Replacing Damaged and Torn US Currency

Every year the United States Treasury redeems over $30 million worth of damaged and mutilated paper money — currency. Here is how to get damaged or mutilated U.S. money replaced. Replacing US Currency Damaged U.S. currency—paper bills—that have merely been damaged can typically be replaced at a bank, while bills that have been mutilated must be mailed to the U.S. Bureau of Engraving and Printing for replacement.To be considered damaged but not mutilated, at least one-half of the damaged bill must be clearly identifiable. Bills that are dirty, defaced, or torn can typically be replaced at a bank.Bills that have deteriorated from being buried in soil or have been damaged by fire, flooding, chemicals, explosions, animals or insects are more likely to be considered mutilated.The Bureau of Engraving and Printing (BEP) does not charge for inspecting or replacing mutilated currency, however, the BEP must be able to identify the mutilated bills as being valid U.S. currency. The correct procedure for replacing US currency depends on how and how badly the money has been damaged. According to the Bureau of Engraving and Printing (BEP), U.S. currency that has been damaged, but not mutilated, can usually be redeemed at a bank, while truly mutilated bills require special handling. What is Damaged, but Not Mutilated Money? Damaged but not mutilated currency includes any bill that is CLEARLY more than one-half of the original bill and does not require any special examination or investigation to determine its value. Examples of non-mutilated bills include those that are badly soiled, dirty, defaced, disintegrated, limp, torn or otherwise worn out.These damaged-but-not-mutilated bills can be exchanged through your local bank. Replacing Mutilated Currency The Bureau of Engraving and Printing considers mutilated money to be less than about 51% of the original bill or any bill so badly damaged that its value cannot be determined without special handling and examination. The mutilated currency has most often been damaged by fire, flooding, chemicals, explosions, animals or insects. Another very common source of damage to currency is fossilization or deterioration from being directly buried in soil for long periods of time. The BEP redeems mutilated currency as a free public service. Mutilated currency must be mailed or personally delivered to the Bureau of Engraving and Printing. Here, according to the U.S. Treasury is how to do it: When mutilated currency is submitted, a letter should be included stating the estimated value of the currency and an explanation of how the currency became mutilated. Each case is carefully examined by an experienced mutilated currency examiner. The amount of time needed to process each case varies with its complexity and the case workload of the examiner. However, the BEP warns that heavy volume and the precise nature of the work may result in longer wait times. The Director of the Bureau of Engraving and Printing has the final authority for the settlement of mutilated currency claims. Although Treasury examiners are usually able to determine the amount and value of the mutilated currency, carefully packaging the currency is essential to prevent additional damage. In general, the BEP will replace mutilated currency if: More than 50% of a bill that can be identified as United States currency is present, along with sufficient remnants of any relevant security features; or,Less than 50% of a bill identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrate to the satisfaction of the Treasury that the missing portions have been totally destroyed. Every year, the Treasury Department handles approximately 30,000 claims and redeems mutilated currency valued at over $30 million. Procedure for Mailing Mutilated Currency The following procedures should be used when packing mutilated currency for examination and possible replacement by the Bureau of Engraving and Printing: Regardless of the condition of the currency, do not disturb the fragments any more than is absolutely necessary.If the currency is brittle or inclined to fall apart, pack it carefully in plastic and cotton without disturbing the fragments and place the package in a secure container.If the currency was mutilated in a purse, box, or another container, it should be left in the container to protect the fragments from further damage.If it is absolutely necessary to remove the fragments from the container, send the container along with the currency and any other contents that may have currency fragments attached.If the currency was flat when mutilated, do not roll or fold the notes.If the currency was rolled up when mutilated, do not attempt to unroll or straighten it out.If coins or any other metal is mixed with the currency, carefully remove it. Any fused, melted, or otherwise mutilated coins should be sent to, Superintendent U. S. Mint, Post Office Box 400 Philadelphia, PA. 19105. Mailing Address for Mutilated Currency Mutilated currency, packed according to the above instructions, should be mailed to: Department of the TreasuryBureau of Engraving and PrintingOffice of Currency StandardsP. O. Box 37048 Washington, D. C. 20013 All mutilated currency should be sent by Registered Mail, Return Receipt Requested.  Purchasing postal insurance on the shipment is the responsibility of the sender. For cases that are expected to take longer than four weeks to process, the Bureau of Engraving and Printing will issue a written confirmation of receipt. To obtain information about your mutilated currency shipment, contact the Mutilated Currency Division at 1-866-575-2361 or 202-874-8897. Personal deliveries of mutilated currency to the Bureau of Engraving and Printing are accepted between the hours of 8:00 A.M. and 2:00 P.M., Monday through Friday, except holidays. The Office of Currency Standards is located at 14th and C Streets, S. W., Washington, D. C. What About Damaged Coins? The United States Mint will replace uncurrent (badly worn) coins with new coins of the same denomination and will redeem mutilated coins for their current scrap metal value. Uncurrent coins are whole coins but are worn or reduced in weight by natural abrasion. They are easily recognizable as to genuineness and denomination and are in such condition that coin sorting and counting machines will accept them. Undercut coins that are too badly worn to be redeemed by commercial banks may be redeemed only at  Federal Reserve Banks and branches. Uncurrent coins are replaced with new coins of the same denomination by the Federal Reserve Banks and then forwarded to the United States Mint. Mutilated coins, on the other hand, are coins that are bent, broken, not whole, or fused or melted together.

