Sample Retail Loan Application Design: Fill & Download for Free

1. ELIGIBILITY CRITERIA FOR EMPANELMENT OF COLLECTION/ RECOVERY AGENTS (CRA)• Management Consulting Firms, Accounting Firms, Firms offering Asset Collection Management Services and NBFCs having expertise in Asset Collection Management services would be eligible. The firms working as Collection Agency with Public Sector Banks would be given preference.• CRA employees shall be graduates from any reputed university in India / Abroad.Preference will be given to the firms having Accounting / Engineering / Law Professionals. Besides, Collection Agency shall have “DIRECT RECOVERY AGENT CERTIFICATE” issued by the concerned agency (IIBF --INDIAN INSTITUTE OF BANKING & FINANCE) as per the guidelines of RBI (IIBF).• CRA should be registered with State’s Shops and establishment Act 1948 or other mandatory registrations which are statutory in nature as per law.• The registration of the CRA shall be at least three years old.• CRA shall have experience of at least three years of experience in handling the Collection/ resolution of NPA accounts with Public Sector Bank(s).• CRA shall have completed at least five assignments successfully with Public Sector Bank(s) earlier.• The firm of CRA shall have PAN number.• CRA shall have a thorough knowledge of the extant RBI guidelines and also instructions/ circulars issued by RBI/ IIBF/ IBA time to time on Collection Agency.• CRA having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on “Collection Agency” and scope of work indicated by the Bank need not apply.• CRA blacklisted by any Bank need not apply for empanelment.• The Statutory and regulatory guidelines and changes in them issued by agencies concerned on Collection/ Recovery Agency from time to time should be adhered.__________________________________2. ELIGIBILITY CRITERIA FOR EMPANELMENT OF PRIVATE DETECTIVE AGENCY (PDA) AND SKIP TRACING AGENCY (STA)• Management Consulting Firms, Firms offering Private Detective Agency (PDA), Skip Tracing Agency Services and NBFCs having expertise in PDA and STA services would be eligible. The firms working as PDA and STA with Public Sector Banks would be given preference.• PDA and STA would be required to ascertain details of net worth, occupation, source of income, details of properties of the customers in their name/ guarantors and other assets as on date along with their current value, which may inter alia include- Immovable property in their names, residential house/ other buildings, if any, in their names, details of bank balances, deposits, investments etc. in their names and any other assets held in their name.• PDA and STA should be registered with Maharashtra Shops and establishment Act 1948 or other mandatory registrations which are statutory in nature as per law.• PDA and STA having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on and scope of work indicated by the Bank need not apply.• PDA and STA blacklisted by any Bank need not apply for empanelment.• The registration of the PDA and STA shall be at least three years old.• PDA and STA shall have experience of at least three years of experience in handling the assignments with Public Sector Bank(s).• PDA and STA shall have completed at least five assignments successfully with Public Sector Bank(s) earlier.• The firms of PDA and STA shall have a PAN number.• Employees of PDA and STA shall be graduates from any reputed university in India/ Abroad.• PDA and STA shall have a thorough knowledge of the extant RBI guidelines and also instructions/ circulars issued by RBI/ IIBF/ IBA.• The Statutory and regulatory guidelines issued by agencies concerned on PDA and STA from time to time should be adhered.__________________________________3. ELIGIBILITY CRITERIA FOR EMPANELMENT OF RCU/ FI/ DVA (Vendors)• Partnership Firm or a Limited Company, Management Consulting Firms, Firms offering RCU/ FI/ DVA and NBFCs having expertise in RCU/ FI/ DVA, owned by predominantly persons who are Indian Residents, would be eligible.• Vendors should be registered with Maharashtra Shops and establishment Act 1948 or other mandatory registrations with statutory authority as per law.• Vendors working as RCU/ FI/ DVA with Public Sector Banks/ Other Banks.• The Vendors should not been found guilty of misconduct in a professional capacity. The Vendors blacklisted by any Bank need not apply for empanelment.• The vendors having complaints before Police and also involved in court cases especially in the matters, which are in deviation to the extant RBI guidelines on “RCU/ FI/ DVA” and scope of work indicated by the Bank need not apply.• The employees working with Vendors should be HSC or Graduate in any discipline, experience of two years with reasonable analytical ability.• The Vendors should have at least two years of experience in handling RCU/ FI/ DVA. The registration of the Vendors shall be at least two years old.• The Vendors need to submit at least two reference letters and the Bank needs to verify the quality of services provided by the vendor with the referees before empanelling them. The referees shall be from Branch managers of banks/ NBFCs where previously the Vendor had done Verifications. The reference letter shall be on the letterhead of the bank or NBFC which providing the reference.• The Vendors should have infrastructure such as fax, computers, mail connection, scanner, etc.• The Office should be well connected to Railway Station, Bus Station and City Centre.• The firm of RCU/ FI/ DVA shall have PAN number.• The Statutory and regulatory guidelines issued by agencies concerned on RCU/FI/DVA from time to time should be adhered.FIELD INVESTIGATION AGENCIES (FI), RISK CONTAINMENT UNIT (RCU), DOCUMENT VERIFICATION AGENCY (DVA), COLLECTION/ RECOVERY AGENCY (RCA), PRIVATE DETECTIVE AGENCY (PDA), SKIP TRACING AGENCY (STA) who fulfill the above eligibility criteria only shall submit the application)_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________SKIP TRACING JOBS AND TRAININGSkip tracing is an industry term used to describe the process of locating a fugitive or a missing person that can’t be found at their place of residence or usual hangouts. “Skip” refers to the person being searched for (derived from the term “to skip town”) and “tracing” meaning the act of locating the skip.The act of skip tracing is most often used by bail bondsmen, bounty hunters, repossession agents, private investigators, debt collectors, and even journalists. Skip tracing, however, may be performed by a professional — called a skip tracer — who is an expert in this process.HOW IS SKIP TRACING PERFORMED?Skip tracing is performed by collecting information on