Common use of Cheque books Clause in Contracts

Cheque books. 5.1 The Bank may, upon the customer’s request, issue the Customer with a Cheque Book. If a Cheque Book is issued, the Customer undertakes to be responsible for its safe custody at all times and will immediately notify the Bank if the Cheque Book, or any of the cheques contained therein, are lost or stolen. The Customer understands that the Bank may, in its absolute discretion, accept from the Customer any stop cheque instructions (either orally or in writing) in cases where the Customer has lost the relevant cheque provided a reported action to the competent authority or in other circumstances allowed by law and agreed by the Bank. 5.2 If a demand draft or cheque is lost or stolen the Customer agrees to provide the Bank with an indemnity acceptable to the Bank in connection with any request for the issue of a replacement or refund of the amount of such demand draft or cheque and accepts that the Bank may take reasonable time to investigate non- payment of a demand draft or cheque reported lost or stolen and the Bank is not liable to issue an immediate refund to the Customer or issue any replacement.

Cheque books. 5.1 The 4.1 the Bank may, upon the customer’s requestin its absolute discretion, issue the Customer customer with a Cheque cheque Book. If if a Cheque cheque Book is issued, the Customer customer undertakes to be responsible for its safe custody at all times and will immediately notify the Bank if the Cheque cheque Book, or any of the cheques contained therein, are lost or stolen. The Customer the customer understands that the Bank may, in its absolute discretion, accept from the Customer customer any stop cheque instructions (either orally or in writing) in cases where the Customer customer has lost the relevant cheque provided a reported action to cheque, the competent authority payee has become insolvent or in other circumstances allowed by law and agreed by the Bank. 5.2 If 4.2 if a demand draft or cheque is lost or stolen the Customer customer agrees to provide the Bank with an indemnity acceptable to the Bank in connection with any request for the issue of a replacement or refund of the amount of such demand draft or cheque and accepts that the Bank may take reasonable time to investigate non- non-payment of a demand draft or cheque reported lost or stolen and the Bank is not liable to issue an immediate refund to the Customer customer or issue any replacement.