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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.
The Insurance Act 1973 (Cth) sets minimum capital and solvency requirements for companies wanting to enter or operate in the insurance market. [1]Chapter 7 of the Corporations Act 2001 (Cth) regulates the way in which insurers and insurance agents and brokers carry on business and how they deal with the people they do business with and intend to do business with.
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.
You could also consider scheduling a future payment through your bank account if you think writing a postdated check might be too risky. Many banks offer online bill pay services that allow you to ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
The Insurance Act 2015 (c. 4) is a United Kingdom act of Parliament which makes significant reforms to insurance law. [1] It came into effect on 12 August 2016, [ 2 ] and follows on from the Consumer Insurance (Disclosure and Representations) Act 2012 ("CIDRA").