OFF-BALANCE SHEET LIABILITY Definition

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OFF-BALANCE SHEET LIABILITY is an item not reported within the body of a financial statement as a liability that may require future payment or services, e.g., litigation, renegotiated claims within a government contract, and guarantees of future performance.

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PERCENTAGE DESIGN, in construction, is the percentage expended for design and construction management services in proportion to total construction.

EXPIRATION DATE is the date on which something; e.g. a security or bond offering, warranty or license; is no longer valid or in effect.

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