Image Clearing System definition
Image Clearing System means the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing payment.
Image Clearing System means a system which allows banks to clear a digital image of a Sterling cheque rather than the original paper cheque;
Examples of Image Clearing System in a sentence
Check Image Clearing System Rules and Regulations The Depositor agrees to, and consents to the compliance by BDO with, the Check Image Clearing System, or such electronic check clearing system, as the Philippine Clearing House Corporation (PCHC) may adopt and implement from time to time including any and all PCHC rules and issuances regarding the same and/or any amendments thereto, which are deemed incorporated hereto by reference.