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What Are Certificates Of Deposts?

By: Peter Kenny

Many consumers have found that putting money into CD’s (certificate of deposit) accounts is a good way to earn additional interest over regular savings accounts. Just like the regular savings account that most of us are familiar with, money that you put into a CD will earn interest, and usually it will earn more interest than a simple savings account.

One major difference between a regular savings account and a CD is that the money that you put into a CD has to remain in the bank or credit union for a specified amount of time in order to earn the full amount of interest. You can take the money out of a CD but you will have to pay a penalty.

The basic rule of thumb for CD’s is to not use money that you believe you will need to use before the maturity date. In other words, you should only buy into a CD if you can afford to leave the money alone for the amount of time required.

All certificates of deposit will have a maturity date. This is the date when you can withdraw the money without having to pay a penalty. The length of time for CD’s varies, so make sure you understand what you are buying.

In the event you should need to cash out the CD before it matures, most banks will charge an early-withdrawal fee. These fees are usually equal to about three to six month’s of interest but, again, this can vary, so check with the bank.

Generally, most CD’s mature in three months to five years, although 10- and 20-year CD’s are also available. The amount of interest offered will vary depending on the length of time of the CD.

Consumers should know that CD’s are protected under the Federal Deposit Insurance Corporation (FDIC) as long as they were issued through a bank. This protects consumers from loss should the bank go out of business.

Most certificates of deposit will earn compounded interest. Compounded interest means that the interest your money earns is added to the total amount of the CD so that the next time interest is calculated and added, you will earn even more.

For those who have extra cash and can afford to invest it and leave it alone until maturity date arrives, certificates of deposit are a good idea. They are a safe and effective means of earning interest on your money. They may not be as exciting as some other forms of investments, but they allow the owner to sleep at night, knowing their investment is not going to vanish overnight.

CD’s can be great gift ideas for grandchildren and other members of the family. If they are bought early enough, they can be used to help fund future education needs as well. Because they can be purchased for relatively small amounts of cash, they are often affordable to many families that otherwise might not be able to invest. Most banks and credit unions will have literature that you can read to learn much more about CD’s and how they work.

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9065.shtml

An Introduction to CLIA Regulations and Facilitation Software for CLIA Regulated Industries

By: Marci Lynn Crane

The CLIA regulations (Clinical Laboratory Improvement Amendments), like many regulations, were a response to less than desirable situations. Like Upton Sinclair?s The Jungle (and other manifestations of a heightened awareness of unsafe food handling environments and techniques) resulted in the passing of the Food, Drug and Cosmetic Act of 1906, it was the incidents regarding erroneous clinical laboratory procedures that brought about the CLIA regulations in the 1980s.

CLIA and Technology

In conjunction with increasing regulations and process recommendations for handling those regulations, it?s no wonder that software developers are busily creating the ?soft? technology that can manage rote regulatory procedures for doctors, laboratories and other life science organizations or individuals. However, finding the software that will effectively mange and streamline documentation and processes associated with CLIA regulations isn?t always an easy task. In fact, when searching online for quality software solutions, a life science professional might find that many software solutions are designed with the manufacturing environment in mind, which is fine as long as the software solution can also provide the following features and benefits:

Look for Software that Provides Document Control

CLIA regulations require (see section 493.1200) documentation, and documentation is always easier to control electronically. Look for a software solution that streamlines processes electronically. In addition, search for a solution that is web-based and easy to access from virtually anywhere. Document control features should also include automation capabilities. For example, document routing and approval should be able to be automated during the implementation of the software. Escalation capabilities should also be automated for best results—on time.

Look for Software that Manages CLIA related Training

Whether in regards to compliance or quality, in a laboratory, employees are going to require continuous training. The CLIA regulations require (see section 493.1445) that training policies and procedural documentation be created and adhered to. So, in addition to the software solution that manages document control, search for a software solution that also provides training management. The solution should include the control of training documentation, and should also provide customized automation for tasks associated with training, scheduling and escalations. Look for a solution that requires trainees to actively participate and ?pass off? certain requirements within the training system. Once they have completed their training, electronic signing will occur, the documentation will be tracked, secured, and readily available when it?s time for internal or external audits.

Look for Software that Makes the Approval of CLIA-Related Documentation Simple

In a laboratory, the lab director, or lab manager, is required by CLIA regulation (see section 493.1251) to date, sign and approve any revisions or changes to laboratory policies and procedures. These director tasks become tedious quickly since it isn?t always convenient for a manager or director to be in his or her office or to manually sign required paper work. However, with the right GxP software solution, all revised policies and procedures can be approved electronically and the lab director can approve the electronic documents from virtually anywhere.

Look for a Software Solution that Will Manage Customer Complaints Documentation and Processes

Customer complaints come to every life science company. The complaints arrive in a variety of fashions. They may come by mail, by Internet, by fax, via phone, etc. According to CLIA regulations (see section 493.1233) customer complaints handling processes must be systemized.

With the right software solution ((http://mastercontrol.com/solutions/complaints_fb.html), these customer complaints forms can be streamlined electronically.

How does it work?

Well, a customer service professional will enter a complaint (regardless of how it was received) into the software system and then the information will be transferred to the applicable investigation personnel. The right software solution can even be customized to help determine priority levels.

Conclusion: The Ideal Software to Help Manage CLIA Regulations

Ideally, CLIA regulations should be managed effectively with software that controls documentation, automates processes and simultaneously connects departments and procedures.

Article Source:
http://www.articlecity.com/articles/business_and_finance/article_8985.shtml