| Commentary

35 Form

| Commentary

5: TRAVELLER’S CHEQUES

35 Form1

Traveller’s cheques exist in a variety of forms but they all have five features in common:

  1. 35.1

        the name of the issuer of the instrument,

  2. 35.2

        a face value expressed in a particular currency,

  3. 35.3

        spaces for a signature and a counter-signature,

  4. 35.4

        an order to pay or promise to redeem at face value or the prevailing exchange rate if the instrument is validly signed and countersigned, and

  5. 35.5

        a serial number.

Travellers’ cheques may also have space for the name of a payee and the date and place of encashment but that is

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