AVALIZE
The act of involving a third party (typically a lending institution or a bank) to ensure the obligations of a buyer towards a seller per the terms of a contract such purchase agreement or a promissory note. The bank, by applying the "avalizing" in the document (normally "by aval" is inscribed on the document itself), undertaking as the cosigner with the buyer on the transaction.
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| 00:00 | FOMC Member Patrick T. Harker Speaks | ||
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