Same as " Ex-coupon."
Coupons, Collection of. Coupons are almost always made payable to "bearer" that is, like a ten dollar bill, good in the hands of any one, therefore, care should be taken in transmitting them from one point to another. The simplest method on the part of an individual to collect the money due upon the coupon is to take it, about a week previous to its maturity, to his local bank, requesting the bank to attend to the collection for him. Banks have the safest and most thorough systems for coupon collecting.
If the owner of the coupon demands a receipt from the bank at such a time, the bank should be careful to give a receipt describing the coupon and stating that the same is taken for " collection only " unless the bank makes a charge for the collection, in which event it is fair that it should assume the responsibility for the safety of the coupon, and the return of the funds collected. Care should be taken, however, not to give a receipt which would in any way guarantee the payment of the coupon.
If it is necessary or more desirable to send coupons to some distant point and not through the local bank, registered mail is the usual method, although express companies are occasionally used for this purpose.