SURETY BOND Definition

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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.

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GARBAGE IN, GARBAGE OUT (GIGO) is an often used computer and software industry saying meaning that if the data going into a system is suspect, the resulting data output will be suspect.

CAPITAL COMMITMENT is an agreement to undertake capital expenditure at some set time in the future which has not yet become an actual liability.

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