About this document
Understanding Bouncing Checks Law BP 22 by Krista Allen is a document available to read on EtoBox.
BP 22 is a Philippine law that governs criminal liability for issuing bounced checks. It penalizes two acts: 1) knowingly issuing a check without sufficient funds to cover it, and 2) failing to maintain sufficient funds for a check within 90 days of issuance. The law aims to prohibit worthless checks from circulating and protect checks as substitutes for currency. A person can face imprisonment, fines, or both under BP 22. Estafa charges can also apply if a bounced check was used to obtain goods or services
- Author
- Krista Allen
- Language
- EN