Electronic funds transfer used by corporations and government agencies to pay trade creditors through the Automated Clearing House (ACH). The CTP is less flexible than the newer payment options, such as the Corporate Trade Exchange and was phased out in 1996. See also Cash Concentration & Disbursement; Electronic Data Interchange.
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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