What is the order to stop payments?

Payment stop is instructed from the control account owner to the issuing bank that will not honor a specific issued check or automatic debt if submitted for payment. Depending on the country where the bank is, it may be possible to issue this order orally by phone, although this may be necessary to follow with a written notice. For example, in the US, for example, a payment order for a stop is only expanding to 14 days; To enforce after this time limit, the account owner would have to go to the bank and sign a written order to stop for six months. These steps must usually be taken regardless of the reasons why the account owner no longer concerns goods or services. It is often important that such an order is made quickly, so requests for phone or internet are often accepted. In some places, however, a written request or written monitoring on the OJE required an application for RAL.

In the United States, there are steps to issue a bank that is not honored, a check regulated by section 4 of the Single Commercial Code (UCC). This part states the steps and obligations of the Bank to the account owner to assess the application. The UCC section also states in principle that such stop commands must be received by the bank in a reasonable period of time and accompanied by the most complete description of the specific inspection that the bank should not honor. If the bank pays a check over the stop order, its reasons for this will do so, the reasons specified in the UCC section. In this case, the corrective measures for the control account owners are also listed.

When a written order for payments is advantageous, the account owner can state the reason or reasons why the order was required. It is possible that the account owner has found after Issušek that the company has a bad reputation or involved in fraudulent practices. Perhaps the account owner is informed about the check lost in the post office and before the re -check for purchase or serviceHe wants to stop the account owner first. The account owner should understand that the owner of a business or service company may sue for damages unless the check is honored; But that would be a civic affair. It is also possible for the trader to hold the check over the usual six -month period of stopping the payment order and then send it back for the payment, provided the account owner has not renewed the order to stop payments after the first expiration.

Fees that banking institutions charge for a stop order are usually higher than pumping fees and may differ from bank to bank. In addition, the same amount of the fee may be charged every time the account owner contacts the bank to restore the stop order and block the owner of a merchant or service company from R from ResubMing and payment of payment. Although many banks argue that it rarely happens, some people pay a fee regularly or close accounts.