2. The procedure of money Order
3. Way to send and Pay draft
4. Alteration in address or place of payment
5. Alteration of payee’s name:
6. Stoppage of payment
India Post, the state-owned communicating organization, offers the power of the electronic draft with that someone sends cash via electronic draft disbursal mode.
A draft is an order issued by the Post office where the payment to the person is transferred under the name money order through the agency of the Post office. A ‘Payee’ is that the person named in the draft because the person to whom the money is to be paid. The advantage of causing cash to somebody through the draft is that the money is delivered at the house or his place of the keep.
The procedure of money Order
- Buy a draft type at the counter of the post office. A remitter is that the one that sends a draft. Fill in ink the mandatory entries adding his signature of thumbs marks at the foot. A type while not signature or thumb mark or incomplete in any respect won’t be accepted. All entries created within the type should be fair and will be written in English, Hindi, or within the language of the district either by the remitter himself or by anyone on his behalf. The remitter could indite the coupon any communication he needs to form to the recipient. The number that one draft could also be issued should not exceed Rs 5000/-
- The money form is punctually filed in, in conjunction with the number of the cash order and commission either in cash or by Cheque be conferred at the post office counter. A receipt is going to be given for the number paid by him on account of the money order and commission. The remitter ought any error within the receipt quickly because the Post office won’t take accountability.
- After the money is paid to the recipient the remitter of the cash order receives acknowledgment of payment of the number of the money order signed by the recipient or his licensed agent. If the acknowledgment isn’t received during a cheap time, a certificate of payment signed by the master of the office is going to be given on application. However, within the case of cash orders issued in favor of state or District, native or Municipal Boards, the acknowledgment in some cases is maintained by the recipient United Nations agency issued a division receipt to the remitter direct.
Way to send and Pay draft
Certain special forms of draft Forms are prescribed for remitting Government dues and a few of them are current solely among the boundaries of the state that they’re issued. These forms are often obtained from the Post Offices involved.
- Note 1:- may are indictable if the money order had originally been drawn during a post office of that country and also the commission at the inland rate already paid are going to be subtracted from the number of the re-directed order once it’s suggested to be country of destination.
- Note 2:- within the case of a draft in far more than the limit prescribed for remittal to an overseas country underneath any law or regulation good at the time of such redirection, the remitter or the recipient ought to acquire payment of the number of the money order in India either in person or through a punctually licensed agent or furnish the authority of the bank of India allowing the remittal of the number of the money order out of India by suggests that of an overseas draft.
Alteration in address or place of payment
The remitter of a draft that has not been paid could need that the address of the recipient shall be altered or that the name of post office at that the order was created owed, shall be modified. The specified amendment with zero charge is issued on the remitter applying to the Post office and the receipt of the manufacture given with full particulars of the payee’s address as entered within the draft.
Alteration of payee’s name:
The remitter of a draft which is not been paid should need the number which is paid to some person apart from the recipient named within the order. The specified amendment is going to be created, on payment of a second commission, on the remitter applying in writing to the post office where the order was issued with the full particulars of the payee’s address as entered within the draft.
Stoppage of payment
The remitter of a draft that has not been paid could order and need that the money is repaid to himself which can be avoided on additional charge on the remitter applying in post office by writing where the money order was issued and the receipt of manufacturer with full particulars of the payee’s address as entered within the draft. In no case but can the Post office be to blame for inability or failure to prevent payment of a draft in compliance with the remitter’s request.