Examlex
The time rate of doing work is called
Checks
Financial instruments that order a bank to pay a specific amount of money from the writer’s account to the person or entity in whose name the check has been issued.
Depositary Bank
The first bank that receives a check for payment.
Collecting Bank
Any bank, with the exception of the payor bank, that handles a check during the check collection process.
Check Collection Process
The procedure by which banks handle the transfer and clearing of checks from the payee's bank to the issuer's bank, ensuring payment.
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