Subcultures and Subcultural Marketing - 1424 Words

Subcultures and Subcultural Marketing Introduction We are brought up to follow the beliefs, values, and customs of our society and to avoid behavior that is judged â€Å"unacceptable† or considered to be taboo. In addition to segmenting in terms of cultural factors, marketers also segment overall societies into smaller subgroups or subcultures that consist of people who are similar in terms of their ethnic origin, their customs, and the ways they behave. These subcultures provide important marketing opportunities for astute marketing strategists. So, now our discussion in this chapter on subcultures will be more focused compared to the other chapters. Instead of examining the dominant beliefs, values, and customs that exist within an†¦show more content†¦In spite of its diversity, marketing strategies can be developed for this group. Many marketers are now becoming multicultural in their marketing activities by trying to appeal to a variety of cultures at the same time. Although the diversity of the Indian melting pot may be unique, there are many important ethnic groups in other areas of the world. Finally, religious beliefs and values can influence consumer. 2. Age, Gender, and Household Influences on Consumer Behavior I. How Age Affects Consumer Behavior A. Generation X Market, B. Generation Y Market, C. Seniors, D. Baby Boomers Market. II. How Gender Affects Consumer Behavior A. Sex Roles Have Changed, B. Differences in Acquisition and Consumption Behaviors. III. How the Household Influences Consumer Behavior A. Types of Households, B. Changing Trends in Household Structure. IV. Roles That Household Members Play A. Roles of Spouses, B. The Roles of Children, C. Household Decision Making Versus Household Consumption Behavior. *Age has a major influence on customer behavior †¢ Chronological versus psychological age. *Needs and wants vary with age †¢ Lifetime revenue: estimated revenue over a customer’s lifetime. *Population age changes imply major shifts in markets and values/demand -E.g. ageing baby boomers. Let’s look at the four major age groups. Teens, who needShow MoreRelatedHip Hop Rap Music And Subculture1643 Words   |  7 Pages Hip-hop Rap Music and Subculture The topic I have chosen for this review is the association between a particular music genre and a subculture. In particular, the issue of focus is the association of the hip-hop rap genre with the black youth subculture in America. As a youth subculture, hip-hop emerged in the 1970s from New York City’s borough of the Bronx. The African American community was the root of the music genre, which gained popularity in the 1980s and 1990s. 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Distributive Bargaining and Integrative Negotiation

Question: Discuss about theDistributive Bargaining and Integrative Negotiation. Answer: Introduction The interaction between two or more than two persons which is aimed at achieving a beneficial outcome is known as negotiation process (Pruitt, 2013). The negotiation process is carried out in such a way that there is mutual advantage of both the parties. This process comes to a suitable conclusion after discussion with both the parties. The aim of negotiation process is to resolve a conflict and gain the desired outcomes (Rubin Brown, 2013). It is a common process in both personal as well as professional life of an individual. This paper would analyze the difference between the key concepts of negotiation such as integrative negotiation and distributive bargaining (Lewicki et al., 2002). The two concepts are critically evaluated with the help of conflict experiences. Discussion The distributive bargaining power comes into play when there are involvements of people who are interacting for the first time and they are not likely to do so in the future (Zahariadis, 2016). It implies that there is finite amount in the distribution of the materials. The approach takes place when the associated parties are making an effort to divide something. The disputant in this type of bargaining are strangers to each other (Zahariadis, 2016). It is one time interaction with each other and there are least possibilities of forming a relationship between the key entities involved in this type of bargaining (Nupia, 2013). They interact only for the purpose of effectively carrying out the deal in question. The parties are least concerned about how the other parties perceiving themselves as there are least possibilities of them meeting in the future (Lewicki et al., 2002). They are more focused with their individual gains and give least priority to group dynamics. The distributive bargaining strategy is often compared with the fixed pie strategy (Jeong, 2016). This is because this strategy is involved with the allocation of finite resources within the negotiators. There are a limited number of resources and there is subsequent debate regarding the allocation of the resources (Jeong, 2016). This type of bargaining strategy initiates an environment of intense competition in which every party tries to secure a bigger portion of the available resources. This strategy makes the participants assess the competitive position of the other parties (Jeong, 2016). Every parties act against each other and there is an increase in the competition level, which can be unhealthy competition at times (Acheson, 2016). The distributive