Why how and when importer import goods from other countries At first we have to know what is import, Who is importer, what risks associated with import, What is import? Import is the buying of goods or products made in other countries for domestic use or resale’s own country […]
Read moreMS Outlook Shortcut Keys Ctrl + A – Select all Items Ctrl + B – Bold Highlighted Section Ctrl + C – Copy Selected Text Alt + S – Send the e-mail Ctrl + X – Cut Ctrl + P – Print Ctrl + G – Go to Date Ctrl […]
Read moreWhat is the Rule in Clayton’s case? Right of Appropriation: (Clayton’s Rule) This is the right of a banker to appropriate the money paid by the customer to any one of the loans including a time- barred debt. But, however, once the customer gives specific directions regarding appropriation, the banker has no right […]
Read moreWhat conditions should be fulfilled to exercise the right of set-off What conditions should be fulfilled to exercise the right of set-off? It is s statutory right which enables a banker to combine two accounts in the name of the same customer and to adjust the debit balance in one account with the […]
Read moreSPECIAL FEATURES OF RELATIONSHIP OF BANKER AND CUSTOMER The special features of relation between banker customer give rise to certain rights and obligations which are mutual in character. The rights of the banker are the obligations of the customer and vice versa. Rights of a Banker Following are some of the statutory- […]
Read moreExplain the banker is a privileged debtor Relation of Debtor and Creditor As Sir John Pagét aptly remarks that “the relation of banker and customer is primarily that of debtor and creditor, the respective positions being determined by the existing state of the account”. On the opening of an account the banker assumes […]
Read moreDefinition of the banker as per banking companies act of India DEFINITION OF BANKER AS PER BANKING COMPANIES ACT OF INDIA Definition of Banker Till the passing of the Indian Companies Amendment Act,1936 there was no statutory definition of the banker in India. Though many legal decisions and interpretations were […]
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Step by Step Export Procedure Procedure of Export from Exporter side: To open an account with a Bank. To be collect ERC (Export Registration Certificate) from CCI & E. To collect TIN from Bangladesh Revenue Board. To collect Export L/C / Transferable Export L/C. To submit the Export L/C / […]
Read moreDue diligence-In good faith and without negligence What is ‘Due Diligence?’ Due diligence has become a buzz word in the recent times. Due diligence has been used since at least the mid-fifteenth century in the literal sense “Requisite Effort.” Centuries later, the phrase developed a series of meanings in different […]
Read moreWhat is IFSC-MICR codes-SWIFT Codes What is IFSC? IFSC stands for Indian Financial System Code . The Payment System Applications such as Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and Centralised Funds Management System (CFMS) developed by the Reserve Bank of India use these codes. The IFSC […]
Read moreURR 725, URC 522, ISBP 745: Their uses and Implication in Foreign Trade URR 725, URC 522, ISBP 745: Their uses and Implication in Foreign Trade: Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit -URR 725New Publication Number 725 to become effective October 1, 2008 Background to URR The Uniform […]
Read moreCash Transactions Report (CTR) And Suspicious Transaction Report (STR) Recognition of Suspicious Transactions As types of transactions that may be used by money launderer are almost unlimited, it is difficult to define a suspicious transaction. Suspicion is personal and subjective and falls far short of proof based on firm evidence. […]
Read moreElements Of Export Contract Or Sales Contracts If you asked anyone what is the elements of export contract or sale contract. Most of the people do not answer properly. Due to this, I think I have to write the matter to clarify the people. Export contract or sales contact has […]
Read moreWhat is ABA Routing Number, ACH Routing Number, and Fedwire Routing Number What is ABA Routing Number, ACH Routing Number and Fedwire Routing Number: ABA Routing Number: Routing numbers are also referred to as “Check Routing Numbers”, “ABA Numbers”, or “Routing Transit Numbers” (RTN). The ABA routing number is a 9-digit […]
Read moreTop 30 Banks Information of USA Bank of America NA Bank of America Corporation (BofA) Bank of America Corporation (BofA) is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina, United States. It is ranked 2nd on the list of largest banks in the United States by […]
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