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Are bank drafts from foreign correspondent banks required to comply with the requirements in Standard 006, Part A?

April 26, 2017Bank Banks comply correspondent drafts foreign requirements standard

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Are bank drafts from foreign correspondent banks required to comply with the requirements in Standard 006, Part A?

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While foreign correspondent banks do not technically have to comply with all the requirements of the CPA’s Standard 006, they should ensure that their cheques are imageable. Canadian correspondent FIs can arrange for these cheques or drafts to be tested quickly.