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Cheque Discounting is providing a post dated cheque to a bank by its customer which amounts to the short term loan taken from the bank and the interest charged by the bank.
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What is cheque discounting?
Client can take money from bank on the security of post dated cheques issued by their credit worthy customers. The bank in this case is certain that they will get the payment of this cheque on the due date from the customer of the client. Normally the cheques should not be dated for date which is later than 90 days from the date of discounting.
Meaning of paying banker?
the banker on whom a cheque is drawn or the banker who is required to pay the cheque drawn on him by a customer is called the paying banker or drawee bank
What the meaning of dishonored cheques?
A Cheque that is returned by the cheque issuing branch because it is not a fully valid instrument to dispense cash. It could be because the cheque has expired or the account holder signature is not consistent or illegible or there is over writing in the payee name or the amount etc or if the account does not have sufficient balance to pay the cheque.
Meaning of To Clearing when cheque is deposited?
It means that the money has exchanged from one bank to the next.
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
What is cheque discounting?
Client can take money from bank on the security of post dated cheques issued by their credit worthy customers. The bank in this case is certain that they will get the payment of this cheque on the due date from the customer of the client. Normally the cheques should not be dated for date which is later than 90 days from the date of discounting.
What is the meaning of bill as cheque?
A cheque is British English for a check in American English.
What is the meaning of consideraton in we are enclosing a cheque as consideration?
payment
What is the meaning of apparent tenor of the cheque?
Apparent tenor of cheques means: date of cheque, sum of cheque both word and figure, name of payee, drawer signatures.
What is the exact meaning of an expired check?
Every bank cheque has a validity of 6 months from the date of issue of cheque. Let us say you issue a cheque to somebody on Jan 1st, till June 30th the cheque is valid. From July 1st the cheque is expired.
What is the difference between cheque and voucher?
Cheque is both securities and payment instrument. Voucher is only securities. From securities point of view they are the same and have the same meaning. Cheque has larger scope.
What is meaning of encashment?
The payment of a note, draft or cheque in cash money.
Meaning of drawer and drawee of cheque?
The DRAWER is the individual who issues the cheque, instructing the bank (DRAWEE) to pay the recipient (PAYEE). Drawer and payee can be the same person if it is a self cheque.
What are the Discounting and Non-discounting Criteria of Capital Budgeting?
IRR
Atm transaction CD-R this code meaning?
Cheque returned in clearing
Meaning of paying banker?
the banker on whom a cheque is drawn or the banker who is required to pay the cheque drawn on him by a customer is called the paying banker or drawee bank
How do you explain discounting of accounting policies?
Explain discounting of accounting policies
