Encashment


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Encashment

The act of paying a loan or other liability in cash, as opposed to some other means such as check or credit card.
References in periodicals archive ?
The above referred amendments in the transfer deed and issuance of directives by the SECP regarding payment of dividend through prompt credit in the shareholders' bank accounts will not only bring efficiency and hassle-free environment, but will also eliminate malpractices such as fraudulent encashment of dividend warrants, delays/loss of dividend warrants in postal service and minimizes the issuance of duplicate dividend warrants.
KARACHI, July 03, 2011 (Frontier Star): The State Bank of Pakistan (SBP) has advised all banks to assess the adequacy and implementation of their internal control procedures pertaining to encashment of cheques in order to prevent financial loss and mitigate the associated reputational risk to the institution which can potentially arise from fraudulent cheques encashment practices such as "Cheque Washing.
The Indian government is intending to pursue all options for encashment of the bank guarantees.
During the Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) meetings, Pakistan has asked for a bank guarantee encashment on custom duties to the satisfaction of Federal Board of Revenue (FBR) and the guarantee should be acceptable to any bank in Pakistan, Secretary Commerce Zafar Mehmood told a press conference here this afternoon.
Demand was made on Deutsche Bank, Milan for encashment of advance bank guarantees.
Mughal while approving the leave encashment facility for the employees in principle has assured the employees that matter will be placed before the syndicate for its final approval.
When contacted, a senior official of the authority told that the non-depositing of Bank Drafts and Pay Orders within stipulated time for encashment was a criminal act and involved officials should be punished accordingly.
The service required includes the maintenance of bank accounts, cash and cheque handling, cheque encashment facilities, BACS transaction processing and other money transmission services associated with local authority banking arrangements.
When contacted, a senior official of the authority told here on Thursday that the non-depositing of Bank Drafts and Pay Orders within stipulated time for encashment was a criminal act and involved officials should be punished according to law.
KARACHI, December 09, 2010 (Frontier Star): In light of report by court commission about breaches in Tori and SM encashment during devastating flood in Sindh, notification has been issued to suspend the 13 officials of Irrigation department including 2 Executive Engineers, for negligence.
They do not need to wait for Sunday morning for cheque encashment to party.
He said the investors would have the option to encash the certificates at any time, with the profit accumulated from the date of purchase to the date of encashment.