encyclopedia

TIC

True Interest Cost. The interest cost of debt to borrowers based on the interest rate, compounded semi-annually, that is necessary to discount cash payments of interest and principal to the purchase price of the bonds received. Similar to the Annualized…

TICKET

1. A printed card or piece of paper that gives a person a specific right to ride on a train or transit vehicle. 2. To provide a ticket or tickets. (TRB)

TICKET VENDING MACHINE (TVM)

TVMs are located at the entrances to rail stations for purchase of tickets.

TIE (CROSSTIE)

The transverse track structure element, usually of treated wood, which supports the rails and holds them at the proper gauge. It is in turn supported by the ballast. In addition to supporting the rails, wooden ties provide some measure of…

TIME AND MATERIALS CONTRACT

A type of contract that provides for the procurement of supplies or services on the basis of direct labor hours at specified fixed hourly rates (which include wages, overhead, general and administrative expenses, and profit) and materials at cost.

TIME LOCKING

Interlocking protection which prevents the position of a switch, movable point frog or derail from being changed until a predetermined time has elapsed.

TIME OFF

The clock time recorded when an operator’s duties are completed. (TRB)