the individual in question. All information recovered by the skip tracer is analyzed, verified, and used to determine the location of the individual. Skip tracing may involve gathering and analyzing a great deal of information or very little information, both of which have their own set of advantages and disadvantages.Although most skip tracers now head to the Internet to gather information on the whereabouts of individuals, many also employ social engineering, the art of calling on individuals who may have information about the subject.It is the job of the skip tracer to use any number of resources and databases to collect the required information. As such, skip tracing often involves accessing the following:o Phone number databaseso Credit reportso Credit card applicationso Job applicationso Criminal background checkso Loan applicationso Utility billso Public tax informationo Public records databaseso Courthouse recordso Department store loyalty cardso Air travel recordso Driver’s license/vehicle registration departmentsSKIP TRACING AND BOUNTY HUNTINGThe term skip tracing is most often used in the field of bail bonds and bounty hunting, and many bounty hunters and bail bondsmen use the services of skip tracers to help locate individuals who have failed to meet the conditions of their bond. Because of this, skip tracing and bounty hunting are often mistakenly used synonymously.Skip tracing is a unique process, however, and, although it is often a function of bounty hunting, the two actions are distinctly different. In short, bounty hunters can act as skip tracers but skip tracers cannot serve as bounty hunters.Both bail bondsmen and bounty hunters use skip tracing to locate an individual who has skipped bail. Because the defendant who skips bail does not want to be found for fear of being sent to prison (referred to as an intentional skip, versus an unintentional skip, which involves a person who isn’t trying to avoid detection), the job of skip tracing in the bail bonds field can be quite challenging.Skip tracing in bounty hunting involves assessing information on the subject and uncovering facts to help in the apprehension of the fugitive. Using both traditional records and online tools and databases, all the while abiding by federal, state and local laws, such as trespass laws and privacy laws, skip tracers collect evidence and compose reports that are then used by bounty hunters when attempting an apprehension of the fugitive.Skip tracing is not unlike detective work, as it involves scouring databases, understanding where and how to search for information, and following up on leads. Skip tracing professionals conduct interviews, engage in surveillance activities, and assess information about their subject.HOW TO BECOME A SKIP TRACER: JOBS AND TRAININGAlthough there are no formal training requirements for performing skip tracing, professionals who want to learn how to become a skip tracer should make it a priority to learn about state and federal laws regarding everything from surveillance laws to privacy laws. Individuals interested in jobs in skip tracing may also achieve more career opportunities by specializing in a specific area of skip tracing, such as bounty hunting or debt collecting.Many skip tracers receive their training on the job, working for bail bond agencies, private investigation firms, debt collection agencies, etc. A good working knowledge of computer systems and databases is required to achieve success in this profession, as is the ability to communicate well with people.Formal training for skip tracer jobs can be attained through seminars and workshops, which are often offered through professional associations, such as the National Association of Fugitive Recovery Agents and the American Recovery Association Inc. Online seminars in skip tracing are also a popular option for skip tracers and other professionals, such as bounty hunters, debt collectors, and private investigators, who want to learn about the latest online search tools and databases.OPPORTUNITIES FOR SKIP TRACERSA number of industries hire skip tracers as employees, including debt collection agencies, investigative firms, and even law enforcement agencies. However, perhaps just as many skip tracers work as independent contractors, with bounty hunters, bail bondsmen and private investigators using their services as needed.__________________FRAUD PREVENTION AND CONTROLo PROCESS OF FRAUD SAMPLING: ----APPLICATION FRAUD: - An Application for a credit card or loan using details intended to mislead the issuer, or a card or loan obtained by using false information, fake identity over application form can be said to be an application fraud.o To check the credibility of a person, contact point verification, income document verifications & KYC document verifications are the basic methods used.o An applicant may use an altered data in his income documents so as to improve the chances of approval of his application. Consequently, after the approval, the member generally fails to make payments.o The documents that are presented by the applicant at the time of applying for the card or loan may be any of the following: -INCOME DOCS.1. Income Tax Return (ITR) and Financial2. Form 163. Salary Slip / Salary Certificate / Appointment letter4. Credit card Statement of any other Bank he is a card member of Other than these documents.5. LIC policy documentBANK STATEMENTo KYC Docso ID Proof (Passport, DL, Voter ID, PAN, Ration Card etc.)o Address Proof (Passport, DL, Voter ID, PAN, Ration Card, Electricity Bill, Telephone Bill, Water Bill, Rent Agreement, Lease Deed, GPA, Partnership Deed etc.o It is an easily understood fact that alterations into the data of any of these documents or production of fake documents hence improving the profile of the applicant is not a very difficult task to be performed by intentional frauds.o A Fraud can make one or multiple applications to one or several card-issuing banks using false data and variations between applications in order to make some of them pass the bank’s screening process.o Almost all Card or Loan issuing Companies / Banks have contracts with vendors for sourcing their card applications. Since this is an outsourced activity, the types of frauds that we stated earlier / above are often committed by the employees of the vendors as well in order to improve their total number of applications sourced and consequently to meet their targets and get good commissions. Hence Issuers (Banks) often come across cases of application pumping, applications of non-existing persons or addresses.o We hence make attempts in several ways to help strengthen the banks improve the