ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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REMITTING BANK Definition
REMITTING BANK is a bank that sends a draft to the overseas bank for collection.
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PAR VALUE is a. the maturity value or face value, i.e., the amount that an issuer agrees to pay at the maturity date; b. the official exchange rate between two countries currencies; or, c. the value of a security that is set by the company issuing it; unrelated to market value.
INSOLVENCY occurs when a business is unable to pay debts as they fall due.