Highlights
This program is planned as a solution for companies who collects Post Dated Cheques, as payment instrument from their clients.
Potential Clients would include:
1. Real Estate Companies
2. Auto Finance companies
3. Auto Renting Companies
4. Financial Institutions
Case 1 – with example of a Real Estate Company:
An individual who wants to rent a house, should pay the real estate company (or owner) the rent on a monthly basis. The real estate company will / may collect cheques (a banking instrument) for the contract period. i.e. 12 months
1. Cheque Date
2. Beneficiary Name
3. Amount in Words
4. Amount in Figures
5. Account Holders Signature
All parameters from 2-5 hold the same every month – except for 1.The date shall change with the month, in each cheque.Eg: 10 Jan 2020, 10 Feb 2020, 10 Mar 2020, etc.
Case 2 – with example of an Auto Finance Company:
An individual who wants to lease and own a car, should pay the Finance / Auto Lease / Auto Rental company (or owner) the rent on a monthly basis.The company will / may collect cheques (a banking instrument) for the contract period. i.e. 12 - 42months, as the contract may be.
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