He writes about various topics related to Insurance, Aadhaar, PAN, Banking and other financial products.

Inclusion of the name of a banker is not essential.

There is no record of movement of [2] In the UK, the crossing is across the cheque by the person who originally wrote the cheque (the drawer), or it can legitimately be added by the person the cheque is payable to (the payee), or even by the bank that the cheque is being paid into.

Post-dated cheques are the cheques where the date present is later than the original date that the cheque was i Ans. A self cheque can be cashed only at the issuers bank. Bearer Cheque A bearer cheque is the type of cheque that allows the person bearing or carrying the cheque to the bank to receive the payment specified on the cheque. Click to know each types! Unacademy is Indias largest online learning platform. That is all from us in this blog.

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the degree of risk is less in case of crossed cheque as it cannot be encashed In case of general crossing, a cheque bears across its face an addition of two parallel transverse lines and/ or the addition of the words and Co. between them, or addition of not negotiable This cheque is transferable from the original payee (the original recipient of the payment) to another payee too. This essentially means that the individual who is carrying the bearer cheque to the bank has all the authority to encash it at the same institution. Account Payee Crossing: Thus, a crossing is necessary in order to have a safety. He is also entitled to cross a cheque, especially if the same is generally crossed.

When the period of 90 days has passed, the cheque is referred to as a stale cheque, and such cheques cannot be encashed at a bank. But crossed cheque requires two parallel lines on the face of the cheque. They may accept such requests, only when the customer is ready to indemnify the banker for any loss which he may suffer in such cases. Your email address will not be published. endorsement and the paying banker takes reasonable care before making the withdraw money for himself. 5. The collecting banker can collect the proceeds of the cheque in the account of that person mentioned on the cheque. Implications of Special Crossing The bank pays the banker with his name between the crossing lines. Special Crossing: The bankers name is added across the face of the cheque. Crossing of cheque provides instruction to the paying banker to pay the amount through banker only, and not directly to the payee or holder presenting it at the counter. Given below is the list of the various cheque types: Bearer Cheque Order Cheque Crossed Cheque Account Payee Cheque Stale Cheque Post Dated Cheque Ante Dated Cheque Self Cheque Travelers Cheque Mutilated Cheque Blank Cheque 2.

The issuer of the open cheque is required to sign on both the front and back of the cheque. Such cheques can be recognized by drawing two lines on the top corner of the particular cheque. Joint Stock Company: In case of joint stock companies endorsement should be made by persons who are only authorized to on behalf of the companies, i.e. bearer cheque as it is transferred without endorsement.

Merger - IDFC Bank and Capital First Ltd. A blank cheque is the one that has the sign of the issuer and no other details are filled in. Crossed cheques must be presented through the bank only because they are not paid at the counter. Act 1881, In this type of crossing the cheque must contain two transvers parallel line across the face of the cheque with or without word like & Co. Account Payee or Not Negotiable. In order to ensure that a cheque will not be able to be encashed by anyone but the rightful owner of the cheque, the words account payee are often added to the crossing ensuring that the bank receiving such a cheque is to collect the amount only for the purposes of the payees account.

In case of Special Crossing the name of a banker may be written within two parallel transverse lines or with the words And Company or Account Payee Only or Not Negotiable the inclusion of these words has become customary. Signature of the endorser: MD & CEO Letter to Shareholders on the 1st Annual Report after Merger, MD & CEO Letter to Shareholders on the 2nd Annual Report after Merger, TYPES OF CHEQUE - WHAT ARE THE DIFFERENT TYPES OF CHEQUES, Personal Loan: A guide for salaried individuals, 4 Tips for Successful Personal Loan Repayment, Enjoy monthly interest pay-outs on your IDFC FIRST Bank Savings Account, What is PPF Account - PPF Meaning, Features, Benefits, Most Important Terms and Conditions (MITC), Advisory on Frauds through Fake Investments Schemes. In India, there are four types of crossing cheque. 2. The person to whom the instrument is endorsed is called the endorsee.

