The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.he Basic Bank Account Number (BBAN) format is decided by the national central bank or designated payment authority of each country. There is no consistency between the formats adopted. The national authority may register its BBAN format with SWIFT, but is not obliged to do so. It may adopt IBAN without registration.
Payment subordination allows the senior creditor the right to be paid first from all assets of the debtor or any other obligor of the debtor, regardless whether such assets constitute collateral security. The amount owed to the senior lender drives payment subordination terms, not the value of the pledged collateral. Provisions in the intercreditor agreement typically require all parties to pay-over to the senior creditor or its agent any proceeds obtained from shared collateral.
Fine line between disrespect and insubordination. Ivan Israelstam As employees become more confident of the protection they get from the various labour laws and from the CCMA they tend to be less subservient. This can result in employees refusing to obey their superior's instructions. For the employer such insubordination a nightmare. This is especially so where the employer is taken by surprise and is ill-equipped to deal with insubordinate employees. Due to the fact that true insubordination goes to the heart of the employment contract it is vital that both employers and employees understand completely what is expected: