Financial Documents

Collecting Bank (Remitting Bank)
The term 'Collecting Bank,' also known as the remitting bank, refers to the bank to which a person who requires payment of a cheque (or similar financial document) has presented it for payment.
Negotiability
The ability of a document to change hands, entitling its owner to some benefit, such that legal ownership of the benefit passes by delivery or endorsement of the document.

Accounting Terms Lexicon

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