F.A.S. Definition

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F.A.S. (FREE ALONG SIDE), e.g. 'F.A.S. New York', means that, for instance, if goods are shipped from the State of Nevada in the U.S. to Madrid, Spain, no charges for shipment are made to the importer until the goods are "free alongside the vessel" in New York. After this point, charges may be applied to the importer.

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ON-THE-RUN ISSUE is the most recently issued U.S. Treasury or government agency securities. Older issues sometimes are described as "off-the-run!'

PURCHASE AGREEMENT is a contract stating the terms of a purchase.

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