WebMar 17, 2024 · The banker must take the following precautions while honouring cheques: Crossed Cheque: Crossed cheques are an area where a banker will have to take the most … WebJun 6, 2024 · (iii) Payment to a person who is entitled to receive payment: The banker must see that the person, who presents the cheque, is in possession of the instrument and he is …
Duties of Collecting Banker - SlideShare
WebOct 23, 2024 · (iii) Payment to a person who is entitled to receive payment: The banker must see that the person, who presents the cheque, is in possession of the instrument and he is entitled to receive the amount of the cheque. Protection to a bearer cheque: Now this protection has .been extended to bearer cheques also under sec. 85 (2). WebThe collections officer will contact clients and inform them of their debts, negotiate payment plans, and ensure payments are made as soon as possible. You may also be … inconsistency\u0027s fw
Collection of cheque chapter 2 - SlideShare
WebOct 13, 2024 · General obligations of a banker towards customer 1. The obligation of Honor Cheques 2. Obligation to Maintain Secrecy and Disclosure of information required by Law. … WebAny banker paying a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom the same is crossed, or his agent for collection, being a banker, shall be liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid. WebNov 22, 2024 · A collecting banker can claim protection against conversion if the following conditions are fulfilled. Good Faith and Without Negligence: Statutory protection is available to a collecting banker when he receives payment in good faith and without negligence. inconsistency\u0027s fx