OFFSET ACCOUNT Definition

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OFFSET ACCOUNT is an account that is setup for elimination of a long or short position by making an opposite transaction.

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XU is a currency of Vietnam and South Vietnam.

LETTER OF GUARANTEE is a written promise issued by a bank to compensate (pay a sum of money) to the beneficiary (third party, local or foreign) in the event that the obligor (customer) fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.

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