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Is the drawee banker require the acceptance of applicant for payment of sight LC?
Wiki User
∙ 11y ago
no
Wiki User
∙ 11y ago
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How can you stop payment on a certified check?
You can't. The act of certifying it is the guarantee from the certifying bank that payment will be made, no matter what.you can talk to your banker about the situation and ask them what your options are and how to get your money back.
What are the requisites of a cheque to a commerial?
³An unconditional order in writing drawn on a specified banker, signed by the drawer, requiring the banker to pay on demand a sum certain in money to, or to the order of, a specified person or to the bearer, and which does not order any act to be done in addition to the payment of money´3.(Law of Banking by Dr. Hart, p.327).5.1.4) the Requisites of ChequeThere is no prescribed form of words or design of a Cheque, but in order to fulfill therequirements mentioned in Section 6 above the Cheque must have the following.a)It should be in writing b)The unconditional order c)Drawn on specific banker onlyd)Payment on Demande)Sum Certain in moneyf)Payable to a specific persong)Signed by the drawer
What is the difference between demand draft and pay order?
A demand draft is a pre paid negotiable instrument, wherein the drawee bank undertakes to make payment in full when the instrument is presented by the payee for payment. The demand draft is made payable at a specified branch of a bank at a specified centre. In order to obtain payment, the beneficiary ha to either present the instrument directly to the branch concerned or have it collected by his bank through the clearing mechanism. A banker's cheque(Pay Order) is another payment instrument which is used by the banks to settle payment obligations on behalf of their customers. This instrument is guaranteed by the bank for its full value and is similar to a demand draft. In practice, these instruments are payable at the branch of issue and are used for payment within the local clearing jurisdiction.
Can a banker pass a post dated Cheque?
No.
What kind of jobs can you do with your degree in Accounting?
cfo, banker, financial manager
Difference between banker's acceptance and letter of credit?
differecences between banker's acceptance and letter of credit
What is a banker's acceptance?
A banker's acceptance is a negotiable instrument or time draft drawn on and accepted by a bank, which upon acceptance becomes an obligation of the bank and is a marketable money-market instrument.
What is banker acceptance?
A banker's acceptance is a way of financing international trace activity. It is a short-term instrument for investors that is guaranteed by a commercial bank and issued by a firm.
What are the advantages and disadvantages of banker's acceptance?
disadvantages of bankers' acceptances
What is the accounting treatment for banker acceptance in banks?
A banker's acceptance starts as a time draft drawn on a bank deposit by a bank's customer to pay money at a future date, typically within six months, analogous to a post-dated check. Next, the bank accepts (guarantees) payment to the holder of the draft, analogous to a post-dated check drawn on a deposit with over-draft protection.
Who is collecting banker?
A bank that assists in obtaining payment in accordance with draft payment terms.
Difference between collecting banker n paying banker?
When a check is written on a bank account, the banker at that particular bank is the paying banker. They are responsible for paying the check when a customer presents it for payment. A collecting banker collects the checks for his customers from a paying banker.
What qualifications needed to become a banker?
you require a bachelors degree
For what would one use the Coldwell Banker mortgage calculator?
You would use a Coldwell Banker mortgage calculator to estimate your monthly payment on a mortgage. To estimate the monthly mortgage payment you need to enter the purchase price, down payment, interest rate, property taxes, insurance, and mortgage term.
Introduction to banking?
A banker or bank is a financial Institution that acts as a payment agent for customers, and borrows and lends money.
How much cost for import export license code in India?
. Bank Receipt /Demand Draft details evidencing payment of application feeof Rs. 250/-. DD should be in favour of Zonal JDGFT, New Delhi.2. Certificate from the Banker of the applicant firm in the format given inAppendix 18A (Part B).3. Self certified copy of Permanent Account Number (PAN) issued by IncomeTax Authorities(both sides).4. Two copies of passport size photographs of the applicant. Photograph on thebankers certificate should be attested by the banker of the applicant.5. Self addressed envelope duly stamped for Rs.30/-.6. These documents may be kept securely in a file cover.source http://www.dgft.gov.in/dgftcla/faqs.asp
What is good for payment cheque?
Bank gives surety or guarantee to pay the money to beneficiary of the cheque endorsed by bank. Customer (drawer) has to pay certain charge to make a cheque Good for Payment. The payable amount is segregated from the balance to reserve once it endorse. This cheque is authorized by the banker to be Good for Payment. Customer can request bank to prepare manager's cheque, cashier's cheque, banker's cheque or cheque on selves instead of good for payment
