Search results
Results from the WOW.Com Content Network
A variety of checks against abuse are usually present to prevent embezzlement by accounts payable personnel. Separation of duties is a common control. In countries where cheques payment are common nearly all companies have a junior employee process and print a cheque and a senior employee review and sign the cheque.
Low down payments are one of the big reasons for mortgage denial. The higher your LTV, the higher the likelihood that your loan will be flagged for follow-up questions, or rejected altogether.
Payments of interest and principal are past due by 90 days or more; At least 90 days of interest payments have been capitalized, refinanced or delayed by agreement; Payments are less than 90 days overdue, but there are other good reasons to doubt that payments will be made in full.
Security of Payment refers to any system designed to ensure that contractors and sub-contractors are paid even in case of dispute. This can involve a system of progress payments, interim arbitration decisions, or a system which legally requires a company to pay an invoice within a set number of days, regardless of whether the company believes they are accurate.
Missed mortgage payments – It typically takes two or three missed payments for an acceleration clause to come into effect, but review your contract. Sometimes a single missed payment can invoke ...
In some U.S. states, if the cheque drawer informs the party they are uttering the cheque to that it will not clear at the current time (such as asking someone to "hold" a cheque for a few days), if the cheque bounces, they can still be sued for the value of the cheque, but warning the recipient before acceptance that the cheque will not clear ...
The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...
Many reasons could explain the limited financial access especially among the poor. First, the poor lack the education and knowledge needed to understand financial services that are available to them. Second, loan officers might find it unprofitable to serve the small credit needs and transaction volume of the lower-income population.