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What is the difference between Non negotiable Crossing and Ac Payee Crossing?

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Question added by Jamal Hassan , Treasurer , Taj Gasoline Private Limited
Date Posted: 2013/12/03
Nadeem Khursheed
by Nadeem Khursheed , Officer Grade III , HABIB METROPOLITAN BANK LTD

non-negotiable crossing is simple crossing i.e parallel lines on the left top corner of instrument or the bearer is cancelled. that means instrument is only transferable. not cashable.

 

a/c payee crossing means the particlular instrument has to been transfered or cleared to any particular Name / co. only

 

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