Definition of Written Check

The checkis undoubtedly one of the most popular payment methods around the world. The check is not only used to pay for goods that are acquired in stores but is also used by a company to pay its suppliers or some employee who works freelance, among others.

Basically the check is a document or written payment order that empowers the person to whom it is extended to withdraw a sum of cash and that is deposited in a bank account that generally corresponds to the person or company that pays, that is, the signatory of the check has a bank account in that Bank who issues the check in question.

In as much and as a good form of hyper popular payment we can find various types of check, being the conformed check one of those many ...

The conformed check is that type of check in which the institutionfinancial who has to pay the check, assures the person who must cash it that they will be able to do so compliant because the person who gives you that check has sufficient funds to deal with that payment. That is, with the check made, there will be no doubts for the recipient that he will receive the money that he indicates to pay.

Now, for the check to be recognized and valid as such, the financial entities that issue it must place in the payment document a legend that says conformity, certificate, among the most frequent options, plus your signature.

And there is another issue tied to the issuance of this type of check and that is that the bank retains you in your account at your client the sum that he must pay through the check made. In this way it is guaranteed that the funds are available yes or yes.

It should be noted that the bank transmitter for issuing this type of check, you charge your client a commission.

As the rationale behind these checks is that they undoubtedly guarantee their collection, many creditors sue them to ensure that they will receive the payment they are owed.