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foreign trade organization (F1, P3)<br />A state agency of a COMECON country which exported and imported on behalf of state enterprises of a particular sector of a national economy. From the 1920s, it was a major organization of the Soviet economy. However, with Hungary as an example, enterprises in Comecon countries increasingly allowed the choice of trading directly or through foreign trade organizations.<br /><em>See also:</em> state trading organization
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<strong>EFT</strong> – Electronic Funds Transfer, the transfer of funds via an electronic method such as wire, which is realtime, or Automated Clearinghouse (ACH), an overnight process.
<strong>Forgiveness</strong> – The release of a borrower or any comaker from all or a portion of his or her loan obligation due to qualifying child care service or qualifying teaching service.
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