One of Customers is promising to pay but all cheques are getting returned due to insufficient funds
Dear Sir / Madam,
In case of a cheque bounce you should send a notice to the drawer within 30 days of the refusal of the bank to honor the cheque. Further if the drawer fails to make a payment within 15 days after the receipt of such notice, you have one month to initiate legal proceedings from the expiry of 15 days.
We will be happy to assist you further. You can write to us at [email protected]
Banking and Corporate,