DEFERRED REVENUE EXPENDITURE Definition

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DEFERRED REVENUE EXPENDITURE see DEFERRED EXPENDITURE.

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INITIAL TERM is normally the first time period covered under an agreement or contract (the Term) at the end of which the agreement will either terminate or be automatically renewed under set conditions (Renewal Term), e.g. a one year contract.

CUSTOMS BROKER is an individual or firm licensed to process entry and clear goods into the country for another.

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