AGENCY Definition

AGENCY is the relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions.

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EFFECTIVE MATURITY is the date used in place of the final maturity for bonds with call, put or prepayment features. This date mathematically incorporates the effect of those optional maturity dates.

REPRODUCTION COST LESS DEPRECIATION (RCLD) is a technique for valuing electric distribution assets.

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