grandstand-the audience at a stadium or racetrack. audience-a gathering of spectators or listeners at a (usually public) performance; the audience applauded; someone in the audience began to cough.
Electronic Check Presentment - ECP. A process that allows financial institutions to exchange digital images of checks instead of paper to increase the speed of of the check cashing process. The signing of the Check Clearing for the 21st Century Act by President Bush permitted the use of electronic check presentment (ECP).
DEFINITION of 'Bounced Check'. A slang word for a check that cannot be processed because the writer has insufficient funds. A bounced check will often be returned to the writer along with a penalty fee for non-sufficient funds. Passing bad checks is illegal, and the crime can range from a misdemeanor to a felony, depending on the amounts involved and whether the activity involved crossing state lines.