The New Model for Check Dispute Form - 2003
| No: 241000000009 | Date(g): 6/3/2003 | Date(h): 3/1/1424 | Status: Modified |
Effective from 2003-03-06 - Mar 05 2003
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Based on the proposal submitted by the Central Bank branch in Riyadh to change the current check dispute form, which is outdated and no longer serves its purpose, a task force was formed from the Central Bank and some local banks. This team concluded that a new unified form should be prepared for use by both the banks and the Central Bank branches, taking into account the technological and procedural developments in banking.
We have attached a copy of the new check dispute form, which should now be used by Central Bank branches and banks operating in the Kingdom. It must be included when returning a check to the clearinghouse or to the client who submitted the check, for each check individually. We hope that it will be approved for implementation in your documents one month from its date. We would also like to emphasize that the responsibility for verifying the legality of checks presented to banks—including the validity of powers of attorney, inheritance certificates, guardianship documents, and identity verification documents for the relevant account—lies entirely with the banks prior to submitting the checks to the clearinghouse. Additionally, the banks are responsible for any violations that may arise thereafter.