The Goal of ___________ Quality Standard Is to Detect Potential

question 42

Short Answer

The goal of ___________ quality standard is to detect potential problems to prevent their occurrence and achieve no more than 3.4 defects per million opportunities.

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Definitions:

Notice Of Dishonor

A formal notification that a negotiable instrument, like a check, has been refused payment and is dishonored.

Collecting Bank

A bank that processes checks and other instruments for payment on behalf of the payee.

Secondarily Liable

Being indirectly responsible for a debt or obligation, where primary liability falls to another party.

Endorser

One who issues an endorsement.