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Pay through issuance of post dated checks?
BORROWER/BUYER |
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Fills out RECEIPT FOR POST DATED CHECKS (RPDC) Form in duplicate and submits the accomplished form and the post dated checks (PDC) to the Account Officer (AO).
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ACCOUNT OFFICER |
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Validates the PDCs and acknowledges receipt. Issues copy of RPDC form to Borrower/Buyer.
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CASHIER |
On PDC due date, prepares Official Reciept (OR). Issues copy of OR to AO. |
ACCOUNT OFFICER |
Posts details of payment to the Borrower's/Buyer's ledger. Safekeeps the OR. Releases OR upon request by the Borrower/Buyer or sends to Borrower/Buyer every six (6) months. |
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