The presentation includes:
- Definition of Cheque
- Parties in Cheque
- The requisites of Cheque
- Types of Cheques- Open and Cross Cheques
-Payment of Cheque
-Money Paid by Mistake
Negotiable Instruments Act - Legal Environment of Business - Business Law - ...manumelwin
The word ‘negotiable’ means transferable by delivery and instrument means a written document by which a right is created in favorable of some person. The term negotiable instrument therefore literally means a document transferable by delivery.
finance account banks business banker acceptance open account international financial management slide Factoring Forfeiting counter trade Definition example method of settling payment for trade transactions 2014
Barter.Counter-purchase.Buyback.
Negotiable Instruments Act - Legal Environment of Business - Business Law - ...manumelwin
The word ‘negotiable’ means transferable by delivery and instrument means a written document by which a right is created in favorable of some person. The term negotiable instrument therefore literally means a document transferable by delivery.
finance account banks business banker acceptance open account international financial management slide Factoring Forfeiting counter trade Definition example method of settling payment for trade transactions 2014
Barter.Counter-purchase.Buyback.
Collection of cheque chapter 2, banker as a holder for value, conversion of a cheque, precautions to be taken by collecting banker, duties of a collecting banker, statutory protection to collecting banker
Letter of Credit - Complete Presentation - (Bcom-Mcom-BBA-MBA-BS)Millat Afridi
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. A letter of credit is extremely common within international trade and goods delivery, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
Documentary Credit means any arrangement that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation
http://accountsknowledgehub.blogspot.com/
Collection of cheque chapter 2, banker as a holder for value, conversion of a cheque, precautions to be taken by collecting banker, duties of a collecting banker, statutory protection to collecting banker
Letter of Credit - Complete Presentation - (Bcom-Mcom-BBA-MBA-BS)Millat Afridi
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. A letter of credit is extremely common within international trade and goods delivery, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
Documentary Credit means any arrangement that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation
http://accountsknowledgehub.blogspot.com/
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the what'sapp number of my personal pi merchant who i trade pi with.
Message: +12349014282 VIA Whatsapp.
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
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Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
3. Cheque
3. Cheque:
A written order of a depositor upon a bank to pay
to or to the order of a designated party or to
bearer, a specified sum of money on demand.
Parties of Cheque
The person who draws the cheque is called
Drawer.
The bank on which the cheque is drawn is called
Drawee.
The person to whom payment is to be made is
called Payee.
4. Specimen of a ChequeKabul Bank
Shar-e-Now,
Main Br. Kabul
Current Account Cheque No. 000201
Pay or bearer
Date__________
Amount in figures ________
Amount in words__________________________
_______________
Signature
Account No. 101-20000963-5
Specimen of Cheque
5. The requisites of chequeThe requisites of cheque
There is no prescribe form of words or design of the
cheque. But in order to fulfills the requirements of Act a
cheques must have following points
1) It should be in written
2) The unconditional order
3) Drawn on a specified banker only
4) Payment on demand
5) Sum certain in money
6) Payable to specific person
7) Signed by drawer
6.
7. Types of Cheque (cont’d):
1. Open cheque:
Open cheques are those cheques which are paid
across the counter of the bank.
Open cheque has further two types:
– Bearer cheque and
– Order cheque
8. Bearer cheque:
– If a drawer orders the bank to pay a stated sum of
money to the bearer, it is called a bearer cheque.
– Any person who lawfully possesses a bearer cheque
is entitled to receive payment of that cheque.
Order cheque:
– If the cheque is to the order of a person in whose
favor the cheque is drawn, it is called order cheque.
– The order cheque is paid by the bank only when the
bank is satisfied about the identity of the payee.
9. 2. Crossed cheque:
If a cheque is crossed by drawing two parallel
lines across the face of the cheque, with or
without the words & Co or A/c payee only, it is
called a Crossed cheque.
• The crossed cheque cannot be paid on the counter
of the drawee bank.
• It will be deposited in the account of a person in
whose order or favor it is drawn.
10.
11. • There are two transverse parallel lines, marked
across its face or
• The cheque bears an abbreviation "& Co. "between
the two parallel lines or
• The cheque bears the words "Not Negotiable"
between the two parallel lines or
• The cheque bears the words "A/c. Payee" between
the two parallel lines.
12.
13. • When a particular bank's name is written in
between the two parallel lines the cheque is
said to be specially crossed.
14. • It’s the primary responsibility of banker to repay the
customer money whenever he demands.
• The banker must honor the customer cheque, if the
cheque meets the following criteria:
Payment of cheque
15. Cheque must be in a proper form
• Customer should fill the form in manner which
is clear and free from ambiguity .
• In Afghanistan printed cheque are provided to
customers.
• If customer change the form it should be
returned.
16. Cheque should not be crossed
• A crossed cheque cannot be honored at the
counter of bank to any person but collecting
bank.
• If the bank honors a crossed cheque, then
owner of the cheque claim the damages
from bank.
17. Cheque should be drawn on particular
branch
• The payment of a cheque can only be done
by the branch of the bank particularly
mentioned on the cheque where the
customer is maintaining his account.
18. Cheque should be payable to bearer
or order
• The payment should be made to a person
who is in possession of it as a bearer or as
per order
• The banker will pay the cheque to the legal
possession of it
• Therefore banker must establish the identity
of the payee before making payment
19. Cheque should not be mutilated
• When a cheque is torn, worn out or does not
give sufficient evidence of customer
intention, it is called “mutilated cheque”
• Banker should see that the cheque should
not be mutilated, if he ignore that point he
will be liable
20. No unauthorized material
Act 1881 defines that “material alteration in
relation to a promissory note, bill of
exchange or cheque includes any alteration
in the following
1.Date
2.The sum payable
3.The mode of payment
4.The place of payment
Therefore, a banker must not pay a cheque
bearing apparent material alteration.
21. Fund must be available
• The drawee of the cheque having sufficient
funds of the drawer in his hands.
• Sir John Paget “ the obligation of the banker
to pay cheques drawn on him by his
customer is subject to the condition sufficient
and available for the purpose to draw up to
given limit.
22. The cheque should not be post-
dated
• it is post-dated cheque are those which are
presented for payment before the due date.
• A cheque is not out of date and If the banker
pays a post-dated cheque earlier than due
date, he lose the protection by law and shall
have to bear any loss that may arises out of
his action.
23. Cheque should be presented
during banking hours
• The banker must honor the cheque drawn on
him if they are presented on working day and
banking hours.
• Banking hours established by DBA
Afghanistan
24. No legal ban or prohibition on
payment
• The banker must see that none of the
following clauses are applicable on the
presentation for payment
1.Payment stopped by the drawer (customer)
through a notice in writing
2.Notice of insolvency, insanity or death of the
customer
3.Any court order restraining the customer
from operation from his account
25. Money paid by mistake
• If a banker has made a payment by mistake
he should naturally Endeavour to rectify the
mistake and recover the amount.
• The matter of recovery of the amount paid by
mistake rests on the certain condition as
mention below:
26. Mistake of facts
• The mistake under which the money has
been paid must be one of “fact” so law as to
enable banker to recovery.
• For instance, the money payable to Mr.
Shahid has been paid to Mr. Khan.
• This will be treated as a “mistake of fact”
27. Money received malafide
• If a person aware of the fact that he is not
entitled to the money which he is receiving. It
is payable to the payer on his claiming it.
• However, if the money has been paid on the
strength of a pass book entry, they cannot
recover the amount
28. Mistake between the parties
• A mistake must pertain to some matter
between the party paying and receiving the
money.
• Bank cannot recover money because bank
paid it in ignorance of some fact