Monday, September 13, 2010

Duties of Collecting Banker

01. Presentation of cheques for payment within reasonable time :
The banker should collect the cheques, sent by the customers, with due care. As per Section-74, they must present the cheque to the drawee bank within a reasonable time. According to the practice followed by the bankers, if the collecting and paying bankers are in the same place, the collecting banker should present the cheque before the next clearing immediately after he received it. In case of outstation cheques, he should despatch the same to the drawee banker on the same day after it is received by him. The cheque may also be presented through a clearing house or through the post. If a cheque presented with undue delay and in the meanwhile the drawer of the cheque suffers damage, the drawee is discharged to the extent of damage. 

02. Notice of dishonour : In case a cheque is dishonoured and returned back by the paying banker to the collecting banker without payment for one reason or the other, the banker must serve a notice of dishonour on his customer to enable the latter to claim the amount from the previous parties including the drawer.

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