We are manufactures and have a distribution network for our product. We appoint distributors and sign an agreement with them. We have to give them credit as per the market trends. We want to secure our credit by taking security blank cheques without date and amount so that we can present in our bank account in the worst case. If the situation is further worse then can go for legal action against them for the outstanding amount.
We want to confirm if this is legally okay. If we can take blank