Presentment

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Presentment

1. See: Deposit.

2. See: Bill presentment.

3. The act in which a bank submits a financial instrument to another bank and demands payment on the instrument.
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References in periodicals archive ?
1) The name of the Chamber of Advocates wherein the complaint or presentment is submitted.
4) The name and location of the government authority, as well as the full name of the executive officer filed the relevant presentment.
7) Facts, underlying the claim as stated in the relevant complaint, presentment or communication, and evidence in support of such facts.
22, she has been getting a single, final disbursement presentment by 9 a.m.
Under the old program, if an item came in for payment at 9:30 a.m., it would be included in the second presentment and Parker would have to fund it that day.
Since the move to a single presentment carries no cost for treasuries and in most cases requires no change in operations, the response has been almost universally positive, Graves reports.
However, as more depository institutions accept electronic presentment, there is less need for substitute checks.
For a check drawn on a nearby bank, in-person presentment was relatively cheap.
It was not uncommon for a correspondent to pay presentment fees to its respondents while paying them par for all the checks it collected for them.
First, it avoided having to pay a presentment fee to a paying bank from which it received no compensating benefit.
Grand juries took advantage of their wide investigative powers and gained prominence in fighting government corruption by issuing presentments against royal officials.(12)
These presentments could be for crimes or noncriminal violations of the public trust.