Maker-Checker definition
Maker-Checker means the User Role where the User is allowed to scan Cheques whether individually or in bulk, capture the details of such Cheques whether using on-screen data entry or bulk upload, and verify the same Cheques without another User. In the case of bulk scanned Cheques, the Maker-Checker is allowed to match, whether automatically or manually, the bulk scanned Cheques against bulk details uploaded by the same Maker-Checker User.
Maker-Checker means the User Role where the User is allowed to perform the roles of both Maker and Checker. Multi-Lateral Loan means the type of Inter-Company Loan which is between only two or more Participant Accounts. In a Multi-Lateral Loan, an ICL Agreement is mandatory. Notice means a notice sent from either party to the other using the means specified in clause 13. Notional Pooling means the service whereby available funds with or without overdraft limits across Participant Accounts in a Notional Pooling Structure are considered, without the actual movement of funds, for the purpose of enhancing or optimizing debit or credit interest. The term Pooling shall carry the same meaning and can be used interchangeably. Participant means the Client’s related companies by ownership, association, agreement or other legal means that have agreed for their Accounts to be Participant Accounts in the Service. The terms Participant Customer, Participant Company or Participant Client shall have the same meaning and may be used interchangeably. Participant Account means an Account that is part of, is participating in or contributing to a Structure as authorised by the Client or its Participant Companies. Participant Company Setup Form means the document which forms part of this Agreement which must be signed by the Participant Company to become a Participant in the Service. Personnel means any of the Client’s agents, representatives or employees. PIN means a Personal Identification Number that is used in conjunction with a Token.
Maker-Checker means the User Role where the User is allowed to perform the roles of both Maker and Checker. Virtual Account (MA) means service where a unique Virtual Account numbers are generated and assigned to each of the Client’s Payers for the purpose of identifying the origin of each Deposit. The Virtual Account is not a real Account with CBD but is a reference or identifier used by the Payer in place of a real Account. Any Deposits into the Virtual Account are credited to the designated Account of the Client. Notice means a notice sent from either party to the other using the means specified in clause 13. Payer means a person or entity that performs any Deposit into the Client’s Accounts. The term Depositor shall mean the same and may be used interchangeably. Personnel means any of the Client’s agents, representatives or employees. PIN means a Personal Identification Number that is used in conjunction with a Token.