detection of fraudulent applications. Our first and foremost step towards this is to detect fraudulent/ suspicious applications and minimize fraud application losses to the Card Issuer banks / Companies. We use our personal skills/ experience and broad-based approaches to achieve effectiveness in fraud Checks. We pick samples from several applications of the same type of information/ documents and through our discreet /Non-discreet methods of verifications and investigations called fraud samplings to try to detect the fraud applications/ individuals / Sourcing agentso This Process is known as Fraud Sampling.SAMPLE PICK UP: -Executives of RCU or FCU on a daily basis check 100% of the applications received for any products from the banks and select some percentage of the lot, depending over the type of document received for sampling. All the applications that are checked are stamped “F C U Checked” and the ones that are selected for sampling are stamped as “Fraud Sample Picked”. No application without a “fraud sample checked” stamp over it can be sent for further processing in the mailroom of the bank. Besides the executives who review the applications put a chit over the application mentioning the reason sample picked.This chit helps the case to be verified and an action plan to be prepared over it once it is sent to Agency. The premise(s) from where the applications are selected/checked is defined by the bank.__________________Mystery Shopping is a process in which a person visits a retail store, restaurant, bank branch or any such location with the objective of measuring the quality of customer experience.Many companies define detailed processes and parameters to ensure that customers will have a good experience in their sales locations. Some examples are:How customers will be greetedo What is the maximum acceptable waiting timeo What should be the temperature of the facilityo How many products should be on display etc.To ensure that these processes are followed, these companies hire Mystery Shopping Companies to conduct regular audits on their locations.The mystery shopping companies (also called Mystery Shopping Agencies) find people who match the target customer profile, provide them a questionnaire for recording their experience, and provide some training on how to measure various parameters. This person is called a Mystery Shopper. These mystery shoppers then visit the location pretending to be a customer and make careful note of things they have been asked to measure. The data is reported to the mystery shopping company, who compiles and analyzes data gathered from different locations to help their clients measure and improve their customer experience.Mystery shoppers are usually freelancers or people who do this on the side and are paid a fee to conduct each mystery audit. If the audit involves purchasing or consuming anything - the mystery shoppers are usually provided a full or partial reimbursement of the money they spend as well._______________________- Initiating Seeding and Mystery Shopping activities.- Conducting various Agency audits including Collection Agency, FI Agency, RCU Agency, etc.- Monitoring the operations of the staff and recommending corrections for improvement.- Valuation of the fraud and assisting in the recovery.- The audit process includes Merchant Visits.- Receipt verification and data analysis from the MIS received.- Report preparation and retail client visits.___________________VERIFICATION OF APPLICATIONS SUBMITTED FOR CONSUMER BANK –ASSETS FOR IDENTIFYING AND MITIGATING FRAUDS PRIOR TO DISBURSEMENT.o Coordination and Monitoring of Verification agency for sampling activities done by the Agencyo Co-ordination with Credit Managers of various products for running daily operations smoothly.o Audit of the collection agencyo Any other activity assigned pertaining to RCU of Consumer Bank - Assetso MIS preparation and co-ordination with Head Officeo Supervising Ahmedabad and Rajkot RCU-RA activitiesTHE MEASURABLE WILL BE –o Control application Frauds by ensuring sampling efficiency at defined sampling percentageso Ensure optimum fraud hit rates with a sharp focus on document and profile related frauds.o Frauds prevented by sampling/screening processo Recovery cross-checks and agency controlso Quality of investigation and root cause analysiso Maintenance of TAT__________________________THE ROLE OF RISK CONTAINMENT UNIT (RCU) –CONSUMER BANKING AS A DEPARTMENT IS BROADLY CATEGORIZED INTO THE FOLLOWING:o Data Intelligence Team also known as Control team send alerts/ reports related to breach of bank defined limits/ suspicious trxn/ regulatory violations etco Pre A/C Opening Check / Verification on a sample basiso Onsite Process Support Visits for ensuring adherence to process.o Analytics for monitoring suspect transactionso Offsite monitoring via Compliance Certificate to confirm compliance to Regulatory items/ Processes/ Systems/ Controls by RL Branches.o Loss Data Management – Unusual Evento Case Management for Incidentso Investigation & Root Cause Analysis of fraud/dispute caseso Third-Party Product Analytics to ensure that the process of sale and product sold are right and suit the customer’s profile.o Analysis of Direct Banking Fraud Trends & Investigation/Action to be taken for limiting the risks.o Collection Receipt / Settlement Cases Calling on a random sampling basis to customers in order to confirm the genuineness of the receipts provided in records.o Agency Audit is conducted to check process adherence._____________________o Develop and sustain a system for Fraud identification, monitoring, investigating, reporting in order to minimize fraud losses and ensure timely recovery of fraud-related claims.o 100% screening & Sampling of Mortgage application based on scientific triggers.o Conducting end to end fraud document & profile investigation to reach out to fraud perpetratoro Weeding out negative elements (application /DSEs/companies) from the systemo Handling a team samplers for various risk control activitieso Cross-checking of FI reports & sharingo Cross-checking the authenticity & quality of RCU agency reports and vendor managemento DMA & DME pre empanelment market checks.o Continuous feedback to the policy team for updating the policy.o Audit & training of all the associated agencies viz., Direct Marketing Associates, Connectors, Collection agencies, Courier agencies, etc and report sharing with Business teams to align the process & system at our outsourced channels_____________________________BANK STATEMENT VALIDATION AND VERIFICATION WITH CONCERNED BANKo Criminal Records Checko Financial Competency Checko Financial Documents Checko