Re-issuing a Cashier's Check Earlier than 90 Days - John Burnett

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Re-issuing a Cashier's Check Earlier than 90 Days
by John Burnett, BOL Guru
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Question: Can we re-issue a cashier's check before 90 days if the customer purchases an indemnification bond? Is the 90-day requirement a legal requirement or can each bank establish its own policy?

Answer: If the issuing bank wishes to re-issue a cashier's check before the end of the 90-day period in UCC 3-312, it may do so but must understand that it remains liable on the original check until 90 days after it was issued.

The bank must also decide whether it wishes to obtain an indemnity agreement or bond in these cases.

First published on BankersOnline.com 09/2/03

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