Very often we have to face the situation. We have received our payment through cheque, but unfortunately the spelling of the name of the payee thereon is wrong. And obviously when we present the cheque for encashment to our banker, we find to our astonishment the cheque amount is lying uncredited in the account, even in spite of due encashment thereof.
We must be careful to check it beforehand prior to depositing the cheque to the bank. Sometimes we know it won’t be wise enough to return the cheque to the drawer thereof for getting the correction done or receiving a fresh cheque. Somehow it is time consuming also.
Instead when depositing the cheque, we have the option to give an undertaking thereby indemnifying the bank authority in the event of any future claim or dispute in respect of the said cheque amount and requesting to credit the account with the amount of the cheque. I think, this is a handy remedy of the issue.
A format of the undertaking is given below in the form of an application. The free .pdf format is also downloadable from here.
THIS WRITING IS NOT A LEGAL ADVICE. YOU SHOULD CONSULT WITH A LEGAL ADVISOR IF YOU HAVE PROBLEM RELATING TO THE ISSUE DISCUSSED HEREIN.
THIS WRITING IS NOT A LEGAL ADVICE. YOU SHOULD CONSULT WITH A LEGAL ADVISOR IF YOU HAVE PROBLEM RELATING TO THE ISSUE DISCUSSED HEREIN.
THE FORMAT ABOVEREFERRED TO:
