State Bank of Pakistan (SBP) on Wednesday replying to queries issued more guidelines on Standardisation of Customers Cheque Layout. According to payment System Department (SBP), in order to address further queries of banks, Frequently Asked Questions (FAQs) on Standardisation of Customers'' Cheque Layout have been updated with the addition of five new queries.
Replying to new queries, SBP has allowed printing of company''s logo with Payer''s name/IBAN without affecting any Areas of Interest. In addition, two signatures may be accommodated on a single line in signature area. The line can also be broken into two with suitable subscript (such as: Authorised signature etc) to specify the area of signatures. However it shall not interfere with Areas of Interest.
After Payment over the counter/settlement through clearing, the banks may affix ''Paid Stamp'' as a cancellation mark on front side of a cheque subject to the condition that no Area of Interest is affected, it added. Similarly, Account Title can be printed below the signature line. However, signature should be drawn above the line. Replying another query, SBP said that the banks may decide at their own to mention Manager or any other position title authorised to sign cheques on behalf of company in case of Corporate cheques. However, signature means place where drawer has to sign. Therefore, the drawer will sign the cheque.
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