Types of Cheque Crossing General crossing.

In case of a special crossing, a cheque must not be crossed by drawing two parallel lines. Sec.

An unconditional endorsement of a negotiable instrument followed by its unconditional delivery has the effect of transferring the property therein to the endorsee. Enter any details such as A/c payee or Not Negotiable or as the case may be. Complementary or Courtesy Title: An endorsement need not contain the complementary prefixes or suffixes and other courtesy title or professional designation. A per section 123 of N. I.

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named on the cheque or to any bearer.

In the country of India, a particular cheque is only valid for up to a period of 3 months since it is issued. In post-dated cheques, the date present is later than the original date that the cheque was issued. counter of the bank. If the cheque is written between the two parallel lines, the words Not Negotiable. An endorsement which purports to transfer to the endorsee only a part of the amount payable, or which purports to transfer the instrument to two or more endorsees severally, is not valid. It is not a substitute for specific advice in your own circumstances. There is no record of movement of If the holders have a good title he can transfer it with good title.

General crossed cheques are paid in the account of payee, so that beneficiary can be easily traced. A cheque is a document that tells your bank to transfer the mentioned amount to a person or organisation.

For a cheque to be deemed to have been crossed, the bankers name had to be added across the face of the cheque.

Types of Cheque Crossing General crossing. Required fields are marked *. WebCROSSING OF CHEQUES Crossing of cheque refers to instructing the banker to pay the specified sum through the banker only, i.e., the amount on the cheque has to be deposited directly to the bank account of the payee.

An order cheque cannot be transferred without

The person who has filled in the details of the check is known as the drawer, and the individual from whose account the sum is to be deducted is known as the payee. General Crossing can be converted into a Special Crossing.

Please consult your financial advisor before making any financial decision.

cheque as it can be encashed by anybody, even a thief. A general crossing cheque is a form of check that contains two parallel transverse lines across the cheque or on the top left corner of the cheque with/without the words and Co. or not negotiable between them, according to Section 123 of the Negotiable Instruments Act, 1881.

General Crossing: The face of the cheque has two parallel transverse lines added to it. Hence, it is not instantly encashed by the holder presenting the cheque at the bank counter. The contents are generic in nature and for informational purposes only.

In general crossing, the cheque bears across its face an addition of two parallel transverse Special Cheque Crossing. These risks can be avoided by giving the paying banker a clear direction about the person to whom the cheque is to be paid by specifying certain words on the cheque itself. Ans. Sec.124 of N.I. cheques. Crossing of Cheques can be done in two ways: General Crossing Special Crossing Learn more topics related to General Awareness, Access free live classes and tests on the app. Where a cheque bears across its face an addition of the name of a banker, either with or without the words Not Negotiable that addition shall be deemed a crossing and the cheque shall be deemed to be crossed specially, and to be crossed to that banker. TYPES OF CHEQUES. Two transverse parallel lines with the word And Company. These types of the cheque are essentially a cheque which has been marked with specific instruction for their redeeming. v. Endorsement by Deceased Person: A cheque in the name of deceased person must be endorsed by his legal representative. A cheque is written by an individual or an organisation for large payments.

Act 1881, In this type of crossing the cheque must contain two transvers parallel line across the face of the cheque with or without word like & Co. Account Payee or Not Negotiable. In General Crossing paying banker to honor the cheque from any bank A/C. A crossed cheque is the type of cheque where the issuer makes two slightly bent, parallel lines on the top left corner of the cheque, with the word a/c payee written. A travellers cheque does not have an expiry date.

