Definition of Overcertification

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TeachMeFinance.com - explain Overcertification




historic definition...

Overcertification -- When a bank certifies a check (see Certified check) and the drawer (issuer) has not at the time enough funds on hand to meet it that is Overcertification. The bank expects the drawer to make up the deficiency by a deposit before the check is presented for payment.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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