Collecting Banker: Duties, Statutory Protection and Concept of Negligence, Position of a Collecting Banker, Duties and Responsibilities of Collecting Banker,Statutory Protection to Collecting Banker, Holder
and
Holder in Due Course
Payment in due course is the content of the Negotiable Instrument Act. Payment at the right time to parties will help to the expansion of business units
Collecting Banker: Duties, Statutory Protection and Concept of Negligence, Position of a Collecting Banker, Duties and Responsibilities of Collecting Banker,Statutory Protection to Collecting Banker, Holder
and
Holder in Due Course
Payment in due course is the content of the Negotiable Instrument Act. Payment at the right time to parties will help to the expansion of business units
Banking is defined accepting for the purpose of lending and investment, deposit of money from the public repayable on demand or otherwise and withdraw by cheque, draft order or otherwise.
Ombudsman - An official appointed to investigate individual’s complaint against maladministration especially that of public authorities.
Banking is defined accepting for the purpose of lending and investment, deposit of money from the public repayable on demand or otherwise and withdraw by cheque, draft order or otherwise.
Ombudsman - An official appointed to investigate individual’s complaint against maladministration especially that of public authorities.
A cheque is an order by the customer of a bank directing his banker to pay on demand, the specified amount, to the order of person named therein or to the bearer
According to SEC. 6 of the Negotiable Instruments Act, 1881, the term cheque is defined as “a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.”
A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date
Sec. 4 of the Negotiable Instruments Act, “A promissory note is an instrument in writing containing an unconditional order, signed by the maker, to pay a certain sum of money only to or to the order of a certain person or to the bearer of the instrument.”
A bill of exchange is a written order binding one party to pay a fixed sum of money to another party on demand at some point in the future.
According to Sec.5 of the Negotiable Instruments Act, 1881, “A Bill of exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.
This presentation covers all the topics defined in Negotiable Instruments Act. It focuses on all the instruments in detail and provide an in-depth understanding of the topic.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
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An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
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Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
2. History of Promissory Note
Early Promissory notes are issued & Sign in
Tang dynasty (Middle China)(618 – 907 AD)
According to tradition, in 1325 AD promissory note
was signed in Milan (city of Italy).
Promissory notes being issued in 1384
between Genova (Italy)and Barcelona(Spain).
3. Promissory Note General Definition
A promissory note is a legal instrument (more
particularly, a financial instrument), in which one
party (the maker or issuer) promises in writing to pay a
determinate sum of money to the other
(the payee), either at a fixed or determinable future
time or on demand of the payee, under specific terms.
If the promissory note is unconditional and readily
salable, it is called a negotiable instrument.
4. Promissory Note
• Section 4 of Negotiable instruments Act
defines Promissory-Note as under:
“Promissory-note as an instrument in
writing (not being a Bank note or a
currency note) containing an unconditional
undertaking signed by the maker, to pay
on demand or money only, to, or to the
order of a certain person, or to the bearer
of the instrument.
5. Promissory Note
Essentials of Promissory Note
(1)It must be an unconditional written
promise.
(2) It must be signed by the maker called
“promiser”.
(3) It must contain a promise to pay a certain
sum in money only.
(4) It may be made by two or more persons,
and they may be liable thereon jointly or
severally.
6. Promissory Note
(5) The amount promised in the promissory
note must be payable on demand or at a
fixed or determinable future time.
7. Bill of Exchange General
Definition
• An unconditional order issued by
a person or business which directs the
recipient to pay a fixed sum of money to
a third party at a future date.
• A bill of exchange must be in writing and
signed and dated.
8. Bill of Exchange
• Section 5 of the negotiable instruments
Act, 1881, defines a bill of exchange as
“An instrument in writing containing an
unconditional order, signed by the maker,
directing a certain person to pay on
demand or at a fixed or determinable
future time, a certain sum of money only
to, or to the person or to the bearer of the
instrument”.
9. Bill of Exchange
Essentials of Bill of Exchange
(1) A bill o exchange must be in writing &
signed by the drawer.
(2) It must contain unconditional order or
direction.
(3) The direction should be to pay a certain
sum in money only.
(4) The drawee should be directed to pay on
demand or at a fixed or determinable future
time.
10. Bill of Exchange
Essentials of Bill of Exchange
(5) The amount should be payable to or to
the order of a certain person or the bearer
of the instrument.
11. Bill of Exchange
Drawer is the maker of the bill of exchange. A
seller/creditor who is entitled to receive money
from the debtor can draw a bill of exchange
upon the buyer/debtor. The drawer after
writing the bill of exchange has to sign it as
maker of the bill.
12. Bill of Exchange
Drawee is the person upon whom the bill of
exchange is drawn. Drawee is purchaser of the
goods upon whom the bill of exchange is
drawn. The dawee has to write the word
“accepted” if he accepts to make the payment
given in the bill on the due date and has to put
his signatures on it. After the drawee of a bill
has signed his assent on the face of the bill, he
is called the acceptor and this process is called
acceptance.
13. Bill of Exchange
Payee is the person to whom the payment
is made. The drawer of the bill himself will
be the payee if he keeps the bill with him
till the date of its payment.
16. Bill of Exchange
Types of Bills
Bills may be the following types:(1) Sent bills or bill for collection:-when bills
are handed over to a banker by his
customer in order that they may be
collected when due & the proceeds
credited to the customer’s A/C they are
called “bills for collection.
17. Bill of Exchange
(2) Bills Negotiated or Bills Discounted:Are those bills for which the banker has
given value at once, without waiting for the
proceeds after collection.
18. Bill of Exchange
(3) Bills Retired:-When a bill withdraw from
circulation or taken up before it is due, it is said
to be “Retired”. Sometimes the acceptor of a
bill of exchange desires to meet the bill before
its maturity if he has sufficient funds. The
holder generally allows the acceptor a rebate
or discount for the unexpired period of the bill.
19. Bill of Exchange
Bills in Set:- Section 132 of the negotiable
instruments Act, 1881, lays down that
when bills of exchange are drawn in two or
more than two parts, they are called “bill in
set” & each part is on a separate piece of
paper; but all parts are worded exactly in
the same language except that the parts
are numerically “the 1st of exchange”, “2nd
of exchange.