PRESIDENT Rodrigo Duterte has signed Republic Act 10962 banning the expiration dates on gift checks, gift certificates and gift cards.
The bill was introduced by Bulacan Rep. Jose Sy-Alvarado before the House of Representatives and Senator Juan Miguel Zubiri before the Senate.
Under the law, these are prohibited:
Violators of the recently signed law will pay a fine of not less than P500,000 but not more than P1 million.
For second time violators, in addition to the fine, the issuance of the gift check of the offending party shall be suspended for three months and for the third offense, aside from the fine, the issuance of the gift check by the offending issuer shall be cancelled.
The act shall take effect 15 days after its publication in at least two newspapers. (Keith Calayag/VoxPop Philippines)