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English - English
Definition of collection letters in English English dictionary
- collection letter
- A collection is the procedure whereby the exporter entrusts the movement of his commercial documents to a remitting bank for further processing through a collection bank for settlement from the buyer A Collection Letter is the document used by the remitting bank to relay complete and precise instructions to the collecting bank
- collection letter
- A letter sent to a debtor requesting payment of an amount that was previously billed and is now past due
- collection letter
- Letter which accompanies a draft and/or documents giving instructions for presentation, payment, collection of charges, interest, and contingency plans
Related Terms
collection letters
Hyphenation
col·lec·tion let·tersTurkish pronunciation
kılekşın letırzPronunciation
/kəˈleksʜən ˈletərz/ /kəˈlɛkʃən ˈlɛtɜrz/
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