PHILIPPINE CLEARING HOUSE CORPORATION
Manila, Philippines
Memo Circular No. 3445
June 7, 2018
MEMOTO : All Clearing Banks/Institutions
SUBJECT: UNIFORM INTERPRETATION OF ISSUE DATE ON CHECKS
1. In connection with CICS Operating Memo (ICS OM) No 184021 dated April 16, 2018
and as clarified in Memo Circulars 3436 and 3437 released on April 24 & 30, 2018, we
Wish to remind thatthe uniform rule of eadingnterpreting dates on issued Checks
becomes effective July 1, 2018
2. We trust that by this time, clearing participants have already informed/advised their
respective clients that effective July 1, 1918, the date of check issuance written entirely
in numeric format shall be read by clearing banks following the ‘month - day - year
sequence.
‘Thus, clearing banks may as well advise clients that f they opt to indicate the date oftheir
check issuance, for instance: July 2, 2018, purely in numeric format, they may write the
check date as shown in the “examples below:
TOTO | _orforRo1e | _orOr2018 | _ OF-FI0B 722018
7.022018 O7or2018 | O7OT"2018 | _O7P2OTe | _7°2°2018
FO ‘orm O7ORI6 738.
7.02.58 07.02.18 7°02"16 72516
Note:
Clearing Participant shll read the date as July 2, 2018 foros the case may be), regortless of
the form or shape of the partition symbol other than the above partitions Ike two or more
asterisks or double partition lines/back slosh, smallcircle or square etc). Numerical issue dates
‘no following the standard month day- year sequence, € 2018-02-07, 28-06-2038, 5/02/18
“shall render the checks on which they are written unacceptable for clearing.
3. Dates written in alphanumeric form like the one illustrated below shall be read as they
‘appear on the checks which shall thus continue to be acceptable for clearing, viz:
Format Example
Filly weten November 03, 2078
‘Abbreviaied Month (Fist twee Teter Nov 3, 2018
lly writen GS November 2076,
Areviated month ‘03 Nov 20165
‘Shortened, (03 Now 18.
4. Also, all past-dated Checks (PDC) bearing formats other than those illustrated above and
which were accepted, stored and duly stamped/marked “Warehoused ‘prior to July 1,
2018 should continue to be accepted until paid/negotiated.
5._ fa Check bearing an issue date that is considered invalid, out-of date, stale or postdated
[as interpreted under CICS Operating Memo (CICS OM) No 18-021 dated April 16, 2018
re: Uniform Interpretation of Issue Dates on Checks) is accepted and inadvertently sent
for clearing, the Drawee Bank should return the check using reason code ‘A’ (Out-of-
dote/invaid Date’)
6. For strict compliance.
EMMANIVEL E. BARCENA
Presidpnt & CEO