Stability Checko Background Verification Checko Passport Checko All other Documents Authentication_________________________JOB ROLEo Verification of applications submitted for Home Loan / LAP Loan for identifying and mitigating frauds prior to disbursemento Coordination and Monitoring of Verification agency for sampling activities done by the Agencyo Co-ordination with Credit Managers of various products for running daily operations smoothlyo Audit of the collection agencyo Any other activity assigned pertaining to RCUo MIS preparation and co-ordination with Head Officeo Supervising RCU-RA activitiesTHE MEASURABLE WILL BEo Control application Frauds by ensuring sampling efficiency at defined sampling percentageso Ensure optimum fraud hit rates with a sharp focus on document and profile related fraudso Frauds prevented by sampling/screening processo Recovery cross-checks and agency controlso Quality of investigation and root cause analysiso Maintenance of TA__________________________BUSINESS VERTICALS: FRAUD & RISK CONTROLFRAUD & RISK CONTROL UNIT (FRC)ACTIVITIES CONDUCTED UNDER PFRC UNIT ARE AS BELOWEMPLOYEE BACKGROUND CHECKI. ADDRESS CHECKWe visit the stated address and verify whether the candidate is staying there. Details are confirmed through the neighbors and contacted person of the stated addressII. EDUCATION CHECKWe verify the same through direct contact with the authorized person/s in the student records department of the relevant educational institutionsIII. EMPLOYMENT CHECKWe check the duration of work, Designation, Salary, Reason of Exit, and any breach of contract been done by the candidate. We verify this information form HR unit/ reporting authority of the particular Company where candidate was employed previouslyIV. REFERENCE CHECKWe contact with the references provided and check the genuinely/ Integrity/ social background of the candidateV. CRIMINAL BACKGROUND CHECKWe verify the presence or absence of any criminal records through the police station whose jurisdiction the stated address of the candidate comes underVI. GLOBAL DATABASE CHECKWe identify any sanctions, debarments, disciplinary records and compliance violations (India / Global) through Data-BaseVII. DRUG TESTWe visit client premises to collect the required samples and check for the presence of the specified drugs. The findings are corroborated with a report from the laboratory________________________________RCU (RISK CONTAINMENT UNIT - RCU) ServicesI. SCREENING & SAMPLING PROCESSThis is Pre – Sanction activity done for Various Retail loan products and in this we do screening of 100% files logged in, and look for any subspecies documents/ profile. We collect the samples of those documents up to the prescribed percentage of logged-in files for Verification and detailed report with findings is submitted in agreed Turnaround timeII. DOCUMENT VERIFICATIONWe verify the authenticity of KYC/ Income and other documents with the issuing authorities which could be the registrar, the hospital, Passport office, and other concerned authorities and highlight any mismatch or discrepancy detected (during verification) between the details mentioned on the document and that found in the authority_________________________SEEDING & MYSTERY SHOPPINGSEEDING & MYSTERY SHOPPING IS AN ACTIVITY CONDUCTED TO CHECKo Customer identification process followed by respective Units / Associateso Apparatus, equipment, and infrastructure employed for conducting Activitieso Sacrosanctity of services and approach, the process being conducted by Units / AssociatesDEALER STOCKYARD AUDITDEALER STOCKYARD AUDIT IS AN ACTIVITY CONDUCTED TO CHECKo To identify or Analyze the Utilization of Funding done by Bank’s / Financial Institute to Dealer’s for their working Capitalo Analysis & Tracking of physical stock available at the stockyard, stock in transit and sold Stocko Re-finance for new additional stockINVESTIGATIONINVESTIGATION IS A DESK CHECK & FIELD CHECK CONDUCTED TO FIND OUTo The correctness of Documents or Information Provided by any Applicanto Checking of his background & Involvement in political/ illegal activityo Cross-checking his criminal backgroundo Checking of relationship with business associates of Customero Checking of his Lifestyle with connection to his monthly earningo Previous Employer Feedback checking on his integrity

Greetings there !The Various kinds of samplesThere are three broad classes of samples, one for each phase. These sequential phases are design, sales and production. Design related samples are to model design ideas and (ideally) finalize the pattern for production. Sales related samples are used to predict orders from buyers. The last type of samples are intended to test consistency in production.Technically (and optimally) speaking, all sampling should take place during the first phase of design (R&D) because you can’t get to selling (second phase) if you don’t have production (third phase) lined up. I’m aware practices are all over the map these days but I have tried to cover every contingency.This list may be overwhelming because I’ve attempted to be all inclusive but it does not mean you will need to have all of these kinds of samples produced. There is also quite a bit of overlap depending on your operation. By way of example are fit samples. If you’re managing your product development and having samples made from your patterns, your fit samples are the same thing as protos and would be fitted during the design phase. However, if you are outsourcing to a full package contractor, fit sampling might happen just before production. If you manage well, the different sample types can serve multiple purposes. For example, ideally your proto (prototype sample) is a fit sample and a sew by (pre-production) sample and maybe even a photo sample.Sample name: MuslinSynonyms: dummy, mock-up, drapeExplanation: This is a concept sample, often a rough rendition of a drape sewn together. Used primarily by designers who prefer to convey design ideas in actual fabric as part of their creation process instead of drawing a sketch. Or, they have an idea but can’t articulate it so they put fabric to mannequin instead. Also see.Sample name: Fit sample or First sampleSynonyms: original sample, sample test garment, development sample, design sampleExplanation: This is a sample made from the first (or production quality) pattern (which was made from the muslin or mock-up) and intended to test the designer’s idea or concept in the chosen fabrication. If design, fabrication and fit of this sample come out as planned and doesn’t need corrections, it is approved and becomes the prototype sample.Sample name: Fit sampleSynonyms: style