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Under the clearing rules of the Canadian Payments Association, a post-dated cheque cannot be cashed prior to the date written on it.If a Canadian financial institution inadvertently accepts and processes a cheque before the due date, the cheque writer may ask their financial institution to return the amount until the day before the cheque should have been cashed.
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.
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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.
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When writing out paper checks, there are several key pieces of information to include. Along with the payee's name and amount, you'll also need to add the date the check was written. If you'd like ...
Cheques were widely used in the retail market, between persons, and for other payments. The law rules that payments in cash cannot exceed 6,000 NIS, so cheque payment is a legal term when that maximum is reached. It was possible to pay at the cash desk at the supermarket or shop by cheque or issue a check for annual school payments for a child.
Most negative pickup contracts, either from motion picture studios or television networks, are bankable at pretty much dollar for dollar (less fees); if one holds a negative pickup contract, one essentially holds a cheque from the studio for the cost of the film, post-dated to the day one delivers the film to them. So, while the studio ...