CLEARANCE LETTER Definition

CLEARANCE LETTER is a documented certification from a recognized authority that the cleared entity has satisfied certain requirements, payments, actions, etc.

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BULLET is 1) A security with only one final maturity payment. 2) A fixed income investment strategy where securities of a single maturity (rather than barbelled or laddered maturities) are purchased.

STOCK OPTION is a contractual right granted by a company to the named holder of the option the right to purchase the companys stock at a fixed price stated on the stock option within a specified period of time. If the stock option is not exercised within the specified period of time, then the contractual right lapses.

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