Payment Methods for Railway Dues

<p>They must be well-known parties of good standing with regular monthly transactions with the railway. (B)</p> Signup and view all the answers

<p>20 days based on the peak month's figure during the previous 12 months. (D)</p> Signup and view all the answers

<p>Based on the average freight of the firm for a period of 30 days based on the average of previous 12 months. (D)</p> Signup and view all the answers

<p>Transactions for one month based on the peak month's figure. (C)</p> Signup and view all the answers

<p>Checks can be accepted for passenger fares if the amount is over $10. (C)</p> Signup and view all the answers

<p>Cheques should be written legibly by hand with dark ink and include an overage amount written at right angles. (B)</p> Signup and view all the answers

<p>The department must furnish the names, designations, and specimen signatures of authorized officers to the General Manager. (D)</p> Signup and view all the answers

<p>Notify the General Manager with specimen signatures, who will then inform the stations concerned and the Cash Office. (C)</p> Signup and view all the answers

<p>Rs 10 (A)</p> Signup and view all the answers

<p>The party should demonstrate creditworthiness and not be a habitual defaulter in the payment of railway dues. (D)</p> Signup and view all the answers

<p>A certificate confirming that the party is not a habitual defaulter in payment of railway dues. (A)</p> Signup and view all the answers

<p>The traffic is treated as paid and is not subjected to the surcharge leviable on 'To Pay' traffic. (B)</p> Signup and view all the answers

<p>The traffic will be treated as 'To Pay' and the party has to pay the surcharge. (B)</p> Signup and view all the answers

<p>Periodically, to ensure adequacy, and steps should be taken to enhance it if necessary. (B)</p> Signup and view all the answers

<p>Their F.A.&amp; C.A.Os (Financial Advisor &amp; Chief Accounts Officers). (D)</p> Signup and view all the answers

<p>A regular system of collection by couriers to ensure timely billing. (D)</p> Signup and view all the answers

<p>Every 5 day period. (D)</p> Signup and view all the answers

<p>Every 10 day period. (B)</p> Signup and view all the answers

<p>View the default seriously and consider discontinuing the facility. (A)</p> Signup and view all the answers

<p>A branch of the bank situated at the headquarter of the Zonal Railway. (D)</p> Signup and view all the answers

<p>A 'Letter of Credit' with a bank in the metropolis where the Railway's Traffic Accounts Office is situated. (C)</p> Signup and view all the answers

<p>The party's bank should issue a Demand Draft in favor of the Railways encashable where the Railways' cash office is situated. (C)</p> Signup and view all the answers

<p>A surcharge will become leviable. (D)</p> Signup and view all the answers

<p>Withdraw the Credit Note payment facility unless adequate reasons exist not to. (A)</p> Signup and view all the answers

<p>To formally establish the terms and conditions under which the 'weight only' payment facility is extended. (C)</p> Signup and view all the answers

<p>Paid traffic. (B)</p> Signup and view all the answers

<p>Credit Note number, booking station name, and other relevant particulars. (A)</p> Signup and view all the answers

<p>Their FA.&amp; C.A.Os (Financial Advisor &amp; Chief Accounts Officers). (C)</p> Signup and view all the answers

<p>The bills for the subsequent period/periods. (A)</p> Signup and view all the answers

<p>Cheque number, date, bank name, and amount. (C)</p> Signup and view all the answers

<p>A scheduled bank where the Railways' cash office is located. (D)</p> Signup and view all the answers

<p>Next month in the final bill for the actual freight charges due. (B)</p> Signup and view all the answers

<p>Payable in full by the parties. (D)</p> Signup and view all the answers

<p>Commission charges payable for encashing such Credit Notes/MICR cheques. (A)</p> Signup and view all the answers

<p>Enter into an agreement outlining the terms and conditions, in consultation with the Law Officer and the Associate Finance. (D)</p> Signup and view all the answers

<p>Defence Department (D)</p> Signup and view all the answers

<p>Credit Note-cum-Cheque payments. (B)</p> Signup and view all the answers

<p>To incorporate the terms and conditions for affording the Credit Note facility. (C)</p> Signup and view all the answers

<p>Cheques must be written legibly with bright ink and include a sum slightly in excess of the amount. (A)</p> Signup and view all the answers

