BARS Definition

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BARS is an acronym for Base Accounts Receivable System.

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SOFTWARE refers to programs and languages that control computer hardware.

SPECIAL PURPOSE VEHICLE (SPV) is an organization constructed with a limited purpose or life. Frequently, these Special Purpose Vehicles serve as conduits or pass through organizations or corporations. In relation to securitisation, it means the entity which would hold the legal rights over the assets transferred by the originator.

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