BUDGETING Definition

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BUDGETING is the documenting of intended expenditures over a specified time period (normally one year) along with proposals for how to meet them. See also ZERO BASED BUDGET.

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UST BENCHMARK RATE is the yield to maturity (calculated in accordance with standard market practice) corresponding to the bid-side price for the relevant UST Bond.

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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