Unclaimed Deposits definition

Unclaimed Deposits means a debt payable either in Pakistani currency or any other (foreign) currency is owing by a banking company by reason of a deposit (time/demand deposit, or any other kind of deposit) ), not being recorded in the name of a minor or a government or a court of law, or a financial instrument (pay slips / pay orders / D.Ds / T.Ts / M.Ts, or any other financial instrument in respect of which no transaction has taken place and no statement of account has been requested or acknowledged by the creditor during a period of ten years as reckoned under sub section(1) of Section 31 of BCO 1962.1) INTRODUCTIONPART – B 1.1) Introduction:The Guidelines of Business Conduct for Banks (“the Guidelines”) sets out procedures which the banks are recommended to follow in their dealings with customers. 1.2) Objectives:The objectives of the Guidelines are to:
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Examples of Unclaimed Deposits in a sentence

  • General Services-00-101 -Unclaimed Deposits- 0097-Misc, Receipts-02080-Misc.

  • ASSUMPTION OF LIABILITIES 9 2.1 Liabilities Assumed by Assuming Institution 9 2.2 Interest on Deposit Liabilities 11 2.3 Unclaimed Deposits 11 2.4 Employee Plans 12 ARTICLE III.

  • The Company does not have any Unclaimed Deposits on the date of the Balance Sheet.

  • Unclaimed Deposits: Deposits received as security for the payment of water and sewer which remain unclaimed for a period of two (2) years after an account is closed may be transferred to the Water Fund Account.

  • ASSUMPTION OF LIABILITIES 9 2.1 Liabilities Assumed by Assuming Institution 9 2.2 Interest on Deposit Liabilities 10 2.3 Unclaimed Deposits 11 2.4 Employee Plans 11 ARTICLE III.

  • Revenue Recognition of Unclaimed Deposits – exchange revenue Unclaimed deposits older than three (3) years are recognised as revenue.

  • The Commission voted to table action to allow the Developer to engage with a working group from the HOA.

  • Revenue Recognition of Unclaimed Deposits – exchange revenueUnclaimed deposits older than one (1) year are recognised as revenue.

  • Resemblance makes possible knowledge of the‘In Drawing this specimen, which resembled a griffin, I could articulate the forms in order to bring out the ‘griffinness’ of the specimen.

  • Unclaimed Deposits are not required to be transferred to the Investor Education and Protection Fund (IEPF) in terms of section 125 of the Companies Act, 2013, as these deposits are unclaimed for less than 7 years from the date of their maturity.

Related to Unclaimed Deposits

  • Assumed Deposits means Deposits.

  • Fund Deposit means the deposit of funds transferred by the Client or the Client's Authorized person and credited to the Company Account for transfer to the Client's Account.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Reserve Fund Deposit With respect to the Reserve Fund, an amount equal to $5,000, which the Depositor shall initially deposit into the Reserve Fund pursuant to Section 3.21 hereof.

  • Customer Deposits means at any time, the aggregate amount at such time of (a) deposits made by customers with respect to the purchase of goods or the performance of services and (b) layaway obligations of the Borrowers.

  • Bid Deposit means a financial guarantee to ensure the successful bidder will enter into an agreement.

  • Time Deposits means time deposits, certificates of deposit or similar arrangements with any bank or trust company, including the Trustee or an affiliate thereof, which is a member of the Federal Deposit Insurance Corporation.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Savings deposit means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the bank during any specified period.

  • Imposition Deposits are defined in Section 7(a).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Collection Accounts As defined in Section 3.10(a).

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Payments or Deposits means the cash, check, or credit card amounts actually paid for Your Trip. Certificates, vouchers, discounts, credits, frequent traveler or frequent flyer rewards, miles or points applied (in part or in full) towards the cost of Your Travel Arrangements are not Payments or Deposits as defined herein.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.