Cheque Bounce Law
Cheque Truncation System
An electronic cheque clearing system where a scanned image of the cheque is transmitted for clearing, rather than physically moving the paper cheque between banks.
This system speeds up cheque clearing considerably, since banks no longer need to physically transport cheques for processing, though the legal consequences of dishonour remain governed by the same underlying Negotiable Instruments Act framework.
Understanding this system is mostly relevant for tracking exactly when a cheque was presented and dishonoured, which matters for calculating notice and complaint timelines.
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