From Longman Business Dictionary ˌante-dated ˈcheque British English, ante-dated check American English a cheque on which you write a date that is earlier than the actual date → cheque.
Is ante-dated Cheque valid?
A cheque bearing a date prior to the actual date of signing the cheque or opening of an account is called an antedated cheque which is valid and can be paid till it becomes stale. This is a cheque on which you write a date that is earlier than the actual date.
What is difference between CDC and PDC?
A stale cheque is one which cannot be honoured because the reasonable period is expired. As against, a post-dated cheque is a cheque which is drawn today but contains a future date for payment.
Will a post dated check clear?
Can a bank or credit union cash a post-dated check before the date on the check? Yes. Banks and credit unions generally don’t have to wait until the date you put on a check to cash it. However, state law may require the bank or credit union to wait to cash the check if you give it reasonable notice.
How checks are cleared?
Check clearing is simply a process whereby funds move from one account to another to settle a check payment. The amount is usually credited to the bank account of deposit and an equivalent amount debited at the bank from which it is drawn. The bank then requests the money from the check writer’s bank.
What is a post check?
Postdating a check refers to writing a check but putting a future date on the check instead of the date that the person writes the check. People typically postdate checks intending that the recipient not deposit or cash the check until a later date, because payment is not due until that later date.
Can PDC be Cancelled?
The Supreme Court has ruled that stopping the payment of a post-dated cheque, issued to discharge debt or liability, is a criminal offence under the Negotiable Instruments Act.
Which is an example of an antedate check?
An antedate is a date entered on a check or legal contract that is prior to the date of entry on the check or document. For example, a “backdated” check dated July 1, but written on July 4, is an antedate.
What does it mean to sign an ante dated cheque?
A cheque bearing a date prior to actual date of signing the cheque or opening of an account is called an ante dated cheque.
Which is the best definition of the word antedated?
Also found in: Thesaurus, Legal, Financial, Wikipedia . 1. To be of an earlier date than; precede in time. 2. a. To assign to a date earlier than that of the actual occurrence. b. To date as of a time before that of actual execution: antedate a contract; antedate a check. n.
What’s the difference between ante dated and current date?
In simple language, assume today’s date is – 07/10/2016. If you write the date on your cheque as 07/10/2016 it is current date or the date of issue. If you write the date as 06/10/2016 it is ante-dated and is valid only for 3 months from the date of issue. That is upto .
