Republic Acts1 min read
Section 7Sec./Art. 7
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Instances Where Issuers and Accredited Merchants May Refuse to Honor Gift Checks. - The issuer and its accredited merchants may refuse to honor gift checks under the following circumstances:
(a) When the gift, check is lost due to do fault of the issuer; or
(b) When the gift check is mutilated or defaced due to no fault of the issuer and such damage prevents the issuer from identifying the security and authenticity features thereof.
This Act shall not prevent any issuer from prescribing reasonable rules tor changing, upgrading, or updating the gift check: Provided, That such rules shall be subject to the approval of the DTI: Provided, further, That it does not impose additional cost to the consumer: Provided, finally, That it does not violate the provisions of this Act.
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.