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Old 4th August 2009, 09:41 AM
GALLUS GALLUS is offline
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Originally from switzerland. Expat in uae.
Default cheques clearance

Thank you Bevdeforges;

From what I have experienced with most banks

1- it take 2 working days for a cheque to be cleared by banks

2- most cheques (especially in country side) are not remitted to the bank same day by the creditor (expect additional days for clearance)

3- foreign cheques need 21 calendar days to 28 days to clear

Some banks charge for each cheque issued by account holder, some others charge a flat yearly fee and finally some others charge a fee for cheque book issuance (25 or 50 pieces)

In France, it is customary to negotiate delays of presentation of cheque for clearance with your supplier (the ones you know well). For instance you can negotiate for end of week remittance, or end of month. Each cheque has a validity of 90 days. In some banks 30 days.

It might be possible also to pay terms with cheques for large amounts (issuing 3 cheques in lieu of 3 installments)

good luck
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