the payments system in trinidad and tobago - Central Bank of ...
the payments system in trinidad and tobago - Central Bank of ...
the payments system in trinidad and tobago - Central Bank of ...
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35THE PAYMENTS SYSTEMIN TRINIDAD AND TOBAGOGLOSSARYCross<strong>in</strong>g Stamp:A stamp which <strong>in</strong>dicates <strong>the</strong> name <strong>of</strong> <strong>the</strong>bank, <strong>the</strong> location <strong>of</strong> <strong>the</strong> <strong>of</strong>fice <strong>and</strong> <strong>the</strong>date <strong>of</strong> <strong>the</strong> transaction which is impr<strong>in</strong>tedon <strong>the</strong> face <strong>of</strong> negotiated <strong>in</strong>struments.Deposit-Tak<strong>in</strong>gInstitution:A licenced f<strong>in</strong>ancial <strong>in</strong>stitution authorisedto receive deposits from an <strong>in</strong>stitution or<strong>in</strong>dividual.Draft:An order drawn by a bank on itself orano<strong>the</strong>r local or foreign bank for a sum <strong>of</strong>money payable to order on dem<strong>and</strong>.Electronic Money:The monetary value represented by aclaim on <strong>the</strong> issuer which is (a) stored onan electronic device; (b) issued on receipt<strong>of</strong> funds <strong>of</strong> an amount not less <strong>in</strong> valuethan <strong>the</strong> monetary value issued; <strong>and</strong>(c) accepted as a means <strong>of</strong> payment bypersons o<strong>the</strong>r than <strong>the</strong> issuer.Encash:To convert a payment <strong>in</strong>strument forexample a cheque, <strong>in</strong>to cash.
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