Should bounced cheque be collected back from the drawee?
Hello, I gave a cheque as security, but was unable to pay a part of the amount before the expiry date of the cheque(within 3 months from the cheque date). The drawee put the cheque and it bounced for insufficient funds. After that I have paid the balance amount before he sends a legal notice. The drawee is now not sending back the bounced cheque to me and now asking me to sign another agreement if i want the bounced cheque back. Should I need to get the bounced cheque back after i paid the entire amount of the cheque to be in the safer side?
You paid the full amount, demanding a signed agreement in exchange for the cheque could raise suspicion and potentially invite legal trouble. By refusing to return the cheque, the drawee might be trying to leverage it for future claims or pressure. For further enquiry contact us on our helpline number.
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