COMMODITY Definition

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COMMODITY is an article of commerce or product that can be used for commerce. In a narrower sense, commodity is product traded on an authorized commodity exchange. Some types of commodities: agricultural products, metals, petroleum, foreign currencies, financial instruments and indices, etc.

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

FLAT LEASE is a lease where the cost is fixed for a specific period of time.

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