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Encashment
ENCASHMENT

Definition: The act of exchanging a cheque, etc. for money.
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* All seven elements should be in.


1. Purposeful (to emphasize).

2. Considered necessary to make exchange.

3. Financial instrument (cheque, etc.) is genuine, valid.

4. Exchange is concluded timely, whatever the official rate(s) involved in transaction.

5. Amount received is correct. And currency is genuine!

6. Documentation is completely and properly done.

7. Act achieves objective(s).
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See perfect DEPOSIT (2).

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