payment for collection

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• collection — I (accumulation) noun accession, accretion, acervation, acervus, acquisition, addition, agglomeration, aggregate, aggregation, amassment, amount accrued, compilation, concentration, congestus, conglomerate, conglomeration, convergence, cumulation …   Law dictionary

• collection — Obtaining payment. American Banker Glossary The presentation of a negotiable instrument for payment, or the conversion of any accounts receivable into cash. Bloomberg Financial Dictionary * * * collection col‧lec‧tion [kəˈlekʆn] noun 1.… …   Financial and business terms

• collection — A group of things assemhled, as a collection of rocks; an item of husiness of a collection agency or, as the term is sometimes used, of a lawyer in the commercial line; the act of receiving payment of a debt, whether payment be voluntary or… …   Ballentine's law dictionary

• collection — /kə lekʃən/ noun 1. the act of getting money together, or of making someone pay money which is owed ● tax collection or collection of tax ♦ bills for collection bills where payment is due 2. the fetching of goods ● The stock is in the warehouse… …   Dictionary of banking and finance

• collection ratio — The ratio of a company s accounts receivable to its average daily sales, which gives the average number of days it takes the company to convert receivables into cash. Bloomberg Financial Dictionary * * * collection ratio collection ratio ➔ ratio… …   Financial and business terms

• collection item — An item that a bank takes for its customer s account for which credit is not given until payment for the item is actually received. A documentary draft is ordinarily treated as a collection item …   Black's law dictionary

• collection item — An item that a bank takes for its customer s account for which credit is not given until payment for the item is actually received. A documentary draft is ordinarily treated as a collection item …   Black's law dictionary

• payment — I (act of paying) noun acquittal, acquittance, amortization, amortizement, clearance, compensation, defrayal, defrayment, disbursement, discharge of a debt, expenditure, liquidation, outlay, quittance, receipt in full, reckoning, recompense,… …   Law dictionary

• Collection — For works entitled The Collection, see The Collection (disambiguation). Collection or Collections may refer to: Collection (computing), the abstract concept of collections in computer science Collection (payment), the actions of a creditor… …   Wikipedia

• Collection — Col*lec tion, n. [L. collectio: cf. F. collection.] 1. The act or process of collecting or of gathering; as, the collection of specimens. [1913 Webster] 2. That which is collected; as: (a) A gathering or assemblage of objects or of persons. A… …   The Collaborative International Dictionary of English

• collection by affidavit — col·lec·tion by affidavit: a procedure available for small estates in some states as an alternative to court administration in which a person named in a will may file an affidavit asserting his or her entitlement to payment after a waiting period …   Law dictionary