ASSESSMENT is a. proportionate share of a shared expense; or, b. amount of tax or other levied special payment due to a governmental municipality or association.
BILLABLE are those costs and/or expenses that are covered under a contractual agreement between two entities that may be billed to the receiving entity.
LADDER is a form of diversification in which investments with widely varying maturities are held within an investment portfolio. Spreading investments over a range of maturities reduces interest rate risk on reinvestment by averaging out interest rate cycles. This strategy assures a continuous cash flow over time with some potential sacrifice of optimum total return.
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