Guidance on Implementing the Decree on Checks
关于实施《支票法令》的指导意见
ຄຳແນະນຳການຈັດຕັ້ງປະຕິບັດດຳລັດວ່າດ້ວຍແຊັກ
Summary
This guideline issued by the Bank of the Lao PDR (Central Bank) to implement the Cheque Decree No. 386/ລບ of 2014 specifies rules and procedures for cheque composition, payment period, use, application, writing, confirmation, payment, foreign currency cheques, and lost cheque handling, comprising 18 sections.
Articles
Article 1
Purpose. This Guidance is formulated to elaborate on certain provisions of the Decree on Checks (No. 386/ລບ, dated October 27, 2014), aiming to provide parties with a clear and uniform understanding of the system and methods for using checks.
Article 2
Composition of the Cheque. In addition to the elements required under Article 8 of the Cheque Decree, the content of the cheque must also include the following elements: The content of the cheque must be printed in both Lao and English, with the Lao font using Phetsarath OT and the English font using Times New Roman. The main composition of the cheque book and cheque leaf is as follows: 1) The cheque book includes: Cover, back cover, 20 cheque leaves, 1 application form for purchasing the cheque book, which must be bound before the last 5 leaves to remind customers to prepare for the purchase; 2) The cheque leaf includes: The stub and the cheque leaf. (a) The stub contains the following content, dimensions, and fonts: Mark (if any): Size 1.30 cm x 1.20 cm, located at the top left of the stub; Drawer's name: Font size 12.5 bold; Date, Pay to, Account balance, Deposit, Balance before withdrawal, This withdrawal, Balance, and Cheque number: Font size 8 bold. The cheque leaf contains the following content, dimensions, and fonts: Mark (if any): Size 2.30 cm x 2.10 cm, located at the top left of the cheque leaf; Drawer's name: Font size 24 bold, located at the top center of the cheque leaf; Currency symbol: Size not too large or too small, to be clearly visible; Pay to, Amount in words: Font size 10 not bold; Amount in figures box: Size 5.50 cm x 0.90 cm; Cheque number: Font size 7 not bold, located at the bottom left of the cheque leaf; Account number: Font size 7 not bold, located at the bottom center of the cheque leaf; Date (year, month, day) and Signature: Font size 9 not bold, located at the bottom right of the cheque leaf. The background color of the front of the cheque leaf may include colors and patterns, but should not be too dark; the background color of the back of the cheque leaf shall be pure white. (Figure 1: Example of cheque format)
Article 3
Payment period. After receiving a check, the payee or holder may present it for payment to the drawer or drawee bank within 180 days from the date specified on the check; payment shall not be made after this period. If delay in presenting for payment is caused by unforeseeable and uncontrollable force majeure (such as floods or earthquakes), the relevant person must obtain a certificate of force majeure from the relevant administrative authority or their organization within 10 days from the termination of the force majeure event, and submit a written application for payment. For checks with a future date pre-filled, the payee or holder may present them for payment within 180 days from the date specified on the check.
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