subject to collection

Definition

A check drawn on bank other than own that is deposited and given immediate credit to customer. Customer must be in good standings and/or have sufficient funds to cover the amount deposited. If check bounces customer will be responsible for covering deposited amount.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
subject to clause subject to mortgage