ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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NON-DISCRETIONARY means it is mandatory, not up to the individual or company.
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CATS is Certificate of Accrual on Treasury Securities; a zero coupon bond created by stripping Treasury bonds.
DRAFT, DEMAND OR SIGHT, in import / export, is a draft payable upon presentation to the drawee. It may be used when the exporter wishes to retain control of the shipment for credit or title retention reasons. The buyer must pay the bank before receiving the documents to take custody of the goods. A COD shipment is similar.