collection
Definition 1
General: Process of recovering amounts owed to a firm by its customers.
Definition 2
Banking: (1) presentment of a check or draft for payment and, subsequently, receipt of its amount in cash or as a credit entry. (2) Transfer of delinquent or past-due accounts to a collection agency (or a special department set up for the purpose) for full or partial recovery of the amount.
Definition 3
Foreign trade: Process through which the global banking system acts on behalf of an exporter (or seller) to collect cash payment or a time draft from the importer (or buyer) in return for documents required for taking delivery of the ordered goods.
collection is in the Accounting & Auditing, Banking, Commerce & Finance and International Trade & Relations subjects.
collection appears in the definitions of the following terms:
key performance indicators (KPI),
doubtful account,
collection period ratio,
credit policy,
recovery,
baseline data,
documents,
uniform rules for collections (URC),
index,
surveillance
and
collection appears in the other terms: clean collection, collection document, artificial collection, collection float, direct collection, collection item, collection policy, collection account, average collection period, advance against collection and
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