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Associations such as the European Union, Organization of American States, and the North American Free Trade Association, encourage:
Note Payable
A written promise to pay a specific amount to a party on a certain date or on demand. It is a liability in the books of the borrower.
Due Date
The specified date by which a payment must be made, or a task or assignment must be completed.
Defined Contribution Plan
A pension plan that requires a fixed amount of money to be invested on the employee’s behalf during the employee’s working years.
Annual Pension Benefit
The amount a retiree receives yearly from their pension plan, which is based on factors such as salary history and years of service.
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