Section 2Sec./Art. 2

Declaration of Policies. It is the policy of the State to protect the interests of the consumer, promote the general welfare and establish standards of conduct for business and industry. Consistent therewith, it shall promote and encourage fair, honest, and equitable relations among parties in consumer transaction and protect consumers against deceptive, unfair, and unconscionable sales acts and practices. It shall likewise ensure that the best interest of the consumer is considered in the interpretation and implementation of the provisions herein, including its implementing rules and regulations.

Towards this end, the State, through the Department of Trade and Industry (DTI), recognizes that a gift check represents value held in trust by the issuer thereof on behalf of its beneficiary or bearer and that consumers must not be unduly deprived of the value of their money.