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| A post-dated cheque (PDC) is a [[cheque]] or [[note]] on which the [[drawer]] has written a date later than the date on which the cheque was written.
| | ''Supply chain finance''. |
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| In many jurisdctions, banks will, if funds are available, pay immediately a cheque presented by the [[payee]], disregarding any future dating at the time of presentation, even if they notice it. Accordingly a drawer who has post-dated a cheque as they lack cleared funds at the time of writing, expecting to receive them before the date written, is putting his trust in the beneficiary not to deposit them or present them for payment prior to the stated date.
| | All the forms of financing provided after delivery of goods or services to the buyer. |
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| However, in some jurisdictions it is customary and contractually usual for some payments to be made using post dated cheques that are provided to the beneficiary in batches. For example, in India it may be usual for tenants to provide checks in batches of three each quarter in repect of the coming three months' rent and the landlord will deposit them one at a time each month of the quarter.
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| Exact law and practice regarding post-dated cheques may vary between jurisdictions. There are variations between States in the United States - even though US Federal law also applies with additional procedural requirements and criminal offences too.
| | ==See also== |
| | | *[[Pre-shipment finance]] |
| In any case, issuing a cheque with no intention of paying is likely to be a criminal offence (a type of fraud) in most jurisdictions.
| | *[[Receivables finance]] |
| | | *[[Supply chain finance]] |
| [[Category:Cash_management]] | |
Revision as of 13:30, 20 June 2016
Supply chain finance.
All the forms of financing provided after delivery of goods or services to the buyer.
See also
