IDC Definition

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IDC is Intangible Drilling Cost.

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F.O.R. (FREE ON RAILROAD) is where goods will be delivered by the exporter to a railway station. The importer is responsible from this point on.

FREEHOLD is a. an interest in land the duration of which is restricted to the life or lives of a particular person or persons holding it, or b. an interest in property that is unconditional and represents the broadest ownership interest recognized by law.

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