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Collection definition

Collection implies the dealing with bank papers as characterized in relation to instruction received to receive payment as well as acknowledgment/acceptance or convey documents against payment as well as against acknowledgment/acceptance. or convey documents on different terms and conditions. ‘Financial Documents’ implies money related documents or financial documents and additionally business records/commercial documents:

  1. bills of exchange, promissory notes, cheque, or other same instruments utilized for getting the installment of cash.

‘Commercial Documents’ implies invoices, transport documents, documents of title or other same papers, or some other records/documents at all, not being financial documents.

‘Clean Collection’ implies financial documents not joined by business reports/commercial documents.

‘Narrative accumulation’ implies gathering of :

  1. Financial documents joined by commercial documents.
  2. Commercial documents not joined by financial papers.
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