Under one type of agreement, FFIs can report FACTA data to their own governments who then exchange information with the IRS. Under the second type of agreement, FFIs must register with the IRS and report FATCA data directly.

FORBES: US and Switzerland Sign New FATCA Agreement

With no agreement on what type of boat to race, the Deed of Gift governing the Cup defaults to 90-foot boats of unlimited beam, or width.

FORBES: Ellison Bets On Pure Speed For Next America's Cup

This type of agreement is implemented in countries where American Express has a propriety card business.

FORBES: Quick Take