Lockbox arrangements are one way for a firm to speed up the receipt of payments from customers.

Name: Lockbox arrangements are one way for a firm to speed up the receipt of payments from customers.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Lockbox arrangements involve customers sending their payments to a designated P.O. Box that is managed by a third-party service provider. The service provider then collects and processes the payments on behalf of the firm, which can speed up the receipt of payments and improve cash flow management.

Lockbox Arrangements Are One Way for a Firm to Speed