CHAPS Definition

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CHAPS is Clearing house automated payment system. A computerized payment system for clearing checks in the UK.

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TRADING PROFIT is that profit earned from the short-term trading of securities that were held for less than one year. Such profit is usually subject to tax at regular income tax rates.

DEVELOPMENT normally refers to a) improving a product or producing new types of products; or b) in real estate, process of placing improvements on or to a parcel of land.

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