CHIPS Definition

CHIPS is Clearing House Interbank Payment System. A computerized payment system for clearing checks in New York.

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SPLIT-OFF POINT is the stage in the production process at which joint products become identified as distinct products which can be sold or processed further; this is called the split-off point.

FCIA (FOREIGN CREDIT INSURANCE ACT) is an EximBank program that offers credit insurance against losses due to political conflict or buyer default.

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