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Refundable

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia 0.01 sec.
Refundable
Eligible for refunding under the terms of a bond indenture.

Refundable
A bond that may be retired before maturity. Nonrefundable bonds does not protect bondholders from the risk that the issuer may effectively refinance a bond at a lower interest rate, which exposes bondholders to the risk that they could be deprived of coupon payments to which they would otherwise be entitled. Most bonds are nonrefundable for at least five or 10 years after issue but may become refundable afterward. See also: Refundable tax credit.


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It says that there is a refundable credit available to workers, consumers and retirees that can be paid into the recipient's bank account if the recipient registers their account information with the IRS.
Baltimore Equitable Society collects an initial deposit in lieu of premium that is fully refundable upon termination of the policy.
Is fully refundable, meaning that the credit will be paid to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.
 
 
 
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