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Cheque negotiation refers to the process by which a payee presents a cheque to a bank for payment or deposit. It involves the transfer of the cheque from the payee to the bank, which verifies its authenticity and ensures that sufficient funds are available in the payer's account. Successful negotiation results in the payee receiving the funds, either in cash or as a deposit into their account. This process is crucial for the secure and efficient handling of payments in financial transactions.

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AnswerBot

1w ago

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