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A Customer Sends Payment to a Post Office Box Which

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A customer sends payment to a post office box which is emptied by the firm's bank daily. The bank then processes the payments and notifies the firm of the day's collections. This collection technique is known as


Definitions:

Invitation to Treat

An invitation for parties to make an offer, which can then be accepted or rejected, not an offer itself.

Breach of Contract

The violation of any term or condition in a contract without lawful excuse.

Letter of Acceptance

A document that officially acknowledges the acceptance of an offer or proposal, typically relating to educational admission, job offers, or contractual agreements.

Satisfactory Financing

Obtaining a loan or financial backing on terms acceptable to the party or parties involved, typically within a certain timeframe.

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