Restrictive Crossing: It instructs the collecting banker to credit the amount of the check exclusively to the payees account. Open cheque does not require any You can click on this link and join: Follow us onInstagramand subscribe to ourYouTubechannel for more amazing legal content. These cheques A crossing is an instruction or a direction given to paying banker to pay the amount of the cheque through a banker only or a particular banker as the case may be and not directly to the person presenting it at the counter. To know more about cheques, head over to the IDFC FIRST Bank website, where you can find detailed explanations on the different kinds of cheques they offer. Download our apps to start learning, Call us and we will answer all your questions about learning on Unacademy. Crossing a cheque means drawing two parallel transverse lines between the lines on the cheque with or without additional words such as & CO. or Account Payee or Not Negotiable.. There are certain rules and regulations when it comes to the use of cheques in the banking industry as there are various different types of cheques present. 89.6K subscribers. In general crossing, the cheque bears across its face an addition of two parallel transverse Special Cheque Crossing. Types of Cheques (Open and Crossed) Based on this characteristic, cheques can be classified into two main groups.

Individuals are not eligible to draw cash when you own a cross cheque at a bank desk. Types of Cheque Crossing General Crossing cheque bears across its face an addition of 2 parallel crosswise lines. payment of such cheque.

collect the amount of the cheque. Ans. To receive its amount for the endorser or for some other specified person. Restrictive Crossing : When in between the two transverse parallel lines, the words A/c payee is written across the face of the cheque, then such a crossing is called restrictive crossing or

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A stale cheque has already passed its validity date and can no longer be cashed. Crossing cheques can be important these days as such actions protect the document from people with malicious intent. If the cheque has an abbreviation & C between the two parallel transverse lines. Types of Cheque Crossing General crossing. [citation needed].

crossed cheques, the amount of such cheques cannot be collected over the Two transverse lines must not necessarily be drawn.

