The words “payable at par at all CBS branches” printed on top of the multi city cheques means. that it is payable at par for the third party payee/beneficiary of the cheque. For Multi City Cheque accounts, all charges will be debited to Drawer’s account only.

What is payable at in DD?

Demand Draft is a type of a cheque drawn in favour of the payee and is payable in the city as requested by the customer. The customer requires to issue demand drafts for different purpose. Application allows customers to save the payee details of the draft through payee maintenance.

Can cheque be deposited in any bank?

You can deposit a cheque (even of your own account) in any bank to any other account(even to your own account) in any other bank. For multi city cheques payable at that centre there, in clearing, there is no charge. However nowadays you can better transfer the same by NEFT/IMPS.

How is an order cheque transfer?

The order cheque can be endorsed to another person and negotiated by the transferor. It only requires the signature of the transferor to initiate the transfer or negotiate the cheque to another person. The bank collects the order cheque deposited by any person other than payee.

What is the legal definition of a par?

Legal Definition of par (Entry 1 of 2) : the face amount of an instrument of value (as a check or note): as a : the monetary value assigned to each share of stock in the charter of a corporation

What does it mean to have par inventory?

What is Par Inventory? Par inventory is a method of inventory tracking for restaurants. Decision-makers will establish a “par,” or a minimum amount of supply required in-store after each food inventory delivery.

What does it mean when a bond is at par?

Related Terms. Short for “par value,” par can refer to bonds, preferred stock, common stock or currencies, with different meanings depending on the context. Par most commonly refers to bonds, in which case it means the face value, or value at which the bond will be redeemed at maturity.

What does par mean for a share of stock?

the condition of equality between the current market value of a share, bond, etc, and its face value (the nominal par). This equality is indicated by at par, while above (or below) par indicates that the market value is above (or below) face value