Check 21

September 10, 2019

Check 21 Summary Effective date: October 28, 2004 What it does: Authorizes a new negotiable instrument called a substitute check or image replacement document (IRD) Purpose: improve efficiency of check clearing in the U.S. Affect on AR: reduces float by a day or two, accelerates check collections Fraud concern & recommendations: Key security features of...

Become A Member

Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!

Join Today