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
This content can be found on the following page:
http://www.businessdictionary.com/definition/collection.html
email to a friend
print this definition
cite this definition
link to this page