PROCUREMENT Definition

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PROCUREMENT, from a business perspective, is the purchasing of services or materials.

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LADDER is a form of diversification in which investments with widely varying maturities are held within an invest­ment portfolio. Spreading investments over a range of maturities reduces interest rate risk on reinvestment by averaging out interest rate cycles. This strategy assures a continuous cash flow over time with some potential sacrifice of optimum total return.

PLEDGED ASSET is an asset that is transferred to a lender as security for debt. The lender of the debt takes possession of the pledged asset, but does not have ownership unless default occurs.

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