bargaining strategy fosters a reserved as well as defensive approach. There can be increased probability of conflicts in the distributive bargaining approach (Snyder Diesing, 2015). This strategy is similar to a win-lose argument (Lewicki et al., 2002). This is because the distributive bargaining strategy involves the distribution of a fixed resource such as financial resources. There is no possibility of expansion of the resources and every party has their own demands to do so (Snyder Diesing, 2015). For example, if a fixed financial resourceof 2000 $ needs to be distributed among 5 people, then it is obvious that every individual would be entitled to receive 400$ each. However, the conflict arises when one party is eager to receive $500 and no one else is eager to give away their shares or receive less than $400. The integrative negotiation, on the other hand, is similar to a situation in which there is a win-win approach in order to resolve a dispute (Moore, 2014). It is contrast to the distributive bargaining strategy and it is concerned with equal benefit to all the negotiating parties involved in the dispute (Lewicki et al., 2002). It is opposite to the distributive bargaining approach in which the concerned parties aimed at increasing total share with the help of mutual cooperation (Illes, Ellemers Harinck, 2014). Each party of the dispute perceives the other party as collaborators or friends since this strategy is based on the joint efforts as well as common interests (Illes, Ellemers Harinck, 2014). This is in contrast to the distributive bargaining strategy in which the parties conceive each other as competitors. There can be cooperation with all the concerning parties and this strategy involves a high degree of trust as well as the helps in the formation of a relationship between t he parties (Carneiro et al., 2013). As the concerned parties are working towards a common goal, this approach fosters team building capabilities among the disputed parties (Illes, Ellemers Harinck, 2014). There are multiple issues that are addressed by integrative negotiation unlike distributive negotiation that involve a single issue (Nolan-Haley, 2013). In integrative negotiation, the concerned parties receive something concerned with value in the process of trading something that has a less value (Liu, 2014). This strategy requires the sharing of information between the parties in the dispute and this helps in the understanding of each others interest (Nolan-Haley, 2013). This strategy is helpful in seeking solutions to specific problems when understanding all the parameters. An example that illustrates the integrative negotiation is that when two girls want the same orange, there would be a dispute, which can be solved by their mother, if she acts as a moderator. If the mother interacts with the girls and tries to know their interests, then this issue would be solved without compromising the individual interests of the task. The integrative bargaining would let the mother know that one girl may be interested in the orange while the other may be interested in the peel only to make some cookies. This would ensure that the girls would receive everything that they would have wished to. Conclusion The distributive bargaining as well as integrative negotiation is a common phenomenon in both personal as well as professional life. These are the most common forms of negotiations that are used by almost all individuals. There are instances when these two categories of negotiation coincide. This paper gives a better understanding of the two types of negotiations so that the individuals can use them in different suitable situations. It would also help in enhancing the interpersonal relations as the individuals gain an increased awareness regarding the process of negotiation. References Acheson, D. (2016). 6 Negotiation dynamics.International Negotiation: Process and Strategies, 107. Carneiro, D., Novais, P., Andrade, F., Zeleznikow, J., Neves, J. (2013). Using Case-Based Reasoning and Principled Negotiation to provide decision support for dispute resolution.Knowledge and Information Systems,36(3), 789-826. Illes, R., Ellemers, N., Harinck, F. (2014). Mediating Value Conflicts.Conflict Resolution Quarterly,31(3), 331-354. Jeong, H. W. (2016).International Negotiation: Process and Strategies. Cambridge University Press. Liu, L. A. (2014). Addressing reviewer comments as an integrative negotiation.Management and Organization Review,10(2), 183-190. Moore, C. W. (2014).The mediation process: Practical strategies for resolving conflict. John Wiley Sons. Nolan-Haley, J. (2013).Alternative Dispute Resolution in a Nutshell, 4th. West Academic. Nupia, O. (2013). Distributive politics, number of parties, ideological polarization, and bargaining power.The Journal of Politics,75(02), 410-421. Pruitt, D. G. (2013).Negotiation behavior. Academic Press. Rubin, J. Z., Brown, B. R. (2013).The social psychology of bargaining and negotiation. Elsevier. Snyder, G. H., Diesing, P. (2015).Conflict among nations: Bargaining, decision making, and system structure in international crises. Princeton University Press. Zahariadis, N. (2016). Bargaining power and negotiation strategy: examining the Greek bailouts, 20102015.Journal of European Public Policy, 1-20. Lewicki, R.J., Saunders, Barry, B., Saunders, Minton,J.W. (2002), Negotiation, 4th edition, McGraw-Hill Neweredition (2011).