reference, parent patternExplanation: [In addition to the context above in that fit and first sample are the same thing] In some companies, a fit sample can refer to an earlier proven style that fits well and is used as a point of reference for design iterations, providing the basis of new style development and fit. In such cases, this preceding fit sample would be called a style reference and its pattern would be a sort of “parent” pattern or block.Sample name: PrototypeSynonyms: protoExplanation: This sample is the result of previous iterations, the version that meets the designer’s test for execution. The fit should also be as expected so it would also be a fit sample for companies that use a separate designation. Ideally, a proto sample is also a sew by as described below. If you sew in house, the prototype should be used for costing and become the production sew-by.Sample name: Sew bySynonyms: pre-production sample, pre-pro, costing sample,Explanation: This sample reflects all of the desired construction details and is used to solicit contract sewing bids (CM&T). It is called sew by because contractors use this sample to create a costing or pre-production sample. Again, ideally the prototype sample is also a sew by. Particular care should be taken in designating a sample as a sew-by because for better or worse, the quote will be built on this. If one is producing domestically in house, the prototype sample should be the sew by for in house use to make sales samples. It is in sales sampling that the pattern is proven and final costs calculated.Sample name: Pre-productionSynonyms: pre-pro, P/P, costing sample, counter sample, salesman’s sample, sales sample, duplicatesExplanation: This sampling stage is to prove the pattern, test cost effectiveness and consistency in production whether it is done in house or outsourced to a contractor. If the (counter) sample is approved, it would become the production sew by. Ideally, pre-production samples (salesman’s samples) are used to pre-sell the product.Sample name: Photo sampleSynonyms: model sizes, flat samples, editorial samplesExplanation: These samples are made in smaller sizes for photo shoots intended for editorial and marketing, previously a size 4 but these days maybe a size 0. This may not be necessary if you can pin a garment strategically on the model. If you intend to shoot flats, you may need to cut the smaller size because it’s hard to get close enough to fit garment attributes in the frame. Some people know they will need smaller sizes for photography so they use this as their base size. Please don’t do that.Sample name: Salesman’s samplesSynonyms: duplicates, sales samples, selling samplesExplanation: Ideally the pre-production sample above can be used for sales and marketing. You would have duplicates of the approved pre-production or production sample made for each party. Domestic producers should prioritize the making of the sales samples as the test production run.Sample name: Show sampleSynonyms: showroom sample, merchandising sample, salesman’s sampleExplanation: Primarily intended for showrooms (but not exclusively) that market directly to editorial (fashion editors etc), you may need to have photo samples as above and for the same reasons. You may also need the mid range size for retail buyers who stop by. Confer with your showroom as to their preferences.Sample name: Sizing samplesSynonyms: size run, size setExplanation: Sample lot production of a style in all the intended sizes. Ideally you design sizes to target your customer profile early on in product development. This may not be possible if your silhouettes vary greatly between styles, meaning you will need to test sizes of various styles.Sample name: Production sampleSynonyms: counter sample, spec sampleExplanation: This is the final approved version of a style produced by whomever is doing production. Often a production test run is done and the output is gauged for quality and the samples ideally used for marketing, promotion, pre-sales and perhaps trunk sales. The quantity of units produced will vary from one to a percentage of the intended production lot size. This can be very expensive if the run includes all colorways and sizes.Sample name: Top of productionSynonyms: TOPExplanation: A TOP sample is pulled from the first production run (above).Sample name: Ship sampleSynonyms: shipment sample, fulfillment sampleExplanation: A sample that reflects what buyers will receive down to QC, folding, tagging, bagging, pre-packs (if applicable), labeling and final packaging included.—MISCELLANEOUS—Final SampleYou should always keep a final approved sample in house as a means to verify production results. It shouldn’t be loaned to anyone. In effect, your production counter sample should be the final sample but your contractor may use it in production as a sew by so you will need two.Revised or Revision SampleA revised sample is any kind of sample that is a correction of an earlier sample that was not approved. If a revised sample is approved, it would become known as whatever kind of sample it is intended to be.Counter SampleIn the broadest sense, a counter sample is akin to a counter offer and is produced by a full package service or sewing contractor. The underlying theme being that the counter sample reflects the contractor’s execution of what they perceive your expectations to be for whatever kind of sampling you’re doing at the time. Technically, a counter sample could be a prototype sample, pre-production, could become a sew-by for production, size run or whatever other kind of sample. As a practical matter, it is most often a pre-production or production sample used for costing. Ideally, it should be the final version. WYSIWYGSample SalesAs you can see, samples are all over the map so product samples may not be typical of a designer’s usual output. Samples can be a good buy (especially if they’re really a production over run) but buyer beware. Previously, most sample sales were held by salesmen who were selling off the previous line’s samples in order to recoup their purchasing costs.Sample plan or sampling planTieing this together with my opening, you’ve read of three categories of samples, namely design, sales and production. Design samples test design interpretation and readies the pattern for production. Sales related samples test buyer acceptance. The last type of samples have the purpose of testing application and consistency in production. Firms with large production runs have dedicated programs to test lots using mathematical formulas. These are called sampling plans. I’ve written about sampling plans in a context for smaller companies in Quality Control and SOW pt.1 and Quality Control and SOW pt.2 if you want to know more.Summary: As anyone will tell you, sampling can be costly if not managed well. Most small companies don’t need this many nor of each kind. If I haven’t bored you senseless and would like a breakdown of sampling suggestions appropriate for given scenarios say, small domestic manufacturer versus small outsourced manufacturer and even as compared to larger firms, let me know in comments.PS. If anyone wants to know, yes this was a necessary “homework” post that took longer than you’d imagine to write it.

