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Issuance of GCs with expiry dates banned

  • Written by Ryan Ponce Pacpaco
  • Published in Nation
  • Read: 261

WITH an overwhelming votes of 212, the House of Representatives yesterday approved on third and final reading a bill seeking to ban the issuance of gift checks with expiry dates.

House Bill (HB) No. 6016 or an “Act Reverting the Issuance, Use And Redemption Of Gift Checks, Gift Certificates and Gift Cards” was principally filed by Iloilo Rep. Ferjenel Biron.
    
It imposes prohibition on the issuance and sale of gift checks, gift certificates, or gift cards that have expiry dates.
    
The amendment of House senior Deputy Minority Leader and Buhay Hayaang Yumabong (Buhay) party-list Rep. Lito Atienza for a five percent discount when consumers buy gift checks, except on grocery items was carried.
    
In his proposed amendment, Atienza underscored the importance to give consumers more benefits to propel economic growth.
    
“We should remove the expiry date from all gift certificates. At the same time, we thank the sponsor for accepting our amendment of giving consumers a five percent discount every time they purchase gift certificates.  This will ensure that consumers’ rights are protected and they get full value for their money.  As soon as consumers purchase the gift checks, hawak na ng mga merchants ang pera.  Hindi pa nagagamit ang mga GC pero yung ibinayad mo ay napapaikot na ng merchants,” said Atienza, adding that the measure will eliminate the old system of putting expiry dates on gift checks.
    
In effect, once passed, the law will not only remove the expiry date on gift checks, but consumers can now buy them at a five discount.