Posted By Administrator
Lockbox banking is a banking option that has been adopted by a good number of medium and large scale businesses which have extensive operations and a lot of customers. These banking options allow customers who have accessed the goods and services of a business to send the payments directly to the bank and not to the business itself, through the post office. It is a banking option that is only offered to commercial customers and not retail customers due to the amount of money that is generated and handled over.
This type of banking is very beneficial to medium and large scale businesses in the sense that it relives these businesses of the task of handling money, counting it, drawing up checks and then depositing it in the bank. As may be expected these is an intricate task that requires a substantial man-power to handle these payment in a timely and accurate manner. This is not always possible for large and medium scale businesses and there is the possibility of loss of money that may upset the accounts of the business. Thus with lockbox banking options a business does not have to employ extra labor to handle its payment and what’s more is that banks use automated machines that are able to process the payments in a feasible manner.
Banks that offer lockbox banking options have set up a system that allows them to clear up the lockboxes at frequent time intervals through out the day. This means that large scale and medium sized businesses do not experience a backlog of unprocessed payments in cash or as checks. Banks also use the automated machines to process data and thus develop a report that is delivered into the account of the businesses. The fact that report s and copies of checks are delivered to the businesses ensures that there is sufficient proof of transaction in the event that a dispute arises.
Posted By Administrator
This will surely put a smile on the face of investors out there, particularly those who have been into the trade for some time now. Treasury marketable securities are set to expand by April and will be available to the public in $100 minimums. Or so BankNews.com has reported.
In a news article yesterday, BankNews.com shares that the Treasury Department has announced that all treasury bills, notes, bonds and TIPS can now be availed and transferred in multiples of $100, replacing the previous $1,000.
This is a welcome development in the treasury market since more investors can avail of the lowered rates. I am sure a lot of people will change the way they look at treasury notes now.
Posted By Administrator
Washington state offers two types of specialist contractor licenses: plumbing and electrical. Electricians and plumbers are required to obtain a Washington state contractor license before they can operate a business.
Plumbing
In order to be able to perform any of the following activities in a building in Washington, you are required to be certified by the Department of Labor and Industries: installation, modification or repair of potable water, medical gas systems or liquid waste.
For plumbing contractors the Department issues certificates for trainee, journeyman or specialty/residential plumbers and medical gas piping installers. Each of these specialities have different requirements and you have to pass a written examination in order to qualify for the contractors license.
The Washington state contractor license qualifications also requires supporting documentation of your work experience. The requirements are 6,000 hours for specialty plumber and 8,000 hours for a journeyman plumber, where 4,000 hours must be for commercial or industrial work.
Electrical
The Department of Labor and Industries in Washington State issues five different types of contractor licenses for electrical work. They are trainee, contractor, journeyman, administrator and specialty.
Practical experience requirements include: 2 years of electrical work for the specialty level, and 4 years for the journeyman level, which must include a minimum of 2 years in new commercial or industrial electrical installations.
The written exam for a Washington state contractor license covers the following areas:
- General Journeyman
- Residential
- Pump and Irrigation
- Domestic Well
- HVAC/Refrigeration
- Non-residential Maintenance
- Non-residential Lighting
- Residential Maintenance
- Restricted Non-residential Maintenance
- Appliance Repair
- Equipment Repair
- Door, Gate and Similar Systems
More information can be obtained from the Departments website at http://www.lni.wa.gov/TradesLicensing/.