At par CHEQUE: (In a way a universal CHEQUE)ДЄt Par CHEQUE is accepted at par at all its branches of the bank across the country. If a CHEQUE is presented in some other city than it was issued at, it becomes an outstation CHEQUE and may attract some nominal but fixed banking charges for clearing the same, however a solution to this problem is wire transfer or AT PAR CHEQUES.ДЎ7. It is written by the account holder as pay self to receive money in physical form from the branch where he holds his account.В This can be alternated by using anВ ATMВ card. Self-CHEQUE : (For withdrawal by an individual himself) High Value CHEQUEs: (TraderвЂ™s CHEQUE)Д¬HEQUE bearing an amount higher than Rs. 1 lakh are called normal value CHEQUEs.ДЎ3. Normal Value CHEQUEs: (Regular CHEQUE)Д¬HEQUEs below the amount of Rs. Its use is widespread across the globe among tourists and also very popular with merchants, hotels, restaurants etc.ДЎ2. It is an instrument issued by a bank for remittance of money from one place to another. TravellerвЂ™s CHEQUEs: (Best suited for tourists) It is available in various denominations and may vary by amount of gift.ДЎ1. Gift CHEQUEs are used for offering presentations on occasions like birthday, weddings and such other situations. After which it becomes a Stale CHEQUE and is dishonoured by the bank when deposited. The validity of a CHEQUE is only 6 months from the date mentioned on it. It is to be deposited only when the date mentioned on the CHEQUE is reached, before which it will be dishonoured.Д©. A CHEQUE bearing a due date later than the date of issue, it is termed as post dated CHEQUE. To avail a loan Post Dated CHEQUE is must. It is not valid and banks can dishonour the same.ДЄ CHEQUE bearing date earlier than the date of issue, is an Antedated CHEQUE, and is not valid The holder of an open CHEQUE can receive payment over the counter at the bank, deposit the CHEQUE in his own account or pass it to someone else by signing on the back of a CHEQUE.ДЄ worn out CHEQUE or a torn CHEQUE is called Mutilated CHEQUE. Open CHEQUE: (At the payeeвЂ™s will) When for a payee both options are open, either to receive cash over the counter (as if it is a bearer CHEQUE) OR money can be transferred to his account (as if it is crossed CHEQUE)ДЄ CHEQUE is called OPENВ CHEQUE when it is possible to get cash over the counter at the bank. Blank CHEQUE: (Favourite CHEQUE of Bollywood Movies)ДЄ CHEQUE bearing the drawer signature only is a Blank CHEQUE. The payee further transfers the CHEQUE, once received, and the details of beneficiary should be mentioned on the back of the CHEQUEД¤. In such cases word вЂњbearerвЂќ should be removed and вЂњorderвЂќ should be written after the name of the payee. In this case the amount is transferred to the beneficiaryвЂ™s account directly, and is not paid in cash.ДЄ CHEQUE which is payable to a particular person or payable to someone else on his order of the payee is called an order CHEQUE. Crossed CHEQUE : (To stop illegal movement of money)ДЄ CHEQUE carrying two cross lines on upper left hand corner is known as a Crossed CHEQUE. There is no crossing on the CHEQUE and it is paid over the counter in cashДў. Bearer CHEQUE: (Over the counter CHEQUE)ДЄ CHEQUE payable to a person bearing the same is called a Bearer CHEQUE. The person named on the instrument is called the вЂ payeeвЂ.ДЄ CHEQUE payment is a debit transaction as the transaction regarding the payment of a CHEQUE is initiated by the payee or beneficiary.Дemand Draft is a pre-paid instrument, not CHEQUE (Thus receipt of CHEQUE does not mean final payment.ДЎ.The person directed to pay is the вЂ draweeвЂ.The maker of a CHEQUE is called the вЂ drawerвЂ.вЂњa Negotiable Instrument may be a promissory note, a bill of exchange or a CHEQUEвЂќДЄ CHEQUE is a Bill of Exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. The Negotiable Instrument Act, 1881 definition says

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