It directs the collecting banker that he needs to credit the amount of cheque only to the account of the payee, or the party named or his agent. This type of crossing restricts the negotiability of the cheque. Restrictive Cheque Crossing or Account Payee’s Crossing However, in special crossing two parallel transverse lines are not essential but the name of the banker is most important. Thus, the paying banker will honor the cheque only when it is ordered through the bank mentioned in the crossing or its agent bank. In this case, the paying banker will pay the amount of cheque only to the banker whose name appears in the crossing or to his collecting agent. In special crossing, the cheque bears across its face an addition of the banker’s name, with or without the words ‘not negotiable’.
Learn more about the Bills of Exchange in detail here. The words ‘and Co.’ have no significance as such.īut, the words ‘not negotiable’ are significant as they restrict the negotiability and thus, in the case of transfer, the transferee will not give a title better than that of a transferor. Thus, in this case, the holder of the cheque or the payee will receive the payment only through a bank account and not over the counter. For the purpose of general crossing two transverse parallel lines at the corner of the cheque are necessary. In the case of general crossing on the cheque, the paying banker will pay money to any banker. In general crossing, the cheque bears across its face an addition of two parallel transverse lines and/or the addition of words ‘and Co.’ or ‘not negotiable’ between them. Let us learn about types of cheque crossing in greater detail.
#Chequebook of faith free
Coleraine Free Presbyterian Church.A crossing is an instruction to the paying banker to pay the amount of cheque to a particular banker and not over the counter. Oh, what feet are the feet of faith, by which, following the hind of the morning, we shall ascend into the hill of the Lord! Up yonder we shall climb, even to the mount of God, the high places where the shining ones are gathered. One of these days we shall be called to higher places still. He can fit our foot for the crags so that we shall be at home where apart from God we should perish. Our Lord will give us grace to follow the most difficult paths of duty without a stumble. The hinds leap over rock and crag, never missing their footholds. Note that the Lord also gave him surefootedness. Think of that: the almighty God Himself becomes our strength! By and by he was called to the high places of the hills of conflict and he was no more afraid to go up than to go down.
The prophet had to traverse the deep places of poverty and famine, but he went down hill without slipping, for the Lord gave him standing. This confidence of the man of God is tantamount to a promise, for that which faith is persuaded of is the purpose of God. The Lord God is my strength, and he will make my feet like hind's feet, and he will make me to walk upon mine high places. Saturday, JFaith's Cheque Book, Daily Entry C. Online Devotional - Faith's Cheque Book by C.H.
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