Practices applied by a bank and, more generally, by a company to collect accounts receivable (procedures followed by a firm in attempting to collect accounts receivable). Large institutions in particular employ working groups in this field, which use collection methods tailored to specific groups of debtors. Their success is reflected in the respective delinquency rate.
– See collection, money forgiven, collection business, customer, lazy.
Paying agent: If not defined otherwise, this is understood to mean – a domestic private individual, or more rarely a company, – which, by agreement with a mostly unknown – and often domiciled in one of the offshore financial centers – principal, allows payments from the principal’s customers – into the account held at a German bank and – receives a commission for this. – In almost all cases, these transactions are illegal under supervisory or criminal law and constitute terrorist financing. – See Money Transfer Intermediary, Money Transfer Regulation, Account Blocking, Nominee.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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