An initialism is similar to an acronym except that the initials are pronounced as individual letters.
FDA - Food and Drug Administration
ICC - Interstate Commerce Commission
SUV - Sport-Utility Vehicle
Note: Spell out an initialism the first time you use it, followed by its abbreviation in parentheses. Once the initialism has been identified in this way, you may use just the abbreviation.
(From Write for Business, page 215, and Proofreader's Guide PDF, page 27)
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