TREASURY BILL Definition

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TREASURY BILL (T-BILL) is a government security that matures in one year or less. They are zero-coupon bonds that are sold at a discount of the par value to create a positive yield to maturity. Treasury bills are considered by many the most risk free investment. Treasury Bills are commonly issued with maturity dates of 91 days, 6 months, or 1 year.

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UNDERWRITING is to protect by insurance or to guarantee the financial support of the subject item.

BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.

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