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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.
Technically, you can deposit or cash a postdated check as soon as you receive it. That’s because postdating a check does not obligate the person who receives it or the bank to honor the date on ...
A banker's acceptance is a document issued by a bank institution that represents a bank's commitment to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank.
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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 ...
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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).
A banker's draft (also called a bank cheque, bank draft in Canada or, in the US, a teller's check) is a cheque (or check) provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. [1]