NewsWhore
07-14-2009, 02:30 PM
The Central Bank reports that as part of the Project for Payment System Reform in the DR (SIPARD) the format for bank checks in the DR is being standardized. The new format is expected to replace all checking within the next 8 months.
The Central Bank says that as of 4 September, it will be obligatory for all checks to be printed exclusively by the companies that comply with the requirements for printing the new formats.
The Central Bank says that checks utilizing the old format can continue to be used but companies are required to use the new format when ordering new checks.
The new format expedites the processing of the checks, as reported in Hoy, and is part of a general reform of the DR's payment and settlement systems to comply with international standards.
More... (http://www.dr1.com/index.html#8)
The Central Bank says that as of 4 September, it will be obligatory for all checks to be printed exclusively by the companies that comply with the requirements for printing the new formats.
The Central Bank says that checks utilizing the old format can continue to be used but companies are required to use the new format when ordering new checks.
The new format expedites the processing of the checks, as reported in Hoy, and is part of a general reform of the DR's payment and settlement systems to comply with international standards.
More... (http://www.dr1.com/index.html#8)