AGENCY COSTS Definition

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AGENCY COSTS is the incremental costs of having an Agent make decisions for a principal.

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CONSULAR DECLARATION is a formal statement to the consul of a foreign country declaring the merchandise to be shipped.

EFFECTIVE INTEREST RATE is the cost of credit on a yearly basis expressed as a percentage. Includes up-front costs paid to obtain the loan, and is, therefore, usually a higher amount than the interest rate stipulated in the note.

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