In this digital era, cash is gradually losing its sheen while digital payments are rising. Yet, in certain high-value transactions such as property purchases, business deals and loan repayments, cheque continues to hold its ground. A cheque is a bridge between a promise and a payment. When the bridge collapses, the promise is breached, money fails to reach its destination, giving rise to financial and legal consequences.

Let’s address some rudimentary aspects. To mitigate risk of disputes, both parties must verify the cheque’s particulars and check for errors or unauthorised alterations. The issuer must ensure sufficient balance when the cheque is presented and avoid issuing signed blank cheques.