EXEMPT Definition

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EXEMPT is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.

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EXCHANGE RATE EFFECTS is the effect on any given currency as the rate of exchange changes providing either a gain or loss in value against other currencies.

DISPATCH, in shipping, is the amount paid by a vessels operator to a charterer if loading or unloading is completed in less time than stipulated in the charter party.

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