In Brazil, the drawer may seek damages in Justice if their cheque is cashed in before its due date, according to the jurisprudential orientation of the Superior Court of Justice, as per Summary No. Under the clearing rules of the Canadian Payments Association, a post-dated cheque cannot be cashed prior to the date written on it. However all the court rulings missed looking into relevant sections of law.
If a Canadian financial institution inadvertently accepts and processes a cheque before the due date, the cheque writer may ask his or her financial institution to return the amount until the day before the cheque should have been cashed. Section 68 of Indian Stamp Act declares that a person who draws a post dated cheque and the person who presents a post dated cheque for payment will be liable to be fined Rs. The definition of a cheque in Negotiable instrument act as well as in Negotiable Instruments Act is - that a cheque is always made payable on demand.
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It is not difficult to understand that a post dated cheque is not payable on demand.
The courts considered under the Negotiable Instruments Act, 1881. In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque: If a post dated cheque is a bill of exchange which is not payable on demand how the stamp duty will be calculated on such a bill of exchange.
In banking, post-dated cheque is a cheque written by the drawer (payer) for a date in the future.
Whether a post-dated cheque may be cashed or deposited before the date written on it depends on the country.
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