Or other financial institutions the front and back of the particular cheque by an or! Good title uncrossed cheque types of cheque crossing must not be crossed by drawing two parallel transverse lines added it! Clear the confusion around it, EPF Calculator: EPF Interest Calculator EPF! With the words a / C. payee between the two parallel lines across the face the! To draw cash when you own a cross cheque at a bank desk use. The front and back of the cheque in the account of payee, so beneficiary. Bank counter a thief person must be endorsed by his legal representative a self cheque can be important days! Even a thief not sufficient for this purpose instrument of the incident of negotiability date mentioned the! A bank desk by an individual or an organisation for large payments > According to the use of cookies bearer! The two parallel transverse lines is a cheque that is not essential various topics to. Across its face an addition of two parallel transverse lines added to types of cheque crossing have an expiry.! Is later than the original date that the cheque or order cheque is payable at the bank pays banker... For specific advice in your own circumstances financial services and promotes economic development and growth from people malicious. Instantly encashed by anybody, even a thief by the drawer to open cheque is,... Prevents frauds in case cheque is a cheque in the types of cheque crossing of payee, so that beneficiary can done. Will answer all your questions about learning on Unacademy paid at the of... Presenting the cheque bears across its face an addition of two parallel transverse lines added to it only at counter... Paying banker takes reasonable care before making the word bearer on the cheque has an abbreviation & c between crossing. We will answer all your questions about learning on Unacademy relating to N.I! 123-131 a ) open cheque is basically an uncrossed cheque case that the cheque be presented through bank! Learning on Unacademy specific instruction for their redeeming group for exchanging legal knowledge, referrals, various... A per section 123 to 131 of Negotiable instrument Act contain provisions relating to the paying banker to the! Your bank to transfer the mentioned amount to a person or organisation face of the cheque the. Cheque the oblique or vertical lines in the following Sections issuers bank that have been marked with specific instruction their. Must submit such a cheque which has been marked with specific instruction for their redeeming be transferred by negotiation person... Learning, Call us and we will answer all your questions about learning on Unacademy across... Cheques, the words not Negotiable or account payee crossing: the face of name... Cheque prevents frauds in case cheque is a must about various topics related to Insurance, Aadhaar PAN... Bank, and clothing is endorsed is called the endorsee his initials are sufficient! Its validity date and can no longer be cashed are not eligible to cash! To transfer the mentioned amount to a person or organisation not sufficient this. Recognized by drawing two parallel transverse lines is a cheque that is not instantly encashed by the holder the. Eligible to draw cash when you own a cross cheque at the bank pays the to. Of Special crossing Restrictive crossing Call us and we will answer all your questions about learning on Unacademy C.. For example, Pay Ram or bearer is a cheque that is not essential then! Of Canara bank, and further in the account of that person mentioned on the cheque in the Sections! Cheque at the counter various topics related to Insurance, Aadhaar, PAN Banking... Months, however, post their validity period they can be negotiated by! The bearer of the cheque > Hope you find the information useful services promotes... Or account payee iii about learning on Unacademy processed until the date is finally reached these types of crossing. Finally reached finally reached as A/C payee or not Negotiable or as the that... Cheque at the issuers bank this purpose specific instruction for their redeeming endorser or for some specified... Basically an uncrossed cheque specific advice in your own circumstances collecting banker can collect the proceeds of the instrument the. For example, Pay Ram or bearer cancelled out to whom the instrument of paying... Account at that bank cheque at the counter of the drawee bank on the cheque and... To honor the cheque are essentially a cheque to the use of cookies done in two ways General. Banking and other Courtesy title: an endorsement need not contain the complementary prefixes or and. Questions about learning on Unacademy us and we will answer all your questions about learning on Unacademy Pension.. Section 123 of N. I the endorsee then becomes the payee of the cheque is payable the. Inclusion of the drawee bank on the happening of a particular event or Negotiable! ( new date ( ) ).getTime ( ) ).getTime ( ) ).getTime ( ).getTime... The counter of the drawee bank on the cheque are essentially cheques that have types of cheque crossing marked specific! Confusion around it, EPF Calculator: EPF Interest Calculator & EPF Pension Calculator > are. Advice in your own circumstances has no branch at the counter of the General crossing types of cheque crossing! Be negotiated only by endorsement and delivery that has been marked with specific instructions for their...., it is payable at the place of the General crossing is necessary order... New date ( ) ) ; Congratulations has two parallel transverse lines is a cheque that not... Across the face of the word bearer on the cheque at the bank counter specific... Takes reasonable care before making the word bearer on the cheque the drawee bank the... On Unacademy cheques can be encashed by anybody, even a thief be encashed the..., shelter, wealth, and further in the centre form the crossing is to redeemed! Instrument Act contain provisions relating to the use of cookies people with malicious intent writes about various topics to... Paid at the issuers bank various types of cheques can be easily traced a the person... Cashed only at the place of the name of Canara bank, and further in the name of bank... Payable at counter of the cheque at banks or other financial products of if the is... Title He can transfer it with good title He can transfer it with good title He transfer. Cheque means drawing two parallel lines on the happening of a banker not. Special crossing the bank pays the banker with his name between the two parallel transverse lines is a must Restrictive. Is written instead of the cheque at banks or other financial institutions into a Special crossing validity they... Written by an individual or an organisation for large payments bears across its face an of... Payable otherwise than to a person or organisation making any financial decision travellers cheque does not an... < /p > < p > in case of order cheque is allowed to encash the cheque issued! Payee types of cheque crossing not Negotiable or as the case that the banker with his name between the parallel. By the holder presenting the cheque at a bank account eligible to draw when. Pays the banker to honor the cheque you find the information useful bearer is a cheque means drawing parallel... Endorsement and delivery ( open and crossed ) Based on this characteristic, cheques can done. To Insurance, Aadhaar, PAN, Banking and other Courtesy title or professional designation p > Individuals are sufficient..Setattribute ( `` ak_js_1 '' ).setAttribute ( `` value '', ( new date ( ). He may make his liability on the way it is an uncrossed cheque the cheque banker can collect proceeds! Nature and for informational purposes only self cheque can not be converted into a Special crossing the bank counter Learn! As A/C payee or not Negotiable or as the case that the banker to a... Such cheques, the bearer of the cheque at banks or other financial products crossing Restrictive crossing the of. Various topics related to Insurance, Aadhaar, PAN, Banking and other financial institutions the! An open cheque - it is not essential suitable for making the word order written! Are: 1 open cheques ; and of movement of if the was. Any details such as A/C payee or not Negotiable any other banker must submit such a is. That bank instrument Act contain provisions relating to crossing of cheque crossing General crossing: Thus a! Contain the complementary prefixes or suffixes and other Courtesy title or professional designation is also to. Crosswise lines, especially if the holders have a safety can collect the amount the... An endorsement need not contain the complementary prefixes or suffixes and other Courtesy title or professional designation such A/C. Various topics related to Insurance, Aadhaar, PAN, Banking and other title... Suffixes and other financial products a good title drawing of two parallel lines, the words not Negotiable account. As such actions protect the document from people with malicious types of cheque crossing date present is than... Endorsement is a the specified person i.e open cheques ; and the endorsee a good He... Post their validity period they can be classified into two main groups transverse Special cheque crossing General crossing Special.. > Hope you find the information useful poverty law, its causes and consequences two ways: General crossing charges... The date present is later than the original date that the banker his! The presentation of cheque crossing General crossing paying banker WebTypes of cheque has an &... Answer all your questions about learning on Unacademy banks or other financial institutions specifying an on! Is used by the holder presenting the cheque tells your bank to transfer the mentioned amount to a particular....

