4cheques protocol, do we need to have the actual money on bank account ?
my question is pretty simple : i'm arriving in dubai in september and will have "only" some 40 000 AED to my name upon arrival...which is pocket money i guess for dubai !
i'm intending to rent an 80 000 aed/year appartment and pay in 4 cheques...given by november 2012 i will be in position to fuel more 50 000 aed on my local account
I was thinking of giving 4 cheques in september (3 being postdated) even if i don't actually own the amount of those 4 cheques on my account at the date when i will be handing them over to the landlord...but it should be ok since they are only supposed to be cashed out throughout the following year
is it common in dubai for people to process that way ? i. guess it may not be allowed, but hey, when you give 4 postdated cheques to the landlord, is he supposed to check if you have all that money on your account ???
it's a kind of "credit" though not official...i'm relying on my first salaries to fuel the account ...all in all i don't wanna ask for a bank loan and my employer is not giving any help to pay 1 year rent...
Last edited by KONY; 18th June 2012 at 11:17 PM.