To Request for Hold Deposit or Payment of your check, you must submit a written request to hold the deposit of his check at a minimum of seven (7) working days before check’s payment date.
- The buyer’s letter must specify the date of the check’s re-deposit
- The time limit to hold deposit of any check is Fifteen (15) days
- Only one (1) check may be requested for hold deposit at a time
- Subsequent months’ checks shall be deposited according to schedule
- Hold Deposit Penalty – this is currently set at three percent (3%) of the check’s amount, wherein a fraction of a month is considered one month.
- Check-holding fee is five hundred Pesos (P500.00) per check