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Lost Check Cancellation Process

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Mel Pangal
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45 views3 pages

Lost Check Cancellation Process

Uploaded by

Mel Pangal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

BCLTE NOTES

CANCELLATION OF LOST
CHECKS ISSUED
CANCELLATION OF LOST
CHECKS ISSUED

A check is considered lost when it is


misplaced, waylaid or left behind
inadvertently/ negligently by the
payee or holder in due course or by the
custodian/carrier thereof and after
diligent search cannot be found or
located; or when it is lost due to
fortuitous event, theft or robbery.
CANCELLATION OF LOST
CHECKS ISSUED

Upon submission of sworn statement from the


payee that a check issued by the LGU is lost, the
treasurer shall immediately notify the bank
concerned for the stoppage of payment. He/She
shall forward the sworn statement to the
accountant who shall prepare the JEV to cancel
the payment made. Copy of the JEV shall be
furnished the treasurer as basis for him/her to
debit the amount in the Cashbook-Cash in Bank.

(Sec.58, Chapter 3, Volume I, MNGAS for LGUs)

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