Examlex
What is the meaning of the following abbreviations: UMP and AMP?
Zero Balance Account
A zero balance account is a type of bank account that maintains a balance of zero dollars by automatically transferring funds from a master account in the exact amount of transactions clearing the account.
Line of Credit
A flexible loan from a bank or financial institution, where a borrower can access funds up to a specified limit at any time.
Lockbox System
A service provided by banks to process payments quickly by allowing companies to have their customers send payments to a special post office box.
Disbursement Float
The time lag between when a payment is issued by a payer and when the funds are actually withdrawn from the payer's account.
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