References in periodicals archive ?
A pragmatic solution to this is for the contractor to furnish the employer with a signed but undated security cheque, which the employer may cash if it suffers loss on account of a breach by the contractor.
Borrowers are normally made to sign an undated security cheque when securing a loan.
The second security the bank will insist on is an undated security cheque for an amount the borrower will sign to secure the lending.