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Dishonored
In financial terms, a dishonored instrument (like a check) refers to one that cannot be processed because the payor's account lacks sufficient funds or is closed.
Liability
The state of being legally responsible for something, particularly for debts or legal obligations.
Intermediary Bank
A financial institution that acts as a middleman between a payer's and a payee's banks, especially in international wire transfers.
Check Collection
The process of a bank or other financial institution obtaining the funds promised in a check from the check writer's bank.
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