<p>Account Payee only—Not negotiable. (B)</p> Signup and view all the answers

<p>Cheques must be over Rs 10 to be accepted. (A)</p> Signup and view all the answers

<p>Cheques must be written manually in legible hand using bright ink. (A)</p> Signup and view all the answers

<p>Stamp of the issuing office and signature of the authorized officer. (A)</p> Signup and view all the answers

<p>Cash only (B)</p> Signup and view all the answers

<p>Weight only system (A)</p> Signup and view all the answers

<p>Average freight for 30 days based on the last year (A)</p> Signup and view all the answers

<p>1,000 Rupees (A)</p> Signup and view all the answers

<p>The party must have regular monthly transactions. (C)</p> Signup and view all the answers

<p>Calculated as the peak month's figure for one month (D)</p> Signup and view all the answers

<p>Rupee Traveller cheques only (A)</p> Signup and view all the answers

<p>A deposit of cash (B)</p> Signup and view all the answers

<p>Government securities (C)</p> Signup and view all the answers

<p>Approved Scheduled Banks (B)</p> Signup and view all the answers

<p>Deposit receipts of private banks (A)</p> Signup and view all the answers

<p>Freight is calculated in the Accounts Office (A)</p> Signup and view all the answers

<p>Heads of Department (C)</p> Signup and view all the answers

<p>Counter-signature from an approved Scheduled Bank (A)</p> Signup and view all the answers

<p>Coal, mineral oils, and cement (D)</p> Signup and view all the answers

<p>As part of the security options listed (B)</p> Signup and view all the answers

<p>The party will be considered creditworthy. (B)</p> Signup and view all the answers

<p>Every 5 days for regular transactions. (A)</p> Signup and view all the answers

<p>The party must pay applicable surcharges. (D)</p> Signup and view all the answers

<p>A history of regular payments with no defaults. (B)</p> Signup and view all the answers

<p>A bank guarantee. (A)</p> Signup and view all the answers

<p>Periodically, to assure its adequacy. (D)</p> Signup and view all the answers

<p>Military authority traffic. (B)</p> Signup and view all the answers

<p>Involve their Finance and Accounts officials. (A)</p> Signup and view all the answers

<p>Accounts foils of invoices collected by couriers. (A)</p> Signup and view all the answers

<p>To average past transactions for accurate billing. (C)</p> Signup and view all the answers

<p>View it seriously and consider discontinuing the facility (B)</p> Signup and view all the answers

<p>On a branch at the headquarter of the Zonal Railway (C)</p> Signup and view all the answers

<p>A Letter of Credit with a bank (A)</p> Signup and view all the answers

<p>The bank should issue a Demand Draft payable at the Railway cash office (C)</p> Signup and view all the answers

<p>A surcharge will become leviable (D)</p> Signup and view all the answers

<p>An agreement with the Zonal Railway Administration (C)</p> Signup and view all the answers

<p>In the bills for subsequent periods (A)</p> Signup and view all the answers

<p>The cheque must not be accepted if from a different bank (D)</p> Signup and view all the answers

<p>Ensure immediate payment of the bills (A)</p> Signup and view all the answers

<p>Consider discontinuing the payment facility (C)</p> Signup and view all the answers

Railway dues must be paid in cash, except in special cases.

Payments can be made via cheques, drafts, or E-payments under certain conditions.

Credit Notes allow payment for frequent and reliable customers, requiring security deposit.

This system permits payment based on weight, also for established customers.

Security is the average freight for 30 days calculated from the last year.

Security amount varies: 20 days for cash, 1 month for non-cash security.

Traveller cheques from State Bank of India accepted at key railway stations.

A party eligible for facility extension based on payment history.

A party that frequently fails to pay dues on time.

Money or guarantee given to ensure payment obligations.

Additional charge imposed when depositing isn't made in advance.

Regular checks to ensure security deposits are adequate.

The process of sending bills regularly for prompt payment.

Invoices are created every five days for payment collection.

Temporary billing based on average transactions from prior months.

Regular checks on the adequacy of security deposits are required for parties using Credit Note payments.

Close oversight of payments against Credit Notes is essential; non-payments should lead to withdrawal of the facility.

Traffic booked and paid for at the time is recognized as paid traffic in railway terms.

Parties must issue a formal MICR cheque with the Credit Note for payments when this technology is used.

