Business Dictionary :
Wire, Withdraw, Withholding Tax and Witness
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Wire : noun : telegram
• To send someone a wire
Wire : verb : to send a telegram to (someone)
• He wired the head office to say that the deal had been signed.
Withdraw : verb :
(a) to take (money) out of an account
• To withdraw money from the bank
• You can withdraw up to £50 from any bank on presentation of a banker's card.
(b) to take back (an offer)
• One of the company's backers has withdrawn. = He stopped supporting the company financially.
• To withdraw a takeover bid
• The chairman asked him to withdraw the remarks he has made about the finance director.
NOTE : withdrawing - withdrew - has withdrawn
Withdrawal : noun : removing money from an account
• Withdrawal without penalty at seven days' notice = money can be taken out of a deposit account without losing any interest, provided that seven days' notice has been given.
• To give seven days' notice of withdrawal
Withholding Tax : noun :
(i) tax which takes money away from interest or dividend before it is paid to the investor
(ii) (US) income tax deducted from the pay check of a worker before he is paid
Within : preposition : inside
• The coin box is within the cashier room.
Witness : noun : person who sees something happen
• To act as a witness to a document or a signature = to sign a document to show that you have watched the main signatory sign it
• The MD signed as a witness.
• The contract has to be signed in front of two witnesses.
Witness : verb : to sign (a document) to show that you guarantee that the other signatures on it are genuine
• To witness an agreement or a signature
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