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 newly laid out rules require customs department to collect taxes and duty in foreign exchange to be arranged by Pakistani nationals or by local recipient having bank encashment certificate.
Syria has ordered the encashment of bank guarantees given to Turkish firms in the country, in order to restrict its investments there.
On the other hand, investment bonds retain their ability to pay out fiveper cent of the initial investment tax deferred each year and, if on full encashment the investor is a basic rate taxpayer, avoid any higher-rate liability all together.
The announcement said that issuance, encashment and draws of bearer prize bonds of all other denominations would continue as per the exiting procedure, according to the National Prize Bonds Rules, 1999.
On maturity payment date or premature encashment date, principal will be paid in equivalent of Pak rupee at the prevailing exchange rate, which protects the investors against the exchange rate loss.
Provision of an encashment service in accordance with the technical specification and the contract.
The Summer Promotion 2012 provides Al Ansari Exchange customers a chance to win hundreds of prizes simply by availing of any type of service including bill payments, credit card encashment, international mobile top-up, investment and saving schemes, corporate cash collection services, remittance and foreign exchange services.
A senior official said that the request has been forwarded to the finance ministry and the Prime Minister's Secretariat to get the maximum number of Independent Power Producers (IPPs) back into production and avoid encashment of sovereign guarantees.
Pilot schemes to diversify the counter business were abandoned and many users who collect benefits from post offices are being duped into payment through bank or building society accounts without being advised that encashment over the counter can remain.
The encashment of such prizes is also taking place through brokers.
The university spokesman informed here on Monday that the demands of SUTA included award of leave encashment to faculty, approval of M.Phil allowance from back date and grant of residential plots to newly-inducted teachers.
'There shall be no encashment of bonds before the lapse of first year of investment.