For example, a check written on the 14th of the month but dated for the 28th will not be cashed for another two weeks.
The rules for postdated checks are outlined in Article 3, Section 113 of the Uniform Commercial Code.
Any check or draft that has a future date written upon it by the user.
These checks are frequently used by customers who take out payday loans.
Most banks will honor a postdated check even though it is paid before the date on the check.
In the United States and the UK, post-dated cheques are negotiable instruments and can be drawn upon at any time, while in India and Australia post-dated cheques are not payable until the date written on the cheque. (1) Where a cheque, or any indorsement of a cheque, is dated, the date shall, unless the contrary is proved, be presumed to be the day on which the cheque was drawn or the indorsement made, as the case may be.
(2) A cheque is not invalid by reason only that- (a) it is not dated; (b) it is antedated or post-dated; or (c) the date it bears is a Sunday.
This event doesn't generate for Result Codes: 0x10, 0x17 and 0x18.
Event “4771: Kerberos pre-authentication failed.” generates instead.
The retailers will usually accept post-dated monthly cheque payment installments up to several months in advance allowing their customers to pay for expensive goods as a sort of a line of no interest credit.
This event generates every time Key Distribution Center issues a Kerberos Ticket Granting Ticket (TGT). If TGT issue fails then you will see Failure event with Result Code field not equal to “0x0”.
In the United Kingdom, post-dating a cheque carries no legal weight and so such a cheque can be cashed before the due date.