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Monday, 23 December 2013

Regulation on Cash Checkbook Use

APROVED
by Decision of the National Bank of Moldova Council of administration
16.12.1999 (OM no.10-11 of 27.01.2000)

1. GENERAL DISPOSITIONS
1.1.Basis. The Regulation on cash checkbook use has been worked out pursuant to Art. 5,11,26,48 of the Law on the National Bank of Moldova no.548-XIII of July 21, 1995.
1.2.Destination. This Regulation determines the compulsory elements and the cash checkbook
use.
1.3.Application. The provisions of this Regulation shall be compulsorily applied:
a) at the issue of cash checkbooks;
b) at the issue by the National Bank of Moldova of cash based on the cash check to its clients;
c) at the issue by banks of cash from the accounts of the holders of bank accounts based on
the check from the cash checkbook.
[p. 1.3 modfiied by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 1.3 modified by the Decision of the Council of Administration of the NBM no. 380 of 15.12.2005]
1.4. Terms used:
The check from the cash checkbook (see Attachment 1) represents a payment instrument through which the check issuer instructs the bank to issue a certain amount of cash money to the mandatory indicated in the check or to the issuer himself/herself. The check shall be filled in on a pattern form of primary document with special record regime, maintenance and use, which is a leaf from cash checkbook.
The check issuer is the legal or physical person practicing entrepreneurial activity and issuing
the cash check. Check issuing represents the check filling in by hand and authentification by the issuer.
The mandatory of the issuer is the person authorized by the issuer to present the cash check to the bank and to receive the amount indicated in the check. The person authorized by the issuer must be the issuer’s employee.
Holder of the bank account is the legal or physical person practicing entrepreneurial activity and on whose name the bank account is opened.
Primary distribution of cash checkbooks by the National Bank of Moldova represents the delivery against payment of cash checkbooks to banks upon their request in order to meet the needs of the holder of the bank account.
The National Bank is the only institution of the Republic of Moldova authorized to print and ensure the primary distribution of cash checkbooks to banks.
[p. 1.4 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 1.4 modified by the Decision of the Council of Administration of the NBM no. 380 din 15.12.2005]

2. PRIMARY DISTRIBUTION OF CASH CHECKBOOKS
BY THE NATIONAL BANK OF MOLDOVA
2.1 The primary distribution of cash checkbooks by the National Bank of Moldova to banks (to be further distributed to the holders of bank accounts opened with the bank) shall be performed upon their request based on a letter bearing the following: the name of the bank, date and registration number, date of cash checkbooks receipt, signatures of persons vested with the right of the first and second signatures and the round stamp of the bank according to the specimens of signatures and the stamp mark.
[p. 2.1 modified by the Decision of the Council of Administration of the NBM no. 380 of 15.12.2005]
2.1.1. The responsible officer of the accounting department of the National Bank of Moldova, after having verified the veracity and the correctness of the letter, shall conclude the invoice form, according to which the bank shall pay for the requested cash checkbooks. The invoice shall be concluded in two copies and authentified with the signatures of authorized persons and the round stamp of the National Bank of Moldova, applied on the first copy of the invoice. The first copy of the invoice shall be submitted to the bank to pay off the indicated amount.
The second copy and the letter shall be kept with the responsible accountant of the National Bank of Moldova up to the moment the bank pays for the cash checkbooks and on the day of the payment for the cash checkbooks it shall be sewn in the file with the documents of the operational day according to the file classified list.
[p. 2.1.1. modified by the Decision of the Council of Administration of the NBM no.380 of 15.12.2005]
2.1.2 On the day of money means registration on the account of the National Bank of Moldova
the accountant of the National Bank of Moldova shall indicate the payment, the date and the signature
on the letter of the bank as a confirmation of the payment performance and shall subsequently send the
letter to the Treasury and Vault Operations Division.
