CERTIFICATE OF OBLIGATION Definition

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CERTIFICATE OF OBLIGATION is a bond issued by a city, without voter approval.

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CHARGEBACK, in the credit industry, occurs when a credit card processor 'charges back' to the merchant the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.

RELATIVE CHANGE is a value that is properly related in size or degree or other measurable characteristics, e.g. cost of goods enjoyed a relative change of 9% as compared to prior period performance.

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