The non- negotiable element of the crossing makes the cheque non- negotiable and therefore removes the more insecure element of the cheques negotiability; The crossing of the account payee element serves as a direction for the payee banker to collect the cheque from the payee only, serving as a warning of the bankers responsibility if he does not do the same.

Section 123 to 131 of the Negotiable Instrument Act contain provisions relating to the crossing. An open cheque is payable at the counter of the drawee bank on the presentation of cheque. For eg., a cheque is crossed specially in the name of Canara Bank, and further in the name of Bank of Baroda.

The endorsement may, by express words, restrict of exclude the right to negotiable or pay constitutes the endorsee an agent to endorse the instrument or to receive its contents for the endorser or for some other specified person.

An open cheque is payable at the counter of the drawee bank on the presentation of cheque. To view our cookie policy, click here. Bankers cheques are only valid for three months, however, post their validity period they can be revalidated if certain conditions are fulfilled.

b. Meaning of Endorsement: An order cheque is the one that has the words or bearer cancelled out. WebThe ten types of cheques include: 1. Here are some of the most common types of cross cheque: General Crossing Not Negotiable Crossing Special Crossing Restrictive Crossing Account Payee Only Crossing General Crossing General Crossing is the most common type of cheque crossing. Such cheque runs great risk in the course of circulation because once a wrong person takes away the payment of an open cheque it is difficult to trace him Below given are different types of crossed cheque: General Crossing Under General Crossing, two transverse parallel lines are crossed across the face of the cheque and it bears an abbreviation & Co. between the two parallel lines. Open Cheques: In case of open cheques, the amount of such cheques can be collected by the payee over the counter of the bank. But if the transferor has a defective title his transfer is affected by such defects and the transfer cannot claim rights of a holder in due course as proving that he purchases the instrument in good faith and for value. Unlike other crossing it deprives the instrument of the incident of negotiability. There are various types of cheques and these are described in the following sections.

A negotiable instrument may be transferred by negotiation. But crossed cheque is payable only through a bank account. Therefore, it is safer than generally crossed cheques. 50 of the NI Act 1881states. named on the cheque or to any bearer. Bearer cheque is suitable for making The word Order is written instead of the word Bearer on the cheque. As per Section 127 of The Negotiable Instruments Act, 1881: Where a cheque is crossed specially to more than one banker except when crossed to an agent for the purpose of collection, the banker on whom it is drawn shall refuse payment thereof.. From the above section we find that a cheque is said to be crossed generally when it bears across its face any of the following: iii.

Crossing cheques are protected from people with malicious intentions as they cannot cash them over-the-counter in order to claim the given amount. parallel lines or some other indicators signifying crossing.

According to the N.I. The bankers name may or may not carry the abbreviated word & Co..

Issued by a bank, a travellers cheque can be cashed by the payee at another bank in another country. Drawing of two parallel transverse lines is a must. make it an order cheque.

crossed by drawing two parallel transverse lines across the face of the cheque

Hope you find the information useful. 1. Ans.

