1. Establishment, foundation, or organization created to pursue a particular type of endeavor, such as banking by a financial institution. 2. Consistent and organized pattern of behavior or activities (established by law or custom) that is self-regulating in accordance with generally accepted norms.
The letters written by one to another, and the answers thereto, make what is called the correspondence of the parties. 2. In general, the correspondence of the parties contains the best evidence of the facts to which it relates. See Letter, contracts; Proposal.
In general word collection letter definition is the notification sent by a supplier or seller to his customers or buyers for reminding the payment of dues (arising from credit sales) is called collection or dunning letters. In the business world, a huge business is done or credit.