I rented through Al Asmakh, one of the biggest real estate agents. I had to pay, one months rent equivalent as security deposit, one months rent in advance and half a months rent as the agencys fee. I had to provide 11 post dated cheques. The assurance, albeit verbal only, that I was given was that a company as big as Al Asmakh would only injure their own business if they presented cheques early. Their wasn't alot of choice but to accept that in order to rent our apartment. A year later and true to their word, only the one cheque has been present each month.
my bank never mentioned either of the issues above.
If it hadn't been for QL, I wouldn't even have know the law was under discussion...
As I said "best you confirm your bank has knowledge of the second law, since in Qatar, most people only get half the info, and the other half goes missing,"
Williamb, protecting the clique has never been my forte, however agressive users bug the cr*ap out of me, and the way you attacked LP wasn't called for, when all he was doing was answering your question, and backing it up with facts.
You could have come back with the law you discovered without being so nasty about it.
In future, before asking something on QL, google it, since you seem to find the info you were looking for, users will be less inclined to answer you if you become agressive everytime they don't post an answer to your liking.
I have never heard of any case wherein the post dated cheques have been encashed all at one time.
Yes there was a law stating that w.e.f. May 2010 all post dated cheques could be encashed at one time if required by the landlord if there were insufficient funds in the account, they account holder could be jailed.
But there was a big hue and cry from the general public and the law was amended within a few days :-)
Xena the little law you mentioned that ive discovered is the LAW. How can it be the last info you have had when it has clearly been published. Protect the clique Xena and argue blindly when it is obvious that some in the circle are incorrect.
..as post dated and banks are not permitted to encash before the due date. The law was amended within days and most banks communicated to their clients. I am aware that our company has given post dated cheques to real estate companies, car dealers etc. in plenty and with no issues till now!
best you confirm your bank has knowledge of the second law, since in Qatar, most people only get half the info, and the other half goes missing, like your little law you discovered.
So some banks might still be meeting post-dated cheques before the time.
The law in Qatar allows the use of post-dated cheques as a method of payment and provides for certain protections in relation to them.
However, the status of the protection was in doubt on May 12 when Article 580 of Law No. (27) of 2006 promulgating the Commercial Law of Qatar (Commercial Law), which provides that “the cheques shall be payable at sight”, was due to be implemented.
Fortunately, a new Law No. (7) of 2010 amending Article 580 came into force two days later. The banking sector and the legal and business communities in Qatar welcomed the new law because it ensured the continuity of the commercial transactions relying on post-dated cheques, which Article 580 would have disallowed.
Prior to 2004, commercial (and civil) matters were governed by the 1971 Civil and Commercial Code of Qatar. The Code was comprehensive and addressed a variety of matters, including the processing of post-dated cheques. According to Article 457 of the Code, a cheque was payable on sight. However, where a cheque provided for a future issue date, and a bank proceeded to cash the cheque prior to that date, the bank would be liable for any damages arising from such payment.
Cheques will be encashed immediately on presentation at a bank irrespective of its issuing date, according to the relevant provisions of Qatar’s Commercial Law, which takes effect on May 13, 2010.
According to Article 580 of the Commercial Law of Qatar (Law No.27 of 2006), the cheque shall be ‘payable at sight’. In the event the cheque was presented before the date set as its issuing date, the instrument shall be paid on its presentation date.
If a cheque bounces for lack of funds when presented at a bank, the drawer will be liable for its value and he/she may be prosecuted, convicted of a penal offence, fined or imprisoned, sources said yesterday.
The provisions of the law take effect in May next year following the expiry of the three-year period notified after its implementation. The law was issued on July 27, 2006 and implemented six months after gazette publication.
Effectively, the system of issuing ‘post-dated’ cheques will get scrapped with the law taking effect, a senior banker told Gulf Times yesterday.
He said QCB had already notified the local banks about the relevant provisions of Commercial Law of Qatar taking effect in May next year.
“This has already been published in Qatar Central Bank Regulations Handbook,” the banker said.
Legal expert Nizar Kochery said drawers of cheques would no longer be able to rely on their instruments being cashed on or after a “future date”.
