Define: Collections Account
Collections Account means an account at a bank, controlled solely by the bank, accepting and managing collateral-associated payments.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Collections Account means an account at a bank, controlled solely by the bank, accepting and managing collateral-associated payments.
Relevant Circumstances
- Collection of a client's overdue payments.
- Provision of services on credit.
- Sale or leasing of goods and services.
- Parties entering into a loan agreement.