STALE CHECK Definition

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STALE CHECK is a check that is six months or older than the date affixed to the check by the maker. If a customer's check is presented more than six months after the date appearing on the check, the paying bank has the option of paying or dishonoring the check because the check is deemed "stale".

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SURETY BOND is a contract by which one party agrees to make payment on any default or the debt of another party.

DEDICATED PORTFOLIO, in securities, is a portfolio where the cash flow from assets is matched in timing and amount to known liabilities.

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