“The days of post-dated cheques have gone. Cheques can be presented for payment anytime after they are handed over to the drawee. The banks will be required to honour and pay the cheques immediately on presentation, Kochery said.
It is the drawer’s responsibility to ensure he/she has sufficient funds before issuing a cheque. If funds are not available at the time the cheque is presented, the drawer “may be prosecuted” for a criminal offence, it is learnt.
“The drawer may be prosecuted, convicted of a penal offence, fined between QR3,000 and QR10,000 or imprisoned for a period ranging between three months and three years,” a source said.
A local bank’s chief operating officer said: “We are working with QCB to ensure effective implementation of the law governing cheque issuance. We will sit together with Qatar Central Bank to see the customers’ interests are safeguarded.”
Many residents who spoke to Gulf Times hoped QCB would clarify the status of post-dated cheques they have already issued for a period beyond May 13, 2010, when the relevant provisions of Qatar’s Commercial Law take effect.
Lincoln you really dont have a clue do you, every time I read a comment from you it is rubbish. The banks do not let them cash and if they do they are liable to be sued by the account holder. A post dated cheque is post dated for a reason.
If you cant comment effectively dont add anything.
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I rented through Al Asmakh, one of the biggest real estate agents. I had to pay, one months rent equivalent as security deposit, one months rent in advance and half a months rent as the agencys fee. I had to provide 11 post dated cheques. The assurance, albeit verbal only, that I was given was that a company as big as Al Asmakh would only injure their own business if they presented cheques early. Their wasn't alot of choice but to accept that in order to rent our apartment. A year later and true to their word, only the one cheque has been present each month.
yes, its safe now;-P
to come out now, its dark in this shelter, I think I may be suffering from shellshock
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Regards,
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ah, a new member on QL....a feisty one...lol
Williamb - As Xena said, the "common man" was not made aware of your amazing revelation, so thanks for sharing it with us :o)
As Steve1 answered the norm in the very first reply I'll add no more.
my bank never mentioned either of the issues above.
If it hadn't been for QL, I wouldn't even have know the law was under discussion...
As I said "best you confirm your bank has knowledge of the second law, since in Qatar, most people only get half the info, and the other half goes missing,"
Williamb, protecting the clique has never been my forte, however agressive users bug the cr*ap out of me, and the way you attacked LP wasn't called for, when all he was doing was answering your question, and backing it up with facts.
You could have come back with the law you discovered without being so nasty about it.
In future, before asking something on QL, google it, since you seem to find the info you were looking for, users will be less inclined to answer you if you become agressive everytime they don't post an answer to your liking.
I have never heard of any case wherein the post dated cheques have been encashed all at one time.
Yes there was a law stating that w.e.f. May 2010 all post dated cheques could be encashed at one time if required by the landlord if there were insufficient funds in the account, they account holder could be jailed.
But there was a big hue and cry from the general public and the law was amended within a few days :-)
Xena the little law you mentioned that ive discovered is the LAW. How can it be the last info you have had when it has clearly been published. Protect the clique Xena and argue blindly when it is obvious that some in the circle are incorrect.
..as post dated and banks are not permitted to encash before the due date. The law was amended within days and most banks communicated to their clients. I am aware that our company has given post dated cheques to real estate companies, car dealers etc. in plenty and with no issues till now!
.
best you confirm your bank has knowledge of the second law, since in Qatar, most people only get half the info, and the other half goes missing, like your little law you discovered.
So some banks might still be meeting post-dated cheques before the time.
that you asked a question, which was answered.. you then bash the person who answered it and then come up with your own answer anyway...
If you don't like answers you get, don't ask the question!
If I had answered you I would have given the same answer as LP, simply because that is the last information we had on this matter.
How am I confused when I just proved you completely wrong?
And you say just pay cash but who has 12 months rental cash sitting around?
No, it is you who is "I am slightly confused", not me.
lincoln a little bit of knowledge makes you a dangerous imbecile
admit you are wrong
If you think so.
You are talking rubbish yes?
... and if you know all that, why are you still asking here?
