What is a Postdated Check? |
Answer:
A postdated check is a check which has a date
in the future written on it. Postdated checks may be written when the author does not currently have the funds in his or her account but anticipates being able to pay on a specific date in the near future.
There are some times when simply waiting to pay is not practical. The recipient of the check may need reassurance that payment is coming, or it may simply be more convenient for both parties to exchange the check before there are sufficient funds.
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