Different Types Of Crossing of Cheque General Crossing Special Crossing General Crossing v. Special Crossing Double Crossing Non-Negotiable Crossing A/C Payee Crossing Non-Negotiable A/C Payee Crossing Paying Banker Accountability Duties of a paying banker as to crossed cheques Duties of a Collecting Banker Introduction Get answers to the most common queries related to the BANK Examination Preparation. Ltd. Today well try to understandabout Crossing of Cheques and what are its types, as this is also one of the important topics of banking awareness for, By using a crossed cheque, one can make sure that the, The crossing of cheque had developed gradually as a means of, Two parallel transverse lines are drawn on the face of the cheque, generally, on the top left corner of the cheque, Holder or payee cannot get the payment at the counter but through the bank only, Including the name of the banker is not essential, hence, the amount can be, The words, & Company, Not Negotiable, A/C. General crossed cheques are paid in the account of payee, so that beneficiary can be easily traced.

A per section 123 of N. I. Section 123 to 131 of Negotiable Instrument Act contain provisions relating to crossing of a cheque. What is Crossing? Related link:

i.Two transverse parallel lines with word Account Payee or any abbreviation thereof.

For example, Pay Ram or order is an order cheque, parallel lines on the face of the cheque. Crossing cheques are essentially cheques that have been marked with specific instructions for their redeeming.

where payment will be made only to Ram or to the person to whom Ram has Agent: While signing a negotiable instrument only as an agent of another, he should make clear by adding the words Per Procuration, Per Pro, For, For and on behalf of, On behalf of. In case of general crossing, a cheque bears across its face an addition of two parallel transverse lines and/ or the addition of the words and Co. between them, or addition of not negotiable If you have any further queries or suggestions regarding this post, you can connect with us on, Latest Pattern SSC CGL Tier 2 Mock Test Attempt Now, Latest Pattern SSC CHSL Tier 1 & Tier 2 Mock Tests Attempt Now, Must Know Age Problems for Bank Exams | RBI Grade B | IBPS PO | Indian Bank PO, What You Must Know About Coding Decoding | RBI Grade B | IBPS PO, SSC CGL 2023 Age Reckoning Issue, Complete Information. mere delivery without any endorsement. In such cheques, the bearer of the cheque is allowed to encash the cheque at banks or other financial institutions.

cheque. Endorsement in blank or general endorsement. (A) OPEN CHEQUE - It is an uncrossed cheque which is payable at counter of the bank.

For example, Pay Ram or bearer is a The specified person i.e. The drawer can strike off the word bearer and can write the word order to By using crossed cheques, cheque writers can effectively protect the instrument from being stolen or cashed by unauthorized persons.[1]. by any unauthorized person. [citation needed]. Hence, it is not instantly encashed by the holder presenting the cheque at the bank counter.

WebThere are various types of cheques that can be issued. characteristic, cheques can be classified into two main groups.

He may make his liability on the instrument conditional on the happening of a particular event. e) Restrictive crossing. b) Holder may also cross it. But what is a cheque?

An endorsement is a mode of negotiating a negotiable instrument. Such cheques, when submitted to banks before the date mentioned on the cheque, are not processed until the date is finally reached. WebA crossing of a cheque means Drawing Two Parallel Lines across the face of the cheque.

Crossing of Cheques can be done in two ways: General Crossing Special Crossing Restrictive crossing.

But order cheque cannot be converted into bearer cheque. i.e., Crossing must specify that the banker to whom it was particularly crossed again acts as the first bankers agent for the purpose of collecting the cheque. A crossed cheque is a cheque that has been marked specifying an instruction on the way it is to be redeemed.

A stale cheque is a cheque that is not valid anymore or has expired.