Relevant details like Credit Note number and booking station must be noted on the cheque's reverse.

Credit Notes must be drawn on scheduled banks, specifically at the branch where the railway cash office is located.

If Credit Notes are cashed at non-local branches, include commission charges in the total amount.

Railway Administration must draft an agreement detailing Credit Note terms with involved parties before providing the facility.

The Defence Department has specific instructions and forms for paying railway dues, including Military Credit Notes and Warrants.

Cheques must be drawn in favor of the Chief Cashier or nominated officer.

Parties must record specific cheque details on the Credit Note to ensure transaction clarity and traceability.

Cheques must be issued on printed forms with a special crossing: 'Account Payee only—Not negotiable'.

Cheques should be written with machines or by hand in bright ink, with sums written in words.

Cheques must not have erasures or overwritings, and abbreviations are not allowed.

A separate cheque is required for each transaction; payments under Rs 10 must be cash.

Full payment required for 'weight only' freight bills, with future adjustments for overcharges.

Future billing adjusts for actual freight charges paid previously under 'weight only'.

Track and ensure payments for 'weight only' bills are received; defaults may lead to service discontinuation.

Cheques must be drawn on specific bank branches; no out-station cheques accepted for 'weight only'.

Cash security deposit allows exemption from surcharge on 'To Pay' traffic; requires a Letter of Credit.

Parties must operate a Letter of Credit with a bank near the Railway's Traffic Accounts Office.

If no railway account exists, a Demand Draft is required, payable at the Railway cash office.

A surcharge applies if bills aren't paid within 10 days as stipulated.

All parties must sign an agreement to use the 'weight only' payment system with Zonal Railway.

The Zonal Railway Administration varies agreements as needed for 'weight only' payments in consultation with financial officers.

Deposit required based on average freight from the last year for Credit Notes usage.

Cheques accepted under special circumstances for railway dues.

Only well-known parties with good standing can use Credit Notes with security.

Military Credit Notes and specific forms are required for Defence Department payments.

Cheques must be drawn in favor of the Chief Cashier and follow specific writing formats.

Security deposits can be cash, government securities, or bank guarantees.

Government securities can be deposited at 5% below market value as security.

Guarantee bonds executed by State Bank of India can serve as security.

Bonds from approved banks can provide security through lodged securities.

Credit Notes for firms must follow specific formats in the manual.

The 'Weight only' system bases freight charges on actual weight.

'Weight only' system applies to selected goods like coal and cement.

Deposits for security can also be made in the Post Office Savings Bank.

Bonds issued by the Indian Railway Finance Corporation can also secure payments.

Parties must be creditworthy and not habitual defaulters to receive facilities.

The Senior DCM must certify that the party is not a habitual defaulter before granting facilities.

No outstanding freight or siding charges on the day the facility is granted.

Cash deposits for the 'weight only' system treat traffic as paid, avoiding surcharges.

Traffic without prior cash deposits is treated as 'To Pay', incurring surcharges.

Zonal Railways must create detailed procedures for 'weight only' traffic billing.

Establish a system to collect account foils for 'weight only' invoices timely.

Bills to be prepared every 5 days for normal traffic, 10 for loco coal or military adjustments.

Provisional bills for March based on averages of the previous three months.

Cheques must use printed forms and include 'Account Payee only—Not negotiable'.

Cheques should be written clearly, preferably using a cheque writing machine or bright ink by hand.

Cheques must not have erasures, over writings or abbreviations to ensure validity.

No cheques accepted below Rs 10; must be paid in cash instead.

Adjustments for overcharges are made in subsequent billing cycles following actual freight charges.

A 'weight only' bill requires full payment upfront, with potential adjustments later for overcharges.

Cheques for 'weight only' bills must be from specific bank branches; out-station cheques are not accepted.

A cash security deposit allows for exemption from surcharges on 'To Pay' traffic, with a Letter of Credit requirement.

Parties must maintain a Letter of Credit with a bank in the city's vicinity where railway accounts are managed.

If an account isn't maintained at the railway's bank, a Demand Draft must be issued for payments.

A surcharge applies if 'weight only' bills are not settled within the stipulated period of 10 days.

All parties availing the 'weight only' payment system must sign an agreement with Zonal Railway Administration.

Zonal Railway Administration can vary agreements regarding the 'weight only' payment system as needed.