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Glossary of Terms Used for USAID's Automated Directives System (ADS) - Updated 07/15/2011 Partial Revision

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Term Definition
Bank Letter Of Commitment

A USAID agreement with a U. S. bank under which USAID guarantees to reimburse the bank for the account of an approved applicant for all amounts paid by the bank and chargeable to the account under the instructions of the approved applicant and in accordance with general and specific conditions established by USAID (USAID Automated Directives System - ADS - Chapter 630).

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