Meaning CLEARING HOUSE AUTOMATED PAYMENTS SYSTEM (CHAPS): A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment Clearing Services (APACS)
More terms such as Clearing House Automated Payments System (CHAPS) in Dictionary C.
- Definition Contingent Deferred Sales Charge (CDSC):
- Examples The formal name for the load of a back-end load fund clearing house automated payments system (chaps) definition.
- Definition Completion Undertaking:
- Examples either (1) to complete a project so that it meets certain specified performance criteria on or before a certain specified date, or (2) to repay project debt if the completion test cannot be met clearing house automated payments system (chaps) explain.
- Definition Collar:
- Examples An upper and lower limit on the interest rate on a floating-rate note (FRN) or an adjustable-rate mortgage (ARM clearing house automated payments system (chaps) what is.
- Definition Cash Deficiency Agreement:
- Examples An agreement to invest cash in a project to the extent required to cover any cash deficiency the project may experience clearing house automated payments system (chaps) meaning.
- Definition Counter Trade:
- Examples The exchange of goods for other goods rather than for cash; barter clearing house automated payments system (chaps) abbreviation.
