DISCREPANCY Definition

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DISCREPANCY is a difference between conflicting facts or claims or opinions. In import / export, it is situations relating to official documents that are presented that do not conform to what is required within the Letter of Credit.

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DISCOUNT PAPER is securities that are issued at a discount and mature at face, or par value. The difference, rather than coupon payments, represents the interest earned at maturity .

PARI PASSU is to do or apply something at an equal pace or rate. In finance, it is used in reference to two classes of securities or obligations that have equal entitlement to payment.

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