postdated check


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postdated check

n. a check delivered now with a written date in the future, so that it cannot be cashed until that date. The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand payment by the bank or claim that the delivery of a bad check was criminal.

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It's an indication of how much revenue, either fee or gross, the collector has scheduled to run in postdated checks between this morning and the last day of the month.
You may not accept a postdated check that is dated more than five days away.
But then "with direct access to the borrower's checking account, a lender can cash the postdated check on the borrower's next payday, amounting to an annual interest rate of 459 percent (credit cards charge from 17 to 25 per cent).
The practice of issuing postdated checks was later scrapped, "obviously to avoid a paper trail that can be used for legal pursuits," said Mercedes Lourdes Quisumbing, president of Pagadian City Chamber of Commerce and Industry.
The teacher holds a parent meeting at the beginning of the year and collects postdated checks from each family.
We also ask arrears clients for a series of postdated checks (for any amounts) for as much as a year in advance, so the past-due balances can be settled gradually.
Pablo, the ever doting father offered to write Cal a check in payment of Mik's unpaid lease rentals, in addition to issuing postdated checks to cover the unpaid electric and water bills, the correctness of which Pablo said he still had to verify with Mik.
f) Postdated Checks: Postdated checks will be deposited.
Also, the GSIS said it will 'notify qualified housing loan borrowers to retrieve their postdated checks from the former's treasury unit and replace it not later than August 1, 2017.
Orasa paid the five percent downpayment and issued numerous postdated checks to cover the remaining balance.
Aside from paying a two-month deposit and advance rental for one month, and turning over five postdated checks for an initial 6-month contract in this apartment building, how much and what did it cost me to live independently?
Unbelievable as it may sound, some of the biggest retailers often issue postdated checks.