IMMUNIZED PORTFOLIO Definition

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IMMUNIZED PORTFOLIO is a portfolio structured such that the duration equals the duration of the investor's liabilities. The assets in the portfolio are structured to match the volatility of the investor's liabilities, thereby significantly reducing exposure to interest rate risk.

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SALES ORDER, also known as SALES CONTRACT, is a contract by which buyer and seller agree to the terms and conditions of a sale.

CASE-BASED REIMBURSEMENT, in healthcare, is a hospital payment system in which a hospital is reimbursed for each discharged inpatient at rates prospectively established for groups of cases with similar clinical profile and resource requirements.

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