cheque-issuance

Vocabulary Word

Definition

'Cheque-issuance' is the process of writing out a cheque. This is done by a person or organization, also known as the 'drawer', who directs their bank to pay a certain amount of money to another person or organization.

Examples in Different Contexts

In non-profit organizations, 'cheque issuance' is used for disbursing funds for operational expenses and charitable activities. A treasurer might note, 'Our policy on cheque issuance ensures transparency and accountability in how we allocate our resources.'

Practice Scenarios

Tech

Scenario:

The new software solution for finance includes a cheque writing feature. This can automate our payment process and reduce the risk of error.

Response:

Adopting a software solution for cheque-issuance seems viable. Let's explore this option for streamlining our payments.

Business

Scenario:

We've had complaints of delay in issuing cheques for refunds. This has implications for customer satisfaction and our reputation.

Response:

Perhaps we need to revise our cheque-issuance process to avoid delays and improve customer satisfaction.