[p. 2.1.2 modified by the Decision of the Council of Administration of the NBM no.380 of 15.12.2005]
2.2 The cash checkbooks shall be issued based on the letter from the bank to the bank’s authorized person, through the “Authorization” – pattern form M-2, approved by the Joint Order of the Department of Statistics of the Republic of Moldova and the Ministry of Finance of the Republic of Moldova no.24/36 of March 25, 1998.
The authorization must be authenticated by the signatures of the persons vested with the right of first and second signatures and the bank’s round stamp, which shall comply with the specimens as by the List of specimen of signatures and of the round stamp kept with the National Bank of Moldova.
[p. 2.2 modified by the Decision of the Council of Administration of the NBM no. 380 of 15.12.2005]
2.2.1. Based on the letter of the bank and on the related banking documents received from the NBM responsible accountant, as well as on the authorization presented by the bank’s authorized person, the Treasury and Vault Operations Division shall carry out the following operations:
a) verification of the identity of the bank’s authorized person, indicated on the submitted
authorization containing the data of the identity card;
b) filling in the form “Letter for cash checkbooks provision” (Attachment 3) in two copies, authentified by signatures of the authorized persons of the National Bank of Moldova, indicating the bank’s name and code, the date of provision, name and surname of the bank’s authorized person, series, numbers of cash checkbooks (from no._____ to no._____ ), the number of cash checkbooks in the series, total number of cash checkbooks: the first copy of the “Letter for cash checkbooks provision” shall be sewn in the file with the documents of the day of the Treasury and Vault Operations Division; the second copy shall be handed over to the bank’s authorized person;
c) filling in and issuing of the “Permission of values taking out from the National Bank of
Moldova”.
The bank’s authorized person shall verify the correspondence of data (numbers) of cash checkbook in the presence of the cashier of the National Bank of Moldova and shall, subsequently, sign both copies of the “Letter for cash checkbooks provision”. The cash checkbooks purchased from the National Bank of Moldova shall be reflected in the bank’s bookkeeping on the same operational day and shall be stored within its treasury, pursuant to the provisions set out by the normative acts in force.
[p. 2 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]

3. DISTRIBUTION OF CASH CHECKBOOKS
BY COMMERCIAL BANKS
[Title of p.3 in the wording of the Decision of the Council of Administration no.184 of 31.07.2002]
3.1. The distribution of cash checkbooks by banks to the holders of bank accounts shall be carried out based on their request (see Attachment 2).
The territorial treasuries shall get the number of cash checkbooks necessary for the respective public institutions’ service from the bank they are served by based on their request (see Attachment 2).
[p.3.1 modified by the Decision of the Council d Administration of the NBM no.184 of 31.07.2002]
3.2. The cash checkbooks shall be issued by the bank to the holder of the bank account or to the person authorized by him/her based on the request of the cash checkbook receipt (Attachment 2) enclosing the copy of the identity card of the holder of the bank account or of the authorized person.
The request of cash checkbooks receipt shall be worked out in one copy and shall be certified by the signatures of persons vested with the right of the first and second signature and the round stamp of the holder of the bank account in compliance with the specimens from the List of specimen of signatures and of the round stamp kept with the bank.
[p. 3.2 modified by the Decision of the Council of Administration of the NBM no.6 of 16.01.2003]
[p. 3.2 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 3.2 modified by the Decision of the Council of Administration of the NBM no.380 of 15.12.2005]
3.3. After the request of the holder of the bank account was approved by the manager and the chief-accountant of the bank, the cashier shall hand over the cash checkbooks to the responsible accountant of the bank.
