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Account History

An account history is a record of all the activities that have occurred with a specific account, such as a bank account, a credit card account, or a stock account. It typically includes the following information for each transaction: Date: The date of the transaction. Time: The time of the transaction. Description: A description of […]

1 min read

Finality Of Payment

Finality of Payment The finality of payment is a concept that determines whether a payment is considered final and irreversible. It has legal implications in various situations, particularly in contracts and commerce. Factors Affecting Finality of Payment: Contractual Terms: The finality of payment is determined by the specific terms of the contract between the parties. […]

2 mins read

Receiver

Sure, here is the definition of the word “receiver”: Receiver:A person or organization that receives something (such as information, money, or goods) from someone else. Here are some examples of the word “receiver”: The receiver of the letter will be the person who addressed it. The government is the receiver of taxes. The patient is […]

1 min read

Portable Benefits

Portable Benefits: Sharing Your Coverage on the Go Several portable benefits options exist in the US, allowing individuals to share their health insurance coverage with family members or dependents while traveling. These benefits extend coverage to a wider range of individuals compared to primary care physician (PCP) coverage in many countries. Here are some of […]

2 mins read

Payment Gateway

Definition: A payment gateway is a software that allows businesses to accept payments electronically through various payment methods, such as credit/debit cards, e-wallets, and mobile payments. It acts as an intermediary between the business and the payment processor, facilitating secure and seamless payment processing. Key Features: Payment Processing: Enables businesses to accept payments from multiple […]

1 min read

White Collar Crime

Definition: White-collar crime, also known as nonviolent crime, is a type of crime that involves deception and violation of laws related to business and financial transactions rather than violence. It encompasses a wide range of offenses, including: Types of White-collar Crimes: Fraud: Misappropriation of funds through deception, such as Ponzi schemes, embezzlement, and securities fraud. […]

2 mins read

Basic Credit Card

Definition: A basic credit card is a type of credit card that offers a low or no annual fee, basic rewards or cash back, and limited benefits. Key Features: Low or No Annual Fee: Basic credit cards typically have a low or no annual fee, making them affordable for those with lower credit scores or […]

2 mins read

Preferred Provider Organization (Ppo)

Preferred Provider Organization (PPO) A Preferred Provider Organization (PPO) is a health insurance plan that offers a network of preferred healthcare providers at lower costs than traditional fee-for-service plans. Key Features of PPO Plans: Network of Preferred Providers: PPO plans offer a network of healthcare providers who have agreed to offer services at lower prices. […]

1 min read

Financial Quota Share

A financial quota share is a percentage of a company’s voting stock that is reserved for a particular shareholder or group of shareholders. It is a type of long-term security agreement that grants the holder the right to vote at shareholder meetings and to receive dividends. Key points: Financial quota share: A percentage of a […]

1 min read

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