MANAGING THE RISKS OF PAYMENT SYSTEMS CHAPTER 8 pdf

... examples, 186 – 187 statute of frauds paperless transaction examples, 188 Uniform Electronic Transactions Act (UETA), 188 – 189 Payment systems revolutions 1950–1990s, 185 Payment systems, kinds of, 2 Payments ... service offered. The risks of corporate payment systems are primarily and best managed by avoidance of risks preventing losses in the payment systems...

Ngày tải lên: 02/07/2014, 16:21

... DEFINITIONS The drawer of the check is the customer of the bank. The drawer writes the check. The drawee is always the bank. The payee of the check is entitled to present the check for payment to the ... “Bounces”? If the bank “dishonors” a check— refuses to pay it the “suspension” of the obligation of the drawer to the payee stops and the holder...

Ngày tải lên: 02/07/2014, 16:21

... of the various payment systems, including the check system and the Fedwire, CHIPS, SWIFT, and ACH systems. Subsequent chapters discuss each of these systems in greater detail. The advent of the ... financial professionals still need to understand the risks of the check system as well as the risks of the paperless payment systems. It is hoped that this...

Ngày tải lên: 02/07/2014, 16:21

... global funds-transfer systems, the principal payment systems in use today, are covered in separate chapters in this book. Chapter 8 discusses the manage- ment of corporate payment systems risk. BARTER Ancient ... debit to the Federal Reserve account of the sending bank and a credit to the Federal Reserve account of the receiving bank and is final when the Fed...

Ngày tải lên: 02/07/2014, 16:21

... payment orders.” The sender of the first payment order is the “originator,” and the first payment order is from the origi- nator to the originator’s bank. The ultimate recipient of the or payment date ... within 30 days of receipt of notice of the transfer. The bank receives a fraudulent payment order and pays the order without verifying the authenti...

Ngày tải lên: 02/07/2014, 16:21

... bank. The payment is not due until the payment date, but the obliga- tion is incurred upon the bank’s acceptance of the payment order. 31 At the same time, the obligation of the originator to the beneficiary ... an overpayment, the sender does not have to pay the order to the extent of the overpayment. 80 However, liability for the order may shift bac...

Ngày tải lên: 02/07/2014, 16:21

... Originator: Closing the Loop ACH Rule 4.4.4 requires the Receiver either (1) to credit the account of the Originator, as of the settlement date, with the amount of the entry credited to the Receiver’s ... a payment to the RDFI or the Receiver. The information must be provided by the opening of business on the second banking day following the Settlement Da...

Ngày tải lên: 02/07/2014, 16:21

... encrypts the digest, uti- lizing the private key of the sender. The encrypted digest is the “digital signature.” The recipient of the message then uses the public key of the sender to decrypt the ... significant advantage of the use of a purchase card as part of an electronic procurement system is the ability of the card to authenticate the originator...

Ngày tải lên: 02/07/2014, 16:21

... for their loss. They said they would rather be outlaws a year in Sherwood Forest than President of the United States forever. THE ADVENTURES OF TOM SAWYER CHAPTER 8 TOM dodged hither ... "Then art thou indeed that famous outlaw? Right gladly will I dispute with thee the passes of the merry wood. Have at thee!" They took their lath swords, dumped their...

Ngày tải lên: 24/12/2013, 14:16

... they'd a got the corpse they was after. Well, I see I warn't hurt, thanks to goodness. The boat floated on and went out of sight around the shoulder of the island. I could hear the ... slipped out and into the edge of the woods. I sat down there on a log, and looked out through the leaves. I see the moon go off watch, and the darkness begin to blanket...

Ngày tải lên: 24/12/2013, 16:15