Zero coupon bond


It is a bond bought at a price lower than its face value, with the face value repaid at the time of maturity. When the bond reaches maturity, its investor receives its face value. Some zero coupon bonds are inflation indexed, so the amount of money that will be paid to the bond holder is calculated to have a set amount of purchasing power rather than a set amount of money, but the majority of zero coupon bonds pay a set amount of money known as the face value of the bond.

Zero hour


It can be referred as the time at which a usually significant or notable event is scheduled to take place.

Zoning


It describes the control by authority of the use of land, and of the buildings thereon. The concerned areas of land are divided by appropriate authorities into zones within which various uses are permitted. Thus, zoning is a technique of land-use planning as a tool of urban planning used by local governments in most developed countries.