Upon the receipt of cash checkbooks from the cash department, the responsible accountant of the bank shall perform the following:
a) verification of the compliance and the presence of the number of check forms in the checkbook;
b) verification of the sequence of numbers of the check forms from the checkbook;
c) filling in the cover of the cash checkbook (see Attachment 1) under columns “series”, “from no.”, “to no. ”, “account no.” The following data, accordingly: series, number of the first check form from the checkbook, number of the last check form from the checkbook and number of the bank account of the holder of the account opened with the given bank;
d) entering the name of the holder of the bank account, complete legal address according to the list of specimen of signatures and of the round stamp, and in compliance with the registration certificate issued according to the provisions of the laws in force on the front of each check in the top left corner, under the name and the acronym of the National Bank of Moldova within the space marked by two dotted lines, of which the first line lies over the inscription “(name of the check issuer)”;
e) application of the bank’s rectangular stamp on the checkbook cover within the space marked by dotted line, under which the inscription (“space for the stamp of the bank”) is printed and on each separate check within the space marked by dotted line, under which the inscription (“stamp of the bank”) is printed. The rectangular stamp of the bank must contain the following data: name, code and legal address;
f) filling in the account number, fiscal code of the holder of the bank account, as well as the
bank’s code on the front of each check, accordingly, in the top right corner within the spaces marked
by continuous lines, under which the inscriptions “(account no.)”, “(fiscal code)”, “(bank’s code)” are
printed and registering the cash checkbook into the list of specimen of signatures and of the round stamp of the holder of the bank account;
g) handing over the cash checkbooks to the cashier to be issued to the person authorized by the holder of the bank account.
Upon the receipt of the cash checkbooks from the responsible accountant, the cashier shall verify the identity of the holder of the bank account or of the person authorized by the holder of the bank account, to whom the cash checkbooks are issued against the signature on the request and shall
apply own signature on the request form, which, subsequently, is sewn in the file with the cash department’s documents of the operational day.
[paragraph 3 of p.3.3 modifed by the Decision of the Council of Administration of the NBM no.6 of 16.01.2003]
Upon the receipt of the cash checkbooks, the person authorized by the holder of the bank account shall verify the compliance of data (numbers) of cash checkbooks in the presence of the bank’s cashier.
[p. 3.3 in the wording of the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]

4. REQUIREMENTS RELATED TO THE CASH CHECKBOOK’S CHECK
FILING IN AND USE BY THE ISSUER
[Title of p.4 in the wording of the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.1. The check shall be filled in strictly according to the provisions of this Regulation.
4.2. The check shall be hand-written and signed by the issuer in blue or black ink only. The text
of the check shall not be rectified or erased.
4.3. Upon the check issue it is necessary to strictly observe the sequence of cash checkbook’s
forms.
4.4. The check shall be cut out from the cash checkbook only after issuance.
4.5. The working life of the check is 10 working days. The date of issue shall not be taken into
consideration.
4.6 In case an error was committed upon the check issuance, the check form shall be considered void. The void check form shall be kept in the cash checkbook. The issuer shall write ”Void” corner wise on the void check form, indicating the date and applying the signature.
4.7 In case of a new fiscal code assignment or the round stamp change of the issuer, the cash checkbook shall be returned according to the provisions under p.4.39 of this Regulation and a new cash checkbook shall be issued.
[p. 4.7 modifed by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 4.7 modifed by the Decision of the Council of Administration of the NBM no.380 of 15.12.2005]
[Pts. 4.8, 4.9 are excluded by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.10 The special marking following the inscription “Amount in lei” is meant to filling in the amount in figures. The space for entering the amount in figures is provided with separators of number order and separator for decimal figures. The amount in figures shall be aligned to the right, while the remaining clear space shall be cut up by the issuer with two continuous lines to avoid frauds.
The spaces marked by continuous lines, under which the inscriptions ”(place of issue)”,
“(date)”, ”(month with letters)”, ”(year)” are printed, shall be filled in by the issuer with the place of the check issue, the issue date, month and year.
4.11 The name and the surname of the check issuer’s mandatory shall be entered according to the identity card data in the space marked by a rectangle following the inscription “Pay” on the line under which the inscription “(name, surname of the manadatory)” is printed.
