What is Cheque Bounce Notice
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Cheques are an essential aspect of transaction in the modern economic world. Cheques also carry an added tension with them of non fulfillment of the payment due to lack of balance in the account. This is known as the case of cheque-bouncing. Action for recovery of bounced cheques is not rocket science, but requires prompt and timely action. The first step to be taken would be to send a letter (a demand notice,recommended to be done by a lawyer as the demand notice is a document of serious contention at trial) to the party who wrote the cheque (the drawer), threatening to initiate proceedings if the amount due is not paid.

The threat of prosecution can often work its magic and result in prompt settlement. #Demand notice must contain the following1.Statement that you presented the cheque within its period of validity;2.Statement of debt or legally enforceable liability;3.Information about the reason of dishonour of cheque (Check the memo of the bank returning the cheque for these);4.Calling upon the drawer to pay the amount due; and5.Statement that you are giving the drawer 15 days to pay up or you will initiate legal action.

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