“The changes will cut time and effort on the part of the beneficiary of a cheque as the decree makes bounced cheques an executive document to be executed directly by an appropriate judge in court. The changes will help overcome challenges with commercial dealings and with securing payments,” said Abdelaziz.
According to the new legal provision, banks will be obliged to make partial payment for a cheque to the beneficiary when a cheque is presented for payment at the bank as long as an account balance is available to even partly satisfy the beneficiary’s claim.
Realising the remaining amount