Legal Question in Banking Law in Pakistan
Customary usage of cheques in Pakistan in 6 months. It is a normal practice for companies in some countries to stop issued unpresented cheques after 6 months so banks do not process it in error. Is this allowed in Pakistan?
1 Answer from Attorneys
Well if there is such a case then the company should inform the bank to make a stop payment for such and such cheques. Also they are liable to write and application and get it allowed by the SSP office that the following cheques were issued un presidented and we have intentionally stoped the payment and kindly discharge us from the liability if someone dishonors them and try to go for legal action against us. Get that application marked from SSP office having jurisdiction over the branch of bank where the company has account and then no FIR will be registered against you. Hope it is clear.
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