Crossing of a cheque Crossing prevents fraud and wrong payments. It means “Drawing Two Parallel Lines” across the face of the

Crossing of a  cheque Crossing prevents fraud and wrong payments.  It means “Drawing Two Parallel Lines” across the face of the Crossing of a  cheque Crossing prevents fraud and wrong payments.  It means “Drawing Two Parallel Lines” across the face of the - Start

Added : 2019-11-05 Views :0K

Download Presentation

Crossing of a cheque Crossing prevents fraud and wrong payments. It means “Drawing Two Parallel Lines” across the face of the




Download Presentation - The PPT/PDF document "Crossing of a cheque Crossing prevents ..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.



Presentations text content in Crossing of a cheque Crossing prevents fraud and wrong payments. It means “Drawing Two Parallel Lines” across the face of the

Crossing of a cheque

Crossing prevents fraud and wrong payments. It means “Drawing Two Parallel Lines” across the face of the cheque . Thus crossing is necessary in order to have safety. Meaning

Drawer – a drawer will cross the cheque either generally or specially. Holder – a cheque is given to the holder by the drawer without crossing, the holder can cross the cheque .Holder in due course – a holder in due course can also cross the cheque provided the cheque is not crossed or crossed generally.Banker – a banker can cross a cheque when he receives it for collection. Who can Cross a Cheque ?

General Crossing Special Crossing Two types of Crossing

According to Section 123, “where a cheque bears across its face an addition of the words ‘And Company’ or any abbreviation thereof, between two parallel transverse lines, or two parallel transverse lines simply either with or without the words “Not negotiable” that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed generally”. General Crossing

Not Negotiable crossing – Clear indication to the banker that the bank has to be very careful while making payments on the cheque. Account Payee crossing – when a cheque is crossed “account payee only”, payment should be credited by the bank only to the account of the payee. Two types of words in General Crossing

According to Section 124, “where a cheque bears across its face an addition of the name of the banker, either with or without the words “Not negotiable” that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed specially and to be crossed to that banker”. Special Crossing

Double special crossing or Double crossing - Sometimes the bank whose name is appearing in the crossing may not find a branch in the place where the payee is to present the cheque, bank has to appoint another bank as its agent for collection. Type of Special crossing


About DocSlides
DocSlides allows users to easily upload and share presentations, PDF documents, and images.Share your documents with the world , watch,share and upload any time you want. How can you benefit from using DocSlides? DocSlides consists documents from individuals and organizations on topics ranging from technology and business to travel, health, and education. Find and search for what interests you, and learn from people and more. You can also download DocSlides to read or reference later.
Youtube