HomeMy WebLinkAboutNSF Cheques Policy
Cape Breton Regional Municipality
POLICY
NSF CHEQUES
STATEMENT:
Issuance of personal and corporate cheques as payment of outstanding amounts
owing to the Municipality is recognized as the predominate choice by the majority
of taxpayers. In most instances this transaction is completed without any
difficulty, however; we must recognize that from time to time we will receive
cheques drawn on accounts without sufficient funds to cover the amount of the
cheques (NSF). This occurrence can be as simple as an oversight on the part of
the taxpayer or a deliberate attempt to avoid payment at that particular time. In
order to limit the number of times such an activity happens, it is imperative that a
policy clearly spelling out the Municipality's recourse be made known.
Definitions: - (as per Assessment Act)
Financial Industry
English Dictionary etc.
Criteria:
1. All first time NSF cheques will be handled at no charge to the issuing party,
and should we have post dated cheques on file they will be processed in the
normal manner on their respective dates.
2 All second and beyond NSF cheques will be subject to a $25.00
administrative charge applied directly to appropriate account. Any post
dated cheques on file will be returned to taxpayer.
3. This policy is subject to periodic review.
Adopted by Council
on the 19th day of September,
1995.