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a banking operation in which the bank on the request of its client collects money due on the basis of monetary, commercial, or clearing documents. In capitalist countries, the collection operation is a commercial service for which banks charge fees; these fees are determined by the nature of the operation and the way payment is received from the buyer. The banks in capitalist countries also accept stocks, bonds, and foreign exchange for collection.

In socialist countries, which have a planned economy, collection operations fulfill the important function of control over the marketability of payment documents, the timeliness of settlements, and the accuracy and punctuality of payments. This operation is one of the means of consolidation of cost accountability and ruble control over contractual and financial discipline in the economy. In the USSR, collection operations using the acceptance form are part of clearing operations for goods and services; collection is also used when the necessity arises to collect payments from a debtor on the basis of documents of execution or documents which are equivalent to them and which have been submitted by the creditor for collection. The bank agencies systematically carry out instructions of supplier enterprises to send their payments documents to the banks that serve the buyers to collect the money and transfer it to the supplier for deposit in his account at the bank.

When the collection system of payment documents was established (1935), uniform payment documents were introduced: a payment claim for settlement of accounts for nonlocal debtors and a payment instruction for local debtors. Each supplier after shipping goods submits to the bank agency which is serving him the payment claims accepted for collection, if not more than a month has elapsed from the date of shipping of goods or rendering of services. In order to receive credit on the basis of payment documents for goods in transit, the documents have to be submitted not later than three working days after the date of shipping. The collection operations are performed by Gosbank (State Bank) and Stroibank (Construction Investment Bank); the conditions and payment terms are subject to the rules and instructions of the bank. During the collection operations, the bank follows the movement of the mass of commodities within the circulation sphere and watches over the timely payments and over the entry of money into the accounts of the suppliers, as well as over the safety of freight if payment has been declined by the payer.

The collection operations in the USSR are also used in international clearing operations. In socialist countries in 1955 a system of collection was introduced using immediate payment. For making collections in clearing operations with capitalist countries, Gosbank and Vneshtorgbank (Foreign Trade Bank) charge a certain commission for services; accounts between Soviet organizations and socialist countries are settled between banks free of charge, by mutual agreement.




a publication containing a number of works by a single author, works by several authors, or official, scientific, scholarly, or informational materials with a specific theme. Depending on the dates of issue, collections may be nonperiodical, periodical, or continuing.

References in periodicals archive ?
Before it begins, however, the IRM requires a discussion with the collection manager (CM).
Libraries striving to build collections of geospatial data are increasingly faced with a variety of legal issues related to these agreements.
Among the introductions are Tibetan Dreams, contemporary designs in autumnal colors of 100 percent Tibetan sheep wool; Golden Horizon, a program of Sino Persians; and Platinum, a collection of Antique Persian, Mugal and Indian textiles designs of 100 percent worsted wool.
His collection contains more than 11,000 books, pamphlets, slave narratives, journals, musical scores, and other documents relating to the black experience in the United States and the world.
Much of the WRAP glass recycling toolkit is devoted to tips and advice on fostering a business relationship with LREs when establishing a glass collection program.
Located near Place de la Bastille and run by Fondation Antoine de Galbert, La Maison Rouge organizes exhibitions of private collections twice a year as well as monographic shows of contemporary art.
Edsall describes PDCAT as a multi-format performing-arts collection that by nature encompasses a wider array of materials than a traditional archival collection.
If agencies find themselves in a posture that requires this collection--either by legislation or some kind of executive order--or decides to do so voluntarily, they should bear in mind some complexities and sophisticated issues that generally are not acknowledged as problems with statistical collection of this kind.
Those expectations get complicated almost at once, however, when the editors declare in the introduction that "the point of the present collection .
There are several questions management must answer in figuring out whether or not their foundry should invest in data collection software:
there's a 33% chance that a collection agency will recover your money.

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