Moreover, when postdated checks
are issued and intended only as promissory notes, there is no estafa.
Shawwa also said the MOU abides with banking confidentiality principles, where businesses will identify customers' credit solvency when selling on credit where customers use postdated checks
and take the right decision that saves them from engaging in credit risks.
Graft probers said the former officials conspired in issuing postdated checks
worth P1.1 million drawn from the Land Bank of the Philippines account of the municipal government.
PTP: This metric tells the manager the total dollar amount of "single-promises" that the collector has scheduled to run between this morning and the last day of the month that are not already represented by postdated checks
. A "single-promise" is differentiated from a "recurring promise," or a PPA (see below.) In other words, this is the total amount of all commitments from the debtors in a given file to send a single payment of some amount, but not necessarily anything further.
The report offers several recommendations, including capping interest rates and fees, allowing installment payment plans, extending loan terms, limiting the number of rollovers and prohibiting the use of borrowers' postdated checks
Customers typically borrow from $100 to $500 in return for writing postdated checks
. The lenders hold the checks, expecting the customers to return on paydays to buy back the checks for the amount borrowed, plus a fee.
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.
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.'