Just pay cash. It's the only safe way. If they don't agree, go somewhere else.
Check mate to williamb I think.
The law in Qatar allows the use of post-dated cheques as a method of payment and provides for certain protections in relation to them.
However, the status of the protection was in doubt on May 12 when Article 580 of Law No. (27) of 2006 promulgating the Commercial Law of Qatar (Commercial Law), which provides that “the cheques shall be payable at sight”, was due to be implemented.
Fortunately, a new Law No. (7) of 2010 amending Article 580 came into force two days later. The banking sector and the legal and business communities in Qatar welcomed the new law because it ensured the continuity of the commercial transactions relying on post-dated cheques, which Article 580 would have disallowed.
Prior to 2004, commercial (and civil) matters were governed by the 1971 Civil and Commercial Code of Qatar. The Code was comprehensive and addressed a variety of matters, including the processing of post-dated cheques. According to Article 457 of the Code, a cheque was payable on sight. However, where a cheque provided for a future issue date, and a bank proceeded to cash the cheque prior to that date, the bank would be liable for any damages arising from such payment.
That law has been superseded as far as I can see
http://doha.biz/2010/07/18/post-dated-cheque-rule-remains-unchanged/
I did not make this law.
so let me get this straight everyone who has post dated cheques get them taken out in advance and as such are sent to jail
Who is talking rubbish, williamb?
Cheques will be encashed immediately on presentation at a bank irrespective of its issuing date, according to the relevant provisions of Qatar’s Commercial Law, which takes effect on May 13, 2010.
According to Article 580 of the Commercial Law of Qatar (Law No.27 of 2006), the cheque shall be ‘payable at sight’. In the event the cheque was presented before the date set as its issuing date, the instrument shall be paid on its presentation date.
If a cheque bounces for lack of funds when presented at a bank, the drawer will be liable for its value and he/she may be prosecuted, convicted of a penal offence, fined or imprisoned, sources said yesterday.
The provisions of the law take effect in May next year following the expiry of the three-year period notified after its implementation. The law was issued on July 27, 2006 and implemented six months after gazette publication.
Effectively, the system of issuing ‘post-dated’ cheques will get scrapped with the law taking effect, a senior banker told Gulf Times yesterday.
He said QCB had already notified the local banks about the relevant provisions of Commercial Law of Qatar taking effect in May next year.
“This has already been published in Qatar Central Bank Regulations Handbook,” the banker said.
Legal expert Nizar Kochery said drawers of cheques would no longer be able to rely on their instruments being cashed on or after a “future date”.
“The days of post-dated cheques have gone. Cheques can be presented for payment anytime after they are handed over to the drawee. The banks will be required to honour and pay the cheques immediately on presentation, Kochery said.
It is the drawer’s responsibility to ensure he/she has sufficient funds before issuing a cheque. If funds are not available at the time the cheque is presented, the drawer “may be prosecuted” for a criminal offence, it is learnt.
“The drawer may be prosecuted, convicted of a penal offence, fined between QR3,000 and QR10,000 or imprisoned for a period ranging between three months and three years,” a source said.
A local bank’s chief operating officer said: “We are working with QCB to ensure effective implementation of the law governing cheque issuance. We will sit together with Qatar Central Bank to see the customers’ interests are safeguarded.”
Many residents who spoke to Gulf Times hoped QCB would clarify the status of post-dated cheques they have already issued for a period beyond May 13, 2010, when the relevant provisions of Qatar’s Commercial Law take effect.
Read more: http://www.qatarliving.com/node/851035#ixzz1I51J4ogI
Lincoln you really dont have a clue do you, every time I read a comment from you it is rubbish. The banks do not let them cash and if they do they are liable to be sued by the account holder. A post dated cheque is post dated for a reason.
If you cant comment effectively dont add anything.
They can be cashed at any time.
but these post dated cheques will not be cashed before the date?
USUALLY FOR A YEAR LEASE ONE DEPOSIT PAYMENT, WHICH IS EQUALS TO ONE MONTH RENTAL AND 12 POST DATED CHEQUES
and post dated cheques for the 12 months