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Post-dated cheques are common and enforceable. [9] In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque A "post- dated cheque" is only a bill of exchange when it is written or drawn, it becomes a "cheque" when it is payable on demand.
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An antedated contract is a contract whose date is in the past; formally, a contract where the effective date on the contract is prior to the date on which the contract is executed (written, signed, made effective).
If you need more time to pay, there are a few things you can try in place of a postdated check. First, you could ask the person or entity that you owe money to for more time to pay.
Paying the bills requires good timing for deposits to come in — and payments to go out. The amount of time for a payment to post to your account varies by the financial institution.
A banker's acceptance starts with a deposit in the amount of the future payment plus fees. A time draft to be drawn on the deposit is issued for the payment at a future date, analogous to a post-dated check. The bank accepts (guarantees) the obligation to pay the holder of the draft, analogous to a cashier's check.
How a returned payment can impact your credit . Your payment history is a big part of your credit score (accounting for 35 percent of the score), and making payments on time helps build up your score.
These U.S. banks then process thousands of sub-accountholder checks and other transactions, including currency deposits, through the foreign financial institution's PTA. In most cases, little or no independent effort is expended to obtain or confirm information about the individual and business subaccountholders that use the PTAs.