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By ADRIAN STEWART CO
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Monday, February 27, 2017
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MANILA – The House of Representatives committee on trade and industry has recently approved the bill banning commercial establishments from prescribing expiration dates on various gift certificates.
Quezon City Rep. Winston Castelo said House Bill 3091 provides that all gift certificates, checