BONDING Definition

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BONDING is generally used by service companies as a guarantee to their clients that they have the necessary ability and financial tracking to meet their obligations. Bonds are also used to guarantee payment of duty for U.S. Customs entry.

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DEVOLVE is to pass on or delegate to another, e.g. a devolved letter of credit.

COMPOUND JOURNAL ENTRY is a journal entry that involves more than one debit or more than one credit or both.

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