PAC BOND Definition

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PAC BOND is a planned amortization class collateralized mortgage obligation (CMO) that provides a set average life within a specified band of prepayment assumptions. PACs are considered the most stable CMO class in terms of average life variability.

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RECEIVING REPORT is a document completed in the receiving department, which identifies the purchase order that initiated the purchase, and the date, quantity, and condition of goods received.


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