DISCOUNT ALLOWED Definition

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DISCOUNT ALLOWED, normally, is a reduction of the invoice amount for early payment of the invoice value.

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SKIP PERSON is a transfer of property to a person who is in a generation below a child of the transferor, referred to as a "skip" person, typically a grandchild or great grandchild.

BENEFICIAL OWNER is the person who enjoys the benefits of ownership even though title is in another name (often used in risk arbitrage).

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