DEBIT MEMORANDUM Definition

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DEBIT MEMORANDUM can be either a) a form or document given by the bank to a depositor to notify that the depositors balance is being decreased due to some event other than the payment of depositor originated check, e.g. bank service charges; or b) a form of document used by a seller to notify a buyer that the seller is debiting (increasing) the amount of the buyers accounts payable due to errors or other factors requiring adjustments.

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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.

DEBT COVENANT is one of many terms used to describe rules governing the loans that a company has outstanding. Other related phrases would be "loan terms" "credit agreement," "loan agreement."

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