IDC Definition

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IDC is Intangible Drilling Cost.

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OPEN REPURCHASE AGREEMENT is a repurchase agreement with no set maturity date and often a rate of return that fluctuates on a daily basis, depending on market rates. The yield on this type of investment is higher than on a daily repurchase agreement because the agreement often runs several days and the dealer usually requires some short notice before the investor can withdraw funds.

REMITTANCE ADVICE is a notice of payment due, either in paper form or as a notice of an electronic data interchange financial transaction.

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