Foreign Checks Collection  
Process of sending fx checks for clearing received for deposits to client’s account. 

  Clean Collection Items
These are foreign checks, drafts, or other items received for collection or for outright encashment or credit and which are free of any documents or conditions relating to its final payment.

Cash Letters 
Services given by certain correspondent banks which have the effect of giving our Bank prompt but provisional or conditional credit for items negotiated through the use of the correspondent’s courier service and the privilege of immediate credit with that correspondent upon receipt. The credit amount however, is subject to reduction for such amounts as may subsequently be returned unpaid when presented. This service is being utilized to accelerate the clearance of US dollar checks drawn on banks and/or financial institutions located within continental USA or its territories like Hawaii, Guam, depending on the arrangement with the correspondent bank, and Canadian dollar checks drawn on Canadian financial institutions. The guaranty period is reckoned after a certain number of banking days from date of provisional credit, e.g. 13 banking days, which varies depending on the bank’s arrangement with these correspondent banks. The minimum amount of check acceptable for cash letter shall be USD25.00.