This question is a bit of a brain puzzler, and there does not seem to be a very clear answer to this Question Resources and Information. a quick glance, I would say investments would pay more money to the bank than fees would, however, let's examine the facts and that way, one would come to their own conclusion, as it is also very obvious that fees bringing tremendous amounts of money to the bank. So we will start by defining like the bank, fees, and investments, and glean as much information as we could as we navigate the question and answer. Let's do this:BankDescriptionA bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries.How Banks WorkBY LEE ANN OBRINGERAccording to Britannica.com, a bank is:an institution that deals in money and its substitutes and provides other financial services. Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively.Banks are critical to our economy. The primary function of banks is to put their account holders' money to use by lending it out to others who can then use it to buy homes, businesses, send kids to college...When you deposit your money in the bank, your money goes into a big pool of money along with everyone else's, and your account is credited with the amount of your deposit. When you write checks or make withdrawals, that amount is deducted from your account balance. The interest you earn on your balance is also added to your account.Banks create money in the economy by making loans. The amount of money that banks can lend is directly affected by the reserve requirement set by the Federal Reserve. The reserve requirement is currently 3 percent to 10 percent of a bank's total deposits. This amount can be held either in cash on hand or in the bank's reserve account with the Fed. To see how this affects the economy, think about it like this. When a bank gets a deposit of $100, assuming a reserve requirement of 10 percent, the bank can then lend out $90. That $90 goes back into the economy, purchasing goods or services, and usually ends up deposited in another bank. That bank can then lend out $81 of that $90 deposit, and that $81 goes into the economy to purchase goods or services and ultimately is deposited into another bank that proceeds to lend out a percentage of it.In this way, money grows and flows throughout the community in a much greater amount than physically exists. That $100 makes a much larger ripple in the economy than you may realize!What do banks charge fees for?To make a profit and pay operating expenses, banks typically charge for the services they provide. When a bank lends you money, it charges interest on the loan. When you open a deposit account (checking or savings) there are fees for that as well. Even fee-free checking and savings accounts have some fees.Bank FeesREVIEWED BY WILL KENTONDEFINITION of Bank FeesBank fees are nominal fees for a variety of account set-up and maintenance, and minor transactional services for retail and business customers. Fees can be one-time, ongoing or related to penalties.BREAKING DOWN Bank FeesBanks fees seemingly lurk everywhere. There is a comprehensive disclosure of the menu of fees on banks' websites and in pamphlets with fine print. Customers must carefully read the disclosures to avoid surprises. Certain fees apply to all customers across the board, while others may be waived under certain conditions. While competition is a natural regulator of where a bank may apply fees and how much it thinks it can get away with, government authorities such as the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) stand by to field complaints and concerns from the public about fee-charging practices by banks.Sample List of Bank FeesWells Fargo charges retail customers fees for ATM transactions (with some exceptions), cashier's checks, money orders, overdrafts, bounced checks, overdraft protection, stop payment requests, wire transfers, safety deposit boxes, minimum account balance requirements, and others. Fees for merchant, payroll, and bill payment services apply for small businesses, while treasury management and corporate trust services offered by a bank to larger businesses carry fees. Also, fees for establishing and maintaining loans or lines of credit, the bread-and-butter of all banks, apply to all.Importance of Bank Fees to ProfitabilityThe primary source of revenue for a bank is net interest income, but a material portion of total revenue comes from bank fees. In 2017, fee income (booked under "noninterest income") for Wells Fargo accounted for approximately 35% of aggregate revenue. An individual fee may be nominal but they add up nicely for a bank. When the net interest margin for a bank is squeezed in a low-interest rate environment, bank fees provide a measure of stability to bank earnings.Investments:According to Wikipedia, investments are:To invest is to allocate money in the expectation of some benefit in the future.In finance, the benefit of an investment is called a return. The return may consist of a gain (or loss) realized from the sale of property or an investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, rental income, etc., or a combination of capital gain and income. The return may also include currency gains or losses due to changes in foreign currency exchange rates.Investors generally expect higher returns from riskier investments. When we make a low-risk investment, the return is also generally low.Investors, particularly novices, are often advised to adopt a particular investment strategy and diversify their portfolio. Diversification has the statistical effect of reducing overall risk.An investor may bear a risk of loss of some or all of their capital invested. Investment differs from arbitrage, in which profit is generated without investing capital or bearing risk.Savings bear the (normally remote) risk that the financial provider may default.Foreign currency savings also bear foreign exchange risk: if the currency of a savings account differs from the account holder's home currency, then there is the risk that the exchange rate between the two currencies