Business / Agriculture / Certificates (Commodity): Legal instruments, entitling a qualified bearer to a specific dollar value of USDA surplus commodities. Payment-in-kind (PIK) 'certs' either can specify the types of commodities or be generic. Certificates were heavily used during the 1980s as a means of meeting financial obligations and simultaneously disposing of CCC-owned commodities.
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Business / Agriculture / Grading Certificates: A formal document setting forth the quality of a commodity as determined by authorized inspectors or graders. MORE
Business / Finance / Guaranteed Mortgage Certificates (GMC): A pure investment product in which a life company agrees, for a single premium, to pay at a maturity date the principal amount of a predetermined annual crediting (interest) rate over the life of the MORE
Business / Real Estate / Participation Certificates: Certificates issued by Freddie Mac backed by pools of mortgages. MORE