Is it safe to give post dated Cheques?
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Is it safe to give post dated Cheques?
There is no harm giving check without date and amount on it. But please make sure to make the cheque account payee & write name on it, i.e. the name of financial institution. Please not do not give cheque without name of that financial institution from which you have taken loan & also make it account payee.
Is issuing post dated Cheques illegal?
Post-dated cheques are those cheques which are issued by the payer to the payee but one can draw them only on a future date. So, they are enforceable as a negotiable instrument only when it becomes payable on demand.
What is SPDC cheque?
SPDC stands for security post dated cheques. It is collected in case the repayment mode is ECS or SI. These cheques can be presented to your account incase there are default in EMI payments.
How do you manage post dated Cheques?
A post-dated cheque is one that the recipient can encash on a future date. Such cheques are not payable until the date mentioned on the face of the cheque. In the accounting books of both the issuer and the recipient, the transaction will not be recorded until the date provided on the cheque.
What is unused SPDC?
What is the meaning of SPDC?
SPDC
| Acronym | Definition |
|---|---|
| SPDC | Shell Petroleum Development Company |
| SPDC | Self Protecting Digital Content |
| SPDC | Spontaneous Parametric Down Conversion |
| SPDC | Self-Protecting Digital Content |
What happens if a check is post dated?
Postdating a check is done by writing a check for a future date instead of the actual date the check was written. This is typically done with the intention that the check recipient will not cash or deposit the check until the future indicated date.
Is a post dated check an asset?
A postdated check—a check with a date that is later than the current date—is not considered to be currency. Further, the postdated check should not be reported as part of the Cash account balance until the date of the check.