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Forty-nine US states (sans Montana [4] [5]) regulate (i.e., require licensure for) money transmitters, although the laws vary from one state to the other. [6] Most of the states require a money transmitter surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintain a minimum capital requirement.
Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions. The Reserve Bank of India describes the hundi as "an unconditional order in writing made by a person directing another to pay a certain sum of money to a ...
Court-ordered cash bonds require the total amount of bail to be posted in cash. The court holds this money until the case is concluded. Cash bonds are typically ordered by the Court for the following reasons: when the Court believes the defendant is a flight risk, when the Court issues a warrant for unpaid fines, and when a defendant has failed ...
The cash value of the bond will be credited to your checking or savings account within two business days of the redemption date. A minimum of $25 is required to redeem an electronic bond.
Hawala or hewala (Arabic: حِوالة ḥawāla, meaning transfer or sometimes trust), originating in India as havala (Hindi: हवाला), also known as havaleh in Persian, [1] and xawala or xawilaad [2] in Somali, is a popular and informal value transfer system based on the performance and honour of a huge network of money brokers (known as hawaladars).
Financial instruments are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership, interest in an entity or a contractual right to receive or deliver in the form of currency (forex); debt (bonds, loans); equity (); or derivatives (options, futures, forwards).
Hawala (also Hiwala, Hewala, or Hundi; literally "transfer" or "trust") is a widely used, informal "value transfer system" for transferring funds from one geographical area to another, based not on wire transfers but on a huge network of money brokers (known as "Hawaladars") throughout the Muslim world. [343]
In the United States, it is common for bail to be a cash (or other property) deposit. Cash bail in other countries is more limited. [3] Known as a bail bond or cash bail, an amount of money is posted so that the suspect can be released from pre-trial detention. Unless posted by a bail bondsman, this deposit is refunded if the suspect makes all ...