will move unfavorably, so that the value of the savings account decreases, measured in the account holder's home currency.In contrast with savings, investments tend to carry more risk, in the form of both a wider variety of risk factors and a greater level of uncertaintyBelow Finra describes the types of investments:Types of InvestmentsThink of the various types of investments as tools that can help you achieve your financial goals. Each broad investment type—from bank products to stocks and bonds—has its own general set of features, risk factors and ways in which they can be used by investors.Learn more about the various types of investments below.StocksWhen you buy shares of a company’s stock, you own a piece of that company. Stocks come in a wide variety, and they often are described based on the company’s size, type, performance during market cycles and potential for short- and long-term growth. Learn more about your choices—from penny-stocks to large caps and more.BondsA bond is a loan an investor makes to an organization in exchange for interest payments over a specified term plus repayment of principal at the bond’s maturity date. Learn how corporate, muni, agency, Treasury and other types of bonds work.Investment FundsFunds—such as mutual funds, closed-end funds and exchange-traded funds—pool money from many investors and invest it according to a specific investment strategy. Funds can offer the diversification, professional management and a wide variety of investment strategies and styles. But not all funds are the same. Understand how they work, and research fund fees and expenses.Bank ProductsBanks and credit unions can provide a safe and convenient way to accumulate savings—and some banks offer services that can help you manage your money. Checking and savings accounts offer liquidity and flexibility. Find out more about these and other Bank productsOptionsOptions are contracts that give the purchaser the right, but not the obligation, to buy or sell a security, such as a stock or exchange-traded fund, at a fixed price within a specific period of time. It pays to learn about different types of options, trading strategies and the risks involved.AnnuitiesAn annuity is a contract between you and an insurance company, in which the company promises to make periodic payments, either starting immediately—called an immediate annuity—or at some future time—a deferred annuity. Learn about the different types of annuitiesRetirementNumerous types of investments come into play when saving for retirement and managing income once you retire. For saving, tax-advantaged retirement options such as a 401(k) or an IRA can be a smart choice. Managing retirement income may require moving out of certain investments and into ones that are better suited to a retirement lifestyle.Saving for EducationFunding education begins with savings. Learn smart ways to save, including 529 Education Savings Plans and Education Savings Accounts. We’ll help you navigate your savings options.Alternative and Complex ProductsThese products include notes with principal protection and high-yield bonds that have lower credit ratings and a higher risk of default than traditional investments but offer more attractive rates of return. Learn about their features, risks and potential advantages.Initial Coin Offerings and CryptocurrenciesThese are speculative investments that come with significant uncertainty and many risks. Before you consider an investment in ICOs or cryptocurrencies, learn more.Commodity FuturesCommodity futures contracts are agreements to buy or sell a specific quantity of a commodity at a specified price on a particular date in the future. Commodities include metals, oil, grains, and animal products, as well as financial instruments and currencies. With limited exceptions, trading in futures contracts must be executed on the floor of a commodity exchange.Security FuturesFederal regulations permit trading in futures contracts on single stocks, also known as single stock futures, and certain security indices. Learn more about security futures, how they differ from stock options and the risks they can pose.InsuranceLife insurance products come in various forms, including term life, whole life, and universal life policies. There also are variations on these—variable life insurance and variable universal life—which are considered securities. See how insurance products may fit into an overall financial plan.Ever wonder how banks make their money? They can't be offering to store your money for free? You're right; here's how banks earn money.How do banks make money?Yes, banks make a lot of money banks from charging borrowers interest, but the fees banks change are just as lucrative.Account fees. Some typical financial products that charge fees are checking accounts, investment accounts, and credit cards. These fees are said to be for “maintenances purposes” even though maintaining these accounts costs banks relatively little.ATM fees. There will be times when you can’t find your bank’s ATM and you must settle for another ATM just to get some cash. Well, that’s probably going to cost you $3. Such situations happen all the time and just mean more money for banks.Penalty charges. Banks love to slap on a penalty fee for something a customer’s mishaps. It could a credit card payment that you sent in at 5:05 PM. It could be a check written for an amount that was one penny over what you had in your checking account. Whatever it may be, expect to pay a late fee or a notorious overdraft fee or between $25 and $40. It sucks for customers, but the banks are having a blast.Commissions. Most banks will have investment divisions that often function as full-service brokerages. Of course, their commission fees for making trades are higher than most discount brokers.Application fees. Whenever a prospective borrower applies for a loan (especially a home loan) many banks charge a loan origination or application fee. And, they can take the liberty of including this fee amount into the principal of your loan—which means you’ll pay interest on it too! (So if your loan application fee is $100 and your bankrolls it into a 30-year mortgage at five percent APR, you’ll pay $94.40 in interest just on the $100 fee).Banks are just like other businesses. Their product just happens to be money. Other businesses sell widgets or services; banks sell money -- in the form of loans, certificates of deposit (CDs) and other financial products. They make money on the interest they charge on loans because that interest is higher than the interest they pay on depositors' accounts.The interest rate a bank charges its borrowers depends on