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, hypothecation agreements entered into by with their customers usually contains a clause which provides for banks to take possession of the hypothecated property.

2. PLEDGE

The bailment of goods as securities for payments of a debts or performance of a promise is called pledge. The bailer in this case is called the pledge. The bailer is called pledge in this mode of security, possession of stock remains in custody of the bank lack and shares are released to the borrower against cash. While in case of the default the pledge has the power of sale after giving due notice.

3. LIEN ON MARKEABLE SEUCIRTIES/DEPOSITS

In this mode of security, some liquid collaterals like defence saving certificates regular income certificates, DAG etc. are deposited with the bank and lien on these instruments is marked with the issuing bank, the instruments remain in safe custody of the bank till full and final adjustment of finance.

CLASSIFICAITON OF LMS

1. Customer's own deposits

Letter of lien has been obtained from the same person as specified in sanction advice. Funds under line are in accordance with the terms of sanction.

2. Third party deposit under Lien

Letter of lien has been signed by the beneficiary/depositor and his signatures are verified. Credit balance in third party account is sufficient to cover the amount of lien.

3. Deposit under lien lying with other branches

Instruments is original like FDR, TDR/DSC and bonds etc. duly discharged are lodged with CAD along with letter of lien for safe custody.

4. Equitable of Mortgage of Properties

In this mode of securities, properties of borrower/company/third person include land, building and machinery and mortgaged in favour of the bank and proper lien in record of concerned department up to a specific amount is marked to avoid transfer of property without banks clearance certificate.

5. Charge on Current/Fixed Assets

In this mode of security, current and fixed assets of the company are assessed from the balance sheet and as per requirement of the bank, charge on these from assets is registered with security and exchange commission of Pakistan.

6. Personal Guarantees

In this mode, personal guarantees are obtained from the borrower/guarantors/directors/partners/companies/individuals, as the case may be along with other above mentioned securities.

7. PROMISSORY NOTE

Some promissory note is also accepted as a security a promissory note is an instrument in writing containing an instruments in writing containing a uncontrolled undertaking signed by the marker, to pay, on demand or at a fixed or determinable future time a certain sum of money only, to or to the order of certain persons, or to the bearer or the instrument.

BAD DEBT

Definition

A bad debt is money owed to you that you can't co本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。