Forex Trading

That is, they are not left on the hook for any negative financial consequences that the other party has caused. Usually, one party agrees to pay the other party, who agrees to provide products or services. If one party breaches the contract (doesn’t do what they agreed to do), the other party may suffer a loss, either losing the payment…

The bank is usually the drawee, and the drawer instructs the bank to draw the amount. A payee is the person or entity to whom the final payment is made, and his/her/its name appears on the cheque. As a result, in the case of an account payee cheque, payment shall be done only by depositing it into the payee’s account.…