PICKFORD
Verified member
Payment might be characterized as a cycle on method for settling monetary or deals. It is likewise alluded to as the repayment of exceptional obligations between a loan boss and a purchaser. payment can be created involving different means in unfamiliar or home exchange repayment of obligations can take different structures the different method for payment will be widely clarify later.
To decide the strategy for payment you should initially consider the aggregate sum of cash included, the expense of the method for payment, the desperation of payment, the sort of record kept by the debt holder, the wellbeing of cash, the date when payment is expected, distance between the purchaser and recipient.
There are different ways on method for payment or settlement for monetary or deal they can be delegated legitimate delicate (legal tenders), payment through the bank, method for payment given by the mailing station, money manager's method for payment. Let's explain few of them
1. Legal tender:
legal tender is a form of payment by which a creditor is compelled by the law of a state to accept in settlement of debt. this is referred to as cash and it is the commonest means of paymentcoins and note and legal tenders because they must be accepted by a creditor for debt settlement as required by law.
2. Payment through the bank:
bank accept cash payments in some various forms example our cheque, cheque is an underwritten by the drawer to a bank to pay on demand a specified sum of money to the person named in it as payee. It is potable cheque are demand on the bank by the account holder to pay the standard amount all institutions accept checks in settlement of debts.
3. Payment provided by the post or mailing station:
Some of the payment forms provided by many stations include postage stamps, a postage stamp is a means of payment by which small sum of money can be sent by postpostage stamps are used in settlement of small amount on items being purchased search and spending for samples post office accept commission for the service. Other payments means provided by post on mailing office postal order, money order, telegraphic money order, etc.
To decide the strategy for payment you should initially consider the aggregate sum of cash included, the expense of the method for payment, the desperation of payment, the sort of record kept by the debt holder, the wellbeing of cash, the date when payment is expected, distance between the purchaser and recipient.
There are different ways on method for payment or settlement for monetary or deal they can be delegated legitimate delicate (legal tenders), payment through the bank, method for payment given by the mailing station, money manager's method for payment. Let's explain few of them
1. Legal tender:
legal tender is a form of payment by which a creditor is compelled by the law of a state to accept in settlement of debt. this is referred to as cash and it is the commonest means of paymentcoins and note and legal tenders because they must be accepted by a creditor for debt settlement as required by law.
2. Payment through the bank:
bank accept cash payments in some various forms example our cheque, cheque is an underwritten by the drawer to a bank to pay on demand a specified sum of money to the person named in it as payee. It is potable cheque are demand on the bank by the account holder to pay the standard amount all institutions accept checks in settlement of debts.
3. Payment provided by the post or mailing station:
Some of the payment forms provided by many stations include postage stamps, a postage stamp is a means of payment by which small sum of money can be sent by postpostage stamps are used in settlement of small amount on items being purchased search and spending for samples post office accept commission for the service. Other payments means provided by post on mailing office postal order, money order, telegraphic money order, etc.
