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The Following Is Not a Boilerplate Provision of a Contract

question 17

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The following is not a boilerplate provision of a contract:


Definitions:

Payment Final

The conclusive settlement of a debt or obligation, which prevents any future claims or demands for payment.

Business Day

A standard day for conducting business, typically Monday through Friday, excluding public holidays.

Payment Order

An instruction by a customer to its bank to pay a specific amount of money to a designated recipient, key in facilitating international trade and finance.

Originator

The individual or entity that creates or initiates something, often used in financial contexts to refer to the original lender or issuer of a loan or financial instrument.

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