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English definition of “TEP”

TEP

noun [C]
 
 
UK
abbreviation for Traded Endowment Policy: an endowment policy (= an agreement to pay money regularly so that you will receive a large sum of money at a later date) that is sold before it ends: The buyer of a TEP takes over responsibility for payment of the premiums.
(Definition of TEP from the Cambridge Business English Dictionary © Cambridge University Press)
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