The term 'FORMAL CLOSE' is a phrase used to describe the end of a formal document or letter. It is typically used to express gratitude and appreciation for the recipient's time and attention. The crossword solutions for this term are YOURS, which is an abbreviation for 'YOURS sincerely' or 'YOURS faithfully'. This phrase is used to close a formal letter or document and is a polite way to show respect and appreciation for the recipient.