Akademik

collection

Obtaining payment. American Banker Glossary

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The presentation of a negotiable instrument for payment, or the conversion of any accounts receivable into cash. Bloomberg Financial Dictionary

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collection col‧lec‧tion [kəˈlekʆn] noun

1. [countable, uncountable] the activity of collecting payments from customers, and the payments themselves:

• GE Capital will handle the collections for the new credit card.

• Italy has made good progress in cleaning up public finances and improving tax collection.

ˈdebt colˌlection [uncountable]

the activity of making individuals and businesses pay debts, usually ones that they have not paid on time or that they are refusing to pay:

• Like hundreds of small-business people with debt collection problems, Mr Buschman has retained a lawyer to help him collect on an overdue bill.

2. [countable, uncountable] BANKING the activity of organizing the payment of cheques, Securities etc:

• Security Pacific is the system's clearing bank, or channel for collection and disbursement of all funds and securities moving into and out of Delta.

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collection UK US /kəˈlekʃ^ən/ noun

► [C or U] the act or job of taking something away from a place: »We will inform you when your goods are ready for collection.
refuse/waste collection »Which public authority is responsible for waste collection?

► [C or U] FINANCE the activity of collecting money that is owed, or the money collected: debt/rent/tax collection »Last week, the state reported that tax collections are up 11.5% for this fiscal year.
»I get involved with finance and rent collection.

► [C or U] BANKING the act of arranging for the amount written on a cheque to be paid out of a bank account: »The Federal Reserve Banks provide check collection services to depository institutions.

► [U] the process of bringing information together from different places: »We make software and bar-code products for data collection.

► [C] a group of objects that someone has collected as a hobby or investment: »an antiques/book/coin, etc. collection

→ See also DOCUMENTARY COLLECTION(Cf. ↑documentary collection)

Financial and business terms. 2012.