Examlex
Proponents of the HCR-20 favour it over the VRAG mostly because:
Float Time
The period between when a check is deposited into a bank account and the time the funds are available for use.
Substitute Check
A digital reproduction of an original paper check that is legally considered the same as the original for processing payments.
Collection Process
The steps taken by creditors to collect debts owed to them by debtors, which may include notifications, negotiation, and legal action.
Unauthorized Indorsement
An endorsement made without the authority or permission of the party holding negotiable instruments, affecting the instrument's validity.
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