Common use of Cheque Book Clause in Contracts

Cheque Book. Customer acknowledges that the Bank recognizes solely cheques drawn from and written on the official digitalized leaves of the valid ARB cheque book delivered to the Customer and registered on its account. a) Prior to accepting delivery of a Cheque book, the costumer must ensure that the Cheque Book belongs to it , bears its correct credentials. And is intact with all enumerated pages. The costumer must not accept delivery if the Cheque book does not belong to it, bears incorrect information or has missing page(s). b) The Customer must take all reasonable care in drawing Cheques so as to preempt fraudulent alterations or forgeries. For any alterations on a Cheque made by the Customer to be acceptable it must be validated by signature of the Customer at the appropriate place. c) The Customer must inform the Bank immediately upon loss or theft of a Cheque or a Cheque book or upon suspicion that a Cheque has been forged. d) to prevent fraud, the Customer / drawer must write the correct date of issuance on the Cheque, The Bank shall pay any Cheque presented to it on the date of presentation whether or not the Cheque is post-dated . e) Subject to its unfettered discretion to determine each case on merits the bank is under no obligation to cash, deposit or accept Cheques presented by the beneficiary after the elapse of seven months from the date of issuance yet the Bank does not warrant to the drawer that such a Cheque will not be cashed or accepted for collection. . f) If the customer wants to stop a Cheque, it must instruct the Bank in writing in accord with the Bank procedure. The bank will not stop a Cheque covered by a Cheque guarantee card or a Cheque which has already been paid or cashed by it. The Customer understands that countermand of Cheque payment could be a criminal offence under Section 118 of the Negotiable Instruments Act and hereby acknowledges that a countermand by him entitles the Bank subject to its own unfettered discretion to immediately stop payment whether or not the countermand is justified and that the Customer alone bears full responsibility for such an order and holds the Bank free of any liability whatsoever. g) The Customer acknowledges and understands that directives issued by SAMA are integral and an inseparable part of this Agreement and that the Bank will not heed a countermand order in situations where the stoppage of the Cheque will constitute a breach of a directive in effect.

Cheque Book. Customer acknowledges that the Bank recognizes solely cheques drawn from and written on the official digitalized leaves of the valid ARB cheque book delivered to the Customer and registered on its account. (a) Prior to accepting delivery of a Cheque cheque book, the costumer must ensure that the Cheque Book belongs to it , bears its correct credentials. And and is intact with all enumerated pagespages . The costumer must not accept delivery if immediately notify the Cheque bank upon discovery that a cheque book does not belong to itit , bears incorrect information or has missing page(s). (b) The the Customer must take all reasonable care in drawing Cheques cheques so as to preempt fraudulent alterations or forgeries. For any alterations on a Cheque cheque made by the Customer Costumer to be acceptable valid it must be validated signed by signature of the Customer at the appropriate place.Customer (c) The Customer must inform the Bank immediately upon loss or theft of a Cheque cheque or a Cheque cheque book or upon suspicion that a Cheque cheque has been forged. (d) to prevent fraud, the Customer / drawer must write the correct date of issuance on the Chequecheque, The Bank shall pay any Cheque cheque presented to it on the date of presentation whether or not the Cheque cheque is post-dated . (e) Subject to its unfettered discretion to determine each case on merits the bank is under no obligation to cash, deposit or accept Cheques cheques presented by the beneficiary after the elapse of seven months from the date of issuance yet the Bank does not warrant to the drawer that such a Cheque cheque will not be cashed or accepted for collection. ... (f) If the customer wants to stop a Chequecheque, it must instruct the Bank in writing in accord with the Bank procedure. The bank will not stop a Cheque cheque covered by a Cheque cheque guarantee card or a Cheque cheque which has already been paid or cashed by it. The Customer understands that countermand of Cheque cheque payment could be a criminal offence under Section 118 of the Negotiable Instruments Act and hereby acknowledges that a countermand by him entitles the Bank subject to its own unfettered discretion to immediately stop payment whether or not the countermand is justified and that the Customer alone bears full responsibility for such an order and holds the Bank free of any liability whatsoever. g) The Customer acknowledges and understands that directives issued by SAMA are integral and an inseparable part of this Agreement and that the Bank will not heed a countermand order in situations where the stoppage of the Cheque will constitute a breach of a directive in effect.counte