Forward Collection definition
Forward Collection means the transfer by a bank of a Check to a Collecting Bank for settlement or the Paying Bank for payment. “FRB” shall mean a Federal Reserve Bank.
Forward Collection means the transfer by a bank of a Check to a Collecting Bank for settlement or the Paying Bank for payment.
Forward Collection means the transfer by a bank of a Check to a Collecting Bank for settlement or the paying bank for payment.
Examples of Forward Collection in a sentence
Any bank handling a check for Forward Collection, except the Paying Bank.
Any copy of or information related to a Substitute Check that a bank handles for Forward Collection or return, charges to a customer’s account, or provides to a person as a record of a check payment made by the person.
More Definitions of Forward Collection
Forward Collection means the process by which a bank sends a check on a cash basis to the payor bank for payment;