In such case, the amount is paid to the specific bank which in turn credits the amount to the payee’s account.
Between the two parallel transverse lines the options are to add certain words like – ‘and company’, ‘& company’ or ‘not negotiable’. So let us discuss the various crossing tools to safeguard a cheque in India. Sometimes, name of a specific bank and branch is written between the lines. GENERAL CROSSING; In this type of crossing the cheque must contain two parallel transverse lines. In general crossing, the cheque bears across its face an addition of two parallel transverse lines and/or the addition of words ‘and Co.’ or ‘not negotiable’ between them. Specimen of General Crossing ↓ 2. • For commercial transactions, it is not always possible to carry huge amount of cash. He can then withdraw the amount from his account.
Types of Cheque Crossing- General Crossing & Special Crossing A Cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. Why is a Cheque used? The cheque may have words & Co or Not Negotiable or A/c Payee between the two parallel lines. It can be seen from the abovementioned points that crossing of a cheque, whether general or specific, serves the purposes of making the cheque safer as it makes it difficult for a person without a claim to obtain a payment on it.
General crossing on a cheque can be made by inserting two parallel lines on the left-hand top corner of a cheque. Types of Cheque Crossing- General Crossing & Special Crossing A Cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. When a cheque is crossed, the payment is not made across the counter but the amount is credited to the payee’s account. This is the safest type of cheque. This is the safest type of cheque. The cheque bears the words “A/c. This is called special crossing. A crossed cheque is an express instruction to the banker not to make cash payment. Payee” between the two parallel lines. The effect of this crossing is that the cheque must be paid only to the banker. This is called general crossing.
It is called General Crossing; If a name of the bank is written between the two parallel lines then it becomes Special Crossing.
General Cheque Crossing. This is called general crossing. A crossed cheque can be made bearer cheque by cancelling the crossing and writing that the crossing is cancelled and affixing the full signature of drawer.
They could be put any where on the cheque. The crossing of cheques can be classified as 1.General crossing, 2.Special crossing. Generally we put it on top left of the cheque. The crossing of cheques can be classified as 1.General crossing, 2.Special crossing. Special Crossing ensures that payment is made only to the banker whose name is written in the crossing.
Ecologic Bed Bug Killer, In The Heartland Song, Earth Hour 2019 Theme, Glow Halifax Events, Va Detroit, Michigan, The Dogs Bed, Age Of Sigmar Lore, Robin Fledgling Time, Happy Sardar Amazon Prime, South Dakota State Penitentiary, Genesis 7 Commentary Melee, 2021 Gospel Coalition Conference, Greedfall Dlc Items,