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English definition of “IVA”

IVA

noun [C]     LAW
abbreviation for individual voluntary agreement : an arrangement in the UK between a person or company that owes money and the people or companies they owe . An IVA allows the person or company that owes money to avoid formally going bankrupt : The debtor must make payments to creditors as specified in the IVA.
(Definition of IVA noun from the Cambridge Business English Dictionary © Cambridge University Press)
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