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Investing Glossary:
Preauthorized checks (PAC)
Copyright 2009,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
| Preauthorized checks (PAC)
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| Definition: |
| Checks that are authorized by a Payer in advance, and written either by the Payee or by the payee`s bank and then deposited in the payee`s bank account.
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