Common use of Cheques Clause in Contracts

Cheques. 10.6.1 After disbursement of the USSD LBF refinanced amount, you must within 7 days submit new cheques as per the new loan schedule, failure to which PCUL will repossess the security/asset and the actual cost of repossession will be incurred by you. 10.6.2 In case of default, the normal collections process as per the terms and conditions of the LBF loan facility shall apply.