NEGOTIABLE CERTIFICATE OF DEPOSIT Definition

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NEGOTIABLE CERTIFICATE OF DEPOSIT is a security generally issued in increments of $1 million and, if created in good delivery form, salable in the national market through a securities dealer or a bank investment depart­ment prior to maturity.

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AVERAGE COST is total cost for all units bought (or produced) divided by the number of units.

CHARGEBACK, in the credit industry, occurs when a credit card processor 'charges back' to the merchant the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.

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