NRR > 110% indicates healthy expansion revenue

Sales and marketing investment ÷ new customers. Always analyzed together with LTV

Total revenue a customer generates over their lifecycle — basis of unit economics analysis

Percentage of customers or revenue lost in the period — the main adversary of SaaS growth

Programming interface — how systems communicate. Central to software integrations and Open Finance

Defines uptime, response time and penalties — central to enterprise SaaS and cloud contracts

AI architecture that combines search over knowledge bases with language generation — basis of specialized assistants

GPT, Claude, Gemini — core vocabulary in AI investments and roadshows of artificial intelligence startups

Two distinct acronyms with the same abbreviation — essential context in simultaneous interpretation of technology

Difference between local price and exchange benchmark (CBOT, ICE) — central to soybean, corn and coffee contracts

The exporter delivers at the port — from there the risk is the buyer's. Standard in agribusiness exports

The exporter pays freight and insurance to the destination — used by buyers who prefer a delivered price

Buyer commits to purchasing future production — a financing instrument and demand guarantee

The world's main grain futures exchange — global price benchmark for soybeans, corn and wheat

Federal sanitary quality certification — mandatory for exporting meat and by-products from Brazil

Good agricultural practices certification — required by European and American retailers from Brazilian suppliers

Sustainability certification for coffee, cocoa, fruit — recognized by European and American importers

Documentation of the product's path from field to destination — required by global retailers and international certifiers

Weather or logistics event that reduces production — risk management and agricultural derivatives language

Standard unit for measuring containers — basis of terminal capacity and port tariffs

Penalty for exceeding the contracted laytime — a significant financial cost in charter contracts

Time allowed for loading/unloading before incurring demurrage — calculated in SHINC or SHEX hours

Bonus paid when the vessel is released before laytime ends — the opposite of demurrage

One shipping line rents space on another's vessel — common among ocean alliance members (ONE, 2M, THE Alliance)

Document proving the transport contract and possession of the cargo — essential in foreign trade

Documents the container's condition at terminal entry and exit — basis for damage disputes

Per-ton fee charged by landfills and plants — main revenue source of the solid waste sector and basis of sanitation contracts

Smaller vessel that carries containers between regional ports and transshipment hubs

Brazilian port regulator — governs concessions, tariffs and licenses in the national port sector