both the number of people who want to borrow and the amount of money the bank has available to lend. As we mentioned in the previous section, the amount available to lend also depends upon the reserve requirement the Federal Reserve Board has set. At the same time, it may also be affected by the fund's rate, which is the interest rate that banks charge each other for short-term loans to meet their reserve requirements. Check out How the Fed Works for more on how the Fed influences the economy.Loaning money is also inherently risky. A bank never really knows if it'll get that money back. Therefore, the riskier the loan the higher the interest rate the bank charges. While paying interest may not seem to be a great financial move in some respects, it really is a small price to pay for using someone else's money. Imagine having to save all of the money you needed in order to buy a house. We wouldn't be able to buy houses until we retired!Banks also charge fees for services like checking, ATM access, and overdraft protection. Loans have their own set of fees that go along with them. Another source of income for banks is investments and securities.How investment banks make their money. ... They make most of their money by charging a higher rate of interest to borrowers than they pay to savers. Investment banks, on the other hand, make their money by selling services to customers such as companies, governments and investment funds (fund managers and hedge fundsHow Investment Banks Make Money (JPM, GS)BY SEAN ROSSUpdated Sep 22, 2016Investment banks are designed to finance or facilitate trade and investment on a large scale. But that's a simplistic view of how investment banks make money. There's a lot more to what they really do. When they work properly, these services make markets more liquid, reduce uncertainty and get rid of inefficiencies by smoothing out spreads.Brokerage and Underwriting ServicesLike traditional intermediaries, investment banks connect buyers and sellers in different markets. For this service, they charge a commission on successful trades. The trades range from megadeals to simple stock trades.Investment banks also perform underwriting services for capital raises. For example, a bank might buy stock in an initial public offering (IPO), market the shares to investors and then sell the shares for a profit. This works like an arbitrage opportunity. There is a risk that the bank will be unable to sell the shares for a higher price, so the investment bank might lose money on the trade. To combat this risk, some investment banks charge a flat fee for the underwriting process.Mergers and AcquisitionsInvestment banks charge fees to act as advisors for spinoffs and mergers and acquisitions (M&A). In a spinoff, the target company sells a piece of its operation to improve efficiency or inject cash flow. Acquisitions occur whenever one company buys another company. Mergers take place when two companies combine to form one entity. These are often extremely complicated deals and require a lot of legal and financial help, especially for companies unfamiliar with the process.Creating Collateralized ProductsInvestment banks might take lots of smaller loans, such as mortgages, and then package those into one tradeable security. The concept is somewhat similar to a bond mutual fund, except the instrument is a collection of smaller debt obligations rather than corporate and government bonds. Investment banks have to purchase the loans to package and sell them, so they profit by buying cheap and selling at higher prices on the market.Proprietary TradingIn the proprietary trading process, the investment bank deploys its own capital into the financial markets. Company traders look for arbitrage opportunities or other strong, shorter-term investments. Traders who guess correctly can make a lot of money very quickly. Alternatively, poor traders tend to lose money and risk losing their jobs. Proprietary trading has been much less prevalent since the financial crisis of 2008 and 2009.Dark PoolsSuppose an institutional investor wants to sell millions of shares, a value that's large enough to impact markets right away. However, the market might see a big order come through. This leaves an opportunity for an aggressive trader with high-speed technology to front-run the sale in an attempt to profit from the coming move.Investment banks established dark pools to attract institutional sellers to a secretive and anonymous market to prevent front-running. The bank charges a fee for the service. Dark pools are very controversial and came under added scrutiny after Michael Lewis authored "Flash Boys," which shed light on shady dark-pool activity.SwapsInvestment bankers sometimes make money through swaps. Swaps create profit opportunities through a complicated form of arbitrage, where the investment bank brokers a deal between two parties that are trading their respective cash flows. The most common swaps occur whenever two parties realize they might mutually benefit from a change in a benchmark, such as interest rates or exchange rates.Market MakingMarket making works best when the bank has a large inventory of stock with high trade frequency. The bank can quote a buy price and sell price and earn the small difference between the two prices, also known as the bid-ask spread.Investment ResearchMajor investment banks can also sell direct research to financial specialists. Money managers often purchase research from large institutions, such as JPMorgan Chase & Co. (NYSE: JPM) and Goldman Sachs Group Inc. (NYSE: GS), to make better investing decisions.Asset ManagementIn other cases, investment banks directly serve as asset managers to large clients. The bank might have internal fund departments, including internal hedge funds, which often come with attractive fee structures. Asset management can be quite lucrative because the client portfolios are large.Investment banks also partner with or create venture capital or private equity funds to raise money and invest in private assets. These are the fix-and-flip experts in the business governance world. The idea is to buy a promising target company, often with a lot of leverage, and then resell or take the company public after it becomes more valuable.As I said at the beginning, it is easy to look at the big investments that banks engage in and be tempted to say that investments would make much more money for banks, but also remember that investments are also very risky business, while fees are deducted from your account regardless to your say-so and at the banks convenience. So there you are, there’s a lot of information to absorb, hopes that it helps.