A DD was submitted for tender and after was released in favour of third party by payee..unfortunately DD has expired.Who will approach to bank for revalidation Of the DD ,the purchaser or the one in whose favour DD was purchased or the one in whose DD is released??
Asked on 4/19/18, 6:06 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
12.05.2018
Dear Sir / Madam,
The onus remains on the original Drawer of the DD to re-validate it with the Bank after expiry date.
Regards,
Answered on 5/12/18, 7:34 am
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