Total amount representing three states of processing (1). Checks as yet unreceived, previously posted by customers, (2). checks received but as yet, undeposited, and (3). checks deposited, but as yet, […]

Draft, presented to an importer or buyer for acceptance or payment. Can be signed or time typed draft. These usually are accompanied by other shipping documents ,

Order from exporter or seller instructing the collecting and remitting banks on interest charges, demurrage charges, case of need , protest, and other points. Known also as collection order. Do […]

Time a firm takes to collect its accounts receivables. Stated as an average number of days. It is the period between delivering an invoice and receiving the payment.

Ratio measure a firm’s credit policy and collection efforts efficiency. Formula: Accounts receivable amount x 365 divided by net sales monies.

Detailed list of steps for ordered execution leading to when and how to collect past-due amounts. The credit policy details the collection procedures.

The ratio of how much money is collected over certain time period .

Group’s steps or actions while working toward a common goal. When individuals engage in collective action , the strength of the group’s resources, knowledge and efforts combines all parties to […]

Good-faith procedure of documented actions between an organization ‘s management and a trade union representing its employees for negotiating wages, working hours, working conditions , and other matters of mutual […]

Documented, legally- enforceable contract viable for a specified period, typically one year. The management of an organization and its employees represented by an independent trade union are the usual parties […]

Penalty applied to each member of a group regardless of a member’s involvement in the group’s actions and conduct. Refer also to collective responsibility .

Every member’s responsibility regardless of an individual member’s involvement in decisions or the member’s position or rank. Refer also to consensus and doctrine of individual responsibility.

One authorized to receive taxes or other impositions ; as “collector of taxes.” A person appointed by a private person to collect the credits due him.

A person temporarily appointed by the probate court to collect rents, assets, interest, bills receivable, etc., of a decedent’s estate, and act for the estate in all financial matters requiring […]

An oflicer of the United States , appointed for the term of four years. Act May 15, 1820.

Lat. In the civil law . A co-legatee. Inst. 2, 20, 8.

A co-legatee; a person who has a legacy left to him in common with other persons.

An organized assembly or collection of persons, established by law, and empowered to co-operate for the performance of some special function or for the promotion of some common object which […]

A statement of accomplishment given by a college to students attending and completing a higher learning institution rigor in specific areas of study. This means that required credits have been […]

In the civil law . The guild of a trade.

In a corporate capacity. 2 Kent, Comm. 296.

In English ecclesiastical law . A church built and endowed for a society or body corporate of a dean or other president, and secular priests, as canons or prebendaries in […]

Lat In the civil law . A word having various meanings; e. g., an assembly, society, or company; a body of bishops ; an army; a class of men. But […]

The college or society of the admiralty

tum. One which abused its right, or assembled for any other purpose than that expressed in its charter.