Collecting bank definition

Collecting bank means a bank handling the item for collection except the payor bank.

Collecting bank means the intermediary appointed by the Issuer to withdraw the funds deriving from corporate events;

Collecting bank means a bank handling an item for collection except the payor bank; and

Examples of Collecting bank in a sentence

• Presenting Bank - a banking institution designated by the Bank or Collecting Bank that submits a Collection Order to the Remittee and/or ensures the Collection Payment and/or performance of other conditions against the Collection Document.

• Collection Remitting Bank - a Collecting Bank and/or Presenting Bank.

• Presenting Bank – a banking institution nominated by the Bank or the Collecting Bank, which presents the Collection Order to the Receiver and/or ensures in exchange for the Cash Letter the Collection Payment and/or fulfillment of other conditions.

• The process by which the Bank sends a check on a cash basis to a Collecting Bank for settlement to the Paying Bank for payment.

• A returning bank is also a Collecting Bank for purposes of UCC 4–202(b).

More Definitions of Collecting bank

Collecting bank means the main office of ______________________________ located at ___________________________________, or such other financial institution agreed to by Company.

Collecting bank means a bank handling an item for collection except the payer bank.

Collecting bank means a bank collecting payment of a cheque or other document contemplated in section 81;

Collecting bank means a bank handling an item for

Collecting bank means any bank handling a check for forward collection, except the paying bank.

Collecting bank means the entity appointed by the Issuer to withdraw the funds deriving from transactions on the capital handled as part of the Corporate Events Support Service;

Collecting bank means a bank collecting payment of a cheque or other