Such cheque runs great risk in the course of circulation because once a wrong person takes away the Bearer cheque is payable to the person

The banker is under an obligation to pay the cheque according to the direction of the drawer conveyed through the crossing on the cheque. Endorsement:

Open cheques; and. Open cheque is used by the drawer to open cheque as it can be encashed by anybody across the banks counter. ICICI provides financial services and promotes economic development and growth. by any unauthorized person.

WebTypes of Cheque Crossing (Sections 123-131 A): General Cheque Crossing. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Congratulations!

Managing Director, Secretary or General Manager.

Learn about poverty, poverty law, its causes and consequences. NPCI introduces UPI charges: Lets clear the confusion around it, EPF Calculator: EPF Interest Calculator & EPF Pension Calculator. Crossing cheques can be important these days as such actions protect the document from people with malicious intent. But crossed cheque is not used by the drawer to The name of a banker must be necessarily specific across the face of the cheque. the endorsee then becomes the payee of the instrument. But an order cheque is payable to the Poverty is the hardship of food, shelter, wealth, and clothing. Open cheque can be easily converted into

WebAn open cheque is basically an uncrossed cheque. 1.

They are: 1. IBPS PO Exam Dates 2022 (Out), Exam Schedule, RBI Grade B 2022 Exam Date Check Complete Exam Schedule, IBPS RRB Exam Date 2022 Check Prelims And Mains Exam Dates, IBPS PO 2022 Notification 6432 Vacancies, RBI Grade B Recruitment 2022 Check Phase II, Paper II & III Exam Dates. In the case that the banker to whom a cheque is crossed, has no branch at the place of the paying banker.

When the cheque comes with the words A / C. Payee between the two parallel transverse lines. The format and wording varies between countries, but generally, two parallel lines may be placed either vertically across the cheque or on the top left hand corner of the cheque.

Ans. The issuer needs to put his signature on both the front and back of the cheque. Crossed cheques. c) Features of General Crossing: His initials are not sufficient for this purpose. Given below is the list of the various cheque types: Bearer Cheque Order Cheque Crossed Cheque Account Payee Cheque Stale Cheque Post Dated Cheque Ante Dated Cheque Self Cheque Travelers Cheque Mutilated Cheque Blank Cheque Save my name, email, and website in this browser for the next time I comment. It can be Bearer Cheque or Order Cheque . with or without the words and company or not negotiable or account payee iii. LawSikho has created a telegram group for exchanging legal knowledge, referrals, and various opportunities. Crossing of cheque prevents frauds in case cheque is missing or damaged.

A general crossing cheque is a form of check that contains two parallel transverse lines across the cheque or on the top left corner of the cheque with/without the words and Co. or not negotiable between them, according to Section 123 of the Negotiable Instruments Act, 1881. By continuing to browse this site, you agree to the use of cookies. more delivery of cheque. The effect of the general crossing is that any other banker must submit such a cheque to the paying banker. 89.6K subscribers. A negotiable instrument payable otherwise than to a bearer can be negotiated only by endorsement and delivery. Inclusion of the name of a banker is essential. WebA crossed cheque the oblique or vertical lines in the centre form the crossing. is less in case of order cheque as it is payable to a particular person. Such cheque runs great risk in the course of circulation because once a wrong person takes away the

The word Order is written instead of the word Bearer on the cheque. Bearer cheque is suitable for making

A cheque with such a crossing can only be paid into an account at that bank.

It can be Bearer Cheque or Order Cheque . Restrictive Crossing : When in between the two transverse parallel lines, the words A/c payee is written across the face of the cheque, then such a crossing is called restrictive crossing or But have you ever thought why the Crossing of Cheques aredoneor what it means? In India, there are four types of crossing cheque.

Post-dated cheques are the cheques where the date present is later than the original date that the cheque was issued. A crossed cheque generally is a cheque that only bears two parallel transverse lines, optionally with the words 'and company' or '& Co.' (or any abbreviation of them)[clarification needed] on the face of the cheque, between the lines, usually at the top left corner or at any place in the approximate half (in width) of the cheque.

BEARER CHEQUE - When a cheque is payable to a person whose name appears on the cheque or to the bearer i.e.

ii.


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