[p. 4.11 completed by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.12 The check issuer shall enter the amount in words starting with a capital letter and aligning to the left of the space followed by the word “lei”, the amount of bani in figures and the word “bani” without being separated in the space marked by a rectangle containing the inscription “amount in words”. The vacant space following the word “bani” shall be cut up with two continuous lines.
4.13 In the space marked by a rectangle containing the inscription “Signatures of the issuer” followed by two continuous lines on which the first and the second signatures of the check issuer or of the fund manager shall be applied according to the list of specimen of signatures and of the round stamp.
4.14 The inscription “Stamp of the issuer” indicates the place of the check issuer’s round stamp application which must correspond to the specimen of the list of specimen of signatures and of the round stamp handed over to the bank. The issuer shall apply the stamp only after having filled in all the check’s elements (on the front and back sides), and verified them and after the check has been signed by the responsible persons.
4.15 The round stamp of the fund manager shall be applied by the fund manager at the issue of the check from the cash checkbook for the cash receipt on the inscription “Stamp of the issuer” and shall correspond to the specimen of the list of specimen of signatures and of the round stamp handed over to the bank. The stamp shall be applied by the fund manager only after all check’s elements have been filled in (on the front and back sides), and verified and after the check has been signed by responsible persons.
C H E C K S T U B :
4.16 The check stub elements shall be filled in at the same time with the check filling in.
4.17 The special marking following the inscription “Amount in lei” shall be filled in with the amount in figures. Separators of number order and a separator for decimal figures are provided for the space assigned for entering the amount in figures. The amount in figures shall be aligned to the right, while the vacant space shall be cut up by the issuer with two continuous lines to avoid frauds.
4.18 The vacant space above the continuous lines, under which the inscriptions “(date)”, ”(month with lettres)”, ”(year)” are printed, shall be filled in by the issuer with the check issue date, month and year.
4.19 The vacant space above the continuous line, under which the inscription “(name and surname)” is printed, shall be filled in by the issuer with the name and the surname of the check issuer’s mandatory according to the identity card data.
[p. 4.19 completed by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.20 The space marked by two continuous lines under the inscription ”Signatures of the issuer” is provided for the first and the second signature according to the list of specimen of signatures and of the round stamp of the issuer.
4.21 Upon the issue of the check from the cash checkbook for the cash receipt by the fund manager, the space marked by two continuous lines under the inscription ”(signatures of the issuer)” is provided for the first and the second signature of the fund manager according to the list of specimen of signatures and of the round stamp handed over to the bank.
4.22 The check issuer’s mandatory shall apply his/her own signature to confirm the receipt of the check from the issuer under the inscription “Signature of the mandatory for the check receipt” in the space marked by one continuous line, under which the inscription “(signature)” is printed.
[p. 4.22 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.23 The issuer’s mandatory shall fill in the space marked by continuous lines, under which the inscriptions “(date)”, ”(month with letters)”, ”(year)” are printed, with the date, the month and the year of the check receipt from the issuer.
C H E C K B A C K :
4.24 The space marked by three continuous lines, with the inscription “(name of the public institution)” under the first line, shall be filled in by public institutions served by territorial treasuries or the fund depositary according to the registration certificate.
4.25 The first and the second signature of authorized persons of the public institution, the fund
depositary, acccording to the list of specimen of signatures and of the round stamp shall be applied in
the space marked by two continuous lines under the inscription “Authorized signatures”.
4.26 The round stamp of the public institution served by the territorial treasury or the fund
depositary shall be applied on the inscdription “Stamp of the public institution“.
4.27 Columns “Symbol” and “Purpose of the payment (for legal persons)/ Units, notes (for
banks)”, Amount (lei), “Art”, “Para” shall be filled in by the issuer according to the provisions of
normative acts in force.
4.28 The space marked by a rectangle with the inscription "Signatures of issuer” shall be filled in with the first and the second signature according to the list of specimen of signatures and of the round stamp of the issuer.
4.29 As a confirmation of cash receipt, following the inscriptuion ”Received the amount indicated on the check”, the mandatory of the issuer shall enter his/her surname and sign above the inscription “Signature”.
4.30 The data of the identity card: type of the identity document, series, number, name of the issuing institution, date, month, year and place of issue are entered by the check issuer into the spaces marked by continuous lines following the inscription “Data related to the identification of the issuer’s mandatory”, after the inscriptions “Presented”, ”Series”, “No.”, “Issued by”, “Place of issue”.
[p.4.30 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.31 The bank’s officer who has verified the check shall apply his/her signature in the space
marked by continuous line following the inscription ”Verified controller” below the inscription
“Disposition of the bank”.
[p. 4.31 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.32 The space marked by three continuous lines following the inscription “To be paid”, under which the inscriptions “(date)”, “(month with letters)”, “(year)” are printed, shall be filled in by the responsible accountant with date, month, year of the check payment. The accountant responsible for the cash check verification shall apply as confirmation his/her signature in the space marked by a continuous line following the inscription “Responsible accountant”.
4.33 The space marked by a continuous line following the inscription “Paid to cashier” shall be
filled in with the signature of the cashier who issued the cash money.
4.34 The back of the check stub marked by a continuous line following the inscription “no.”
from under the inscription “Collection order” shall be filled in with the number of the order of
collection in the issuer’s cash office.
4.35 The space following the inscription “from”, marked by three continuous lines, under which the inscriptions “(date)”, “(month with letters)”, “(year)” are printed, shall be filled in with the date of conclusion of the order of collection in the issuer’s cash office.
4.36 The space marked by a continuous line under the inscription “Chief-accountant” shall be filled in with the signature of the chief-accountant of the check issuer as confrimation of cash receipt in the issuer’s cash office.
4.37 The check issuer is obliged to keep the stubs of used checks, void checks and unused checks according to the provisions of normative acts in force.
[p. 4.37 modified by the Decision of the Council of Administration of the NBM no. 380 of 15.12.2005]
4.38 In case of closing the bank account or of a receipt of a new cash checkbook, the holder of the bank account must return to the bank the cash checkbook attached to the request on cash checkbook return (Attachment 4), where the numbers of unused (void, blank) checks are indicated. The checkbook shall contain all the stubs of used checks, as well as all unused (void, blank) checks with their stubs.
[p..4.38 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.39 After having verified the veracity and the correctness of the request of the holder of the
bank account conclusion related to the cash checkbook return, the bank’s responsible officer:
a) shall verify the availability of the unused (void, blank) checks, as well as of all the stubs of
used, unused (void, blank) checks, shall collate them with the request data and confirm their compliance by his/her own signature;
b) shall cancel the unused checks from the cash checkbooks cutting out with triangles the places for signatures, after which shall return to the issuer of the check the stubs of used checks, while the cash checkbook with unused checks is sewn in the file with the documents of the day attached to the request;
c) shall enter the date of cash checkbook return and the account closing date into the list of
specimen of signatures and of the round stamp.
[p. 4.39 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
4.40. In case of check loss from the cash checkbook, the issuer (the issuer’s mandatory) must immediately notify the paying bank, indicating the check’s number, series and the issue date of the check or of the cash checkbook.
Based on the information received, the paying bank shall stop the issue of cash from the account of the issuer. The lost cash check shall be registered into a special register.
[p.4.40 modified by the Decision of the Council of Administration of the NBM no.184 of 31.07.200]
[p. 4.40 modified by the Decision of the Council of Administration of the NBM no.380 of 15.12.2005]

5. ISSUANCE OF CASH BASED ON THE CASH CHECK
FROM THE BANK ACCOUNT OF CHECK ISSUER
[Title of p.5 in the wording of the Decision of the Council of Administration of the NBM no.184 of 31.07.2002]
5.1. The primary conditions of check examining and receiving for execution by the bank are as follows:
a) the existence of sufficient available money means on the account of the check issuer for the issuance of the cash amount;
b) the check effective validity term;
c) the availability of the payment document related to mandatory payments transfer as in accordance with the provisions of the normative acts in force.
d) the availability of the identity card and of the copy of the identity card of the issuer’s mandatory or of the issuer (in case the cash is issued to the issuer himself/herself);
[p. 5.1 modified by the Decsion of the Council of Administration of the NBM no.6 of 16.01.2003]
[pct. 5.1 modified by the Decsion of the Council of Administration of the NBM no.184 of 31.07.2002]
5.2. If the primary conditions are met, the bank officer shall verify:
a) the check safety features;
b) the correctness of the check conclusion according to the provisions of this Regulation;
c) the legality of cash destination requested as in accordance with the normative acts in force;
d) the correspondence of the amount written in words with the amount in figures;
e) the identity of the issuer’s signatures and of the round stamp, and, in case of investment funds
and depositary, with those from the list of specimen of signatures and of the round stamp kept with the
bank;
f) the correspondence of data related to the identity of the issuer’s mandatory or of the issuer (in,.case the cash is issued to the issuer himself/herself) indicated on the check with data of the identity card and shall apply as confirmation his/her signature on the copy of the identity card in the presence of the mandatory or of the issuer;
[p. 5.2 modified by the Decsion of the Council of Administration of the NBM no.6 of 16.01.2003]
[p. 5.2 modified by the Decsion of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 5.2 completed by the Decsion of the Council of Administration of the NBM no. 380 of 15.12.2005]
5.3 Afterf having verified the data, the bank officer:
a) shall apply the signature on the line following the inscription "Verified Controller";
b) shall register the check in the cash expense register, which is verified at the end of the
operational day in common with the cashier responsible of cash issuance;
c) shall pass the check and the copy of the identity card of the issuer’s mandatory or of the issuer himself/herself (in case the cash is issued to the issuer) to be verified by the responsible officer with the right of signature for the cash issuance;
[p. 5.3 modified by the Decsion of the Council of Administration of the NBM no.6 of 16.01.2003]
[p.5.3 modified by the Decsion of the Council of Administration of the NBM no.184 of 31.07.2002]
5.4 The officer with the right of signature:
a) shall verify the correctness of the check filling in according to the provisions of this
Regulation, the correspondence of the copy of the identity card to the original, as well as the registration of the check into the cash expense register;
b) shall verify the legality of the cash destination requested according to the normative acts in force, and indicate the data of check payment;
c) shall apply the signature on the line following the inscription "Responsible accountant";
d) shall pass internally the check and the copy of the identity card of the issuer’s mandatory or of
the issuer (in case the cash is issued to the issuer himself/herself) to the payment vault.
[p. 5.4 modified by the Decsion of the Council of Administration of the NBM no.6 of 16.01.2003]
[p. 5.4 modified by the Decsion of the Council of Administration of the NBM no. 380 of 15.12.2005]
5.5 The issuance of cash by the bank to the holders of bank accounts shall be carried out as in accordance with the provisions under p.5 of this Regulation and of the Regulation on cash operations within the banks of the Republic of Moldova, approved by the Decision of CA of NBM no.47 of February 25, 2000, with further modifications and completions, the Instruction on the way of conclusion of the Statistic Report on the volume of cash operations at the financial institutions of the Republic of Moldova, form no.01006/1, no.44, approved by the Decision of CA of NBM no. 31 of August 26, 1997 and other normative acts in force.
[p. 5.5 modified by the Decsion of the Council of Administration of the NBM no.184 of 31.07.2002]
[p. 5.5 modified by the Decsion of the Council of Administration of the NBM no. 380 of 15.12.2005]
6. FINAL DISPOSITIONS
6.1 This Regulation enters into force on March 1, 2000.
6.2 Starting with the day of this Regulation enforcement the use of cash checkbooks of the USSR state bank shall be banned.