KNOW-HOW Definition

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KNOW-HOW is the knowledge and skill required to do something correctly.

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ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.

BOND INSURANCE is insurance purchased by bond issuers to guarantee the timely payment of principal and interest, primarily for municipal bond issues. The Municipal Bond Investment Assurance Corp. (MBIA), Federal Guarantee Insurance Corp. (FGIC) and AMBAC Indemnity Corp. (AMBAC) are among the largest insurers. Insured bonds are rated AAA.

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