FACE-AMOUNT CERTIFICATE Definition

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FACE-AMOUNT CERTIFICATE is a debt security issued by face amount. The holder makes payments periodically to the issues, and the issuer promises to pay the purchaser the face value at maturity or the surrendered value if the security is presented by the maturity specified in the certificate.

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CENTESIMO is a currency of Italy and Urugay.

TERM DEBT, as in Term Bonds, is debt that mature in one lump sum at a specified future date. Term debt is usually carried as one type of long-term debt.

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