Asset backed security (ABS), structured like a collateralized bond obligation (CBO). Instead of being based on its bonds, it is based on a bank’s or a governmental agency ‘s portfolio […]

A joining together or contribution of goods into a common fund. This occurs where a portion of money, advanced by the father to a son or daughter, is brought into […]

In the civil law . The collation of goods is the supposed or real return to the mass of the succession which an heir makes of property which he received […]

This occurs when the assets of an estate are grouped together where there is no will pertaining to the distribution of assets.

When upon the same label one seal was set on the back or reverse of the other. Wharton.

In ecclesiastical law . This occurs where the bishop and patron are one and the same person, in which case the bishop cannot present the clergyman to himself, but does, […]

A writ directed to justices of the common pleas , commanding them to issue their writ to the bishop, for the admission of a clerk in the place of another […]

In old English law . A writ whereby the king conferred the keeping of an hermitage upon a clerk. Reg. Orig. 303, 308.

A known employee or peer in the same profession, business or organization . Known also as coworker.

To gather together; to bring scattered things (assets, accounts, articles of property) into one mass or fund. To collect a debt or claim is to obtain payment or liquidation of […]

Charges for transportation owed by the consignee, be it a shipment or a delivery. Known also as charges collect, charges forward, or freight collect.

Goods transported in under free on board (FOB) terms.

See C. O. D.

This term applies to merchandise that will be paid for at the time that it is delivered.

Goods transported out using free on board (FOB), terms.

Items such as antiques, art, books, coins, that are rare and valuable, bought for their potential future worth as an investment. This worth usually increase in inflationary times and deceases […]

Typically the buyer’s bank that collects whatever is due by whatever vehicle is warranted. It can be a cash payment or a time draft from a buyer. It can be […]

1. In General, this is a process for recovering delinquent amounts owed to a firm by a customer. 2. In Banking: this is the (1). presenting a check or draft […]

Delinquent or pastdue account moved out of routine account processing into the collection department or a collection agency .

Firm specializing in getting (1). commitments from delinquent customers to pay, (2). Recovering, in part or in full, delinquent amounts due, or (3). initiating court action to force delinquent recovery.

An agreement to pay by draft drawn under a letter of credit (L/C, honoring it as an ordinary draft to assist a beneficiary whose documents are out of line to […]

A portion of the premiums paid to the agent who collected them, gathered on debt insurance.

Average number of days for a firm to receive payment on its invoices. Formula: ( Accounts receivable balance x 360, divided by (Sales on credit x 12)

Bill of lading or air waybill or invoice, insurance certificate . It is exchanged for buyer’s or importer’s payment or acceptance of a commitment of payment. Known also as collection […]

A fee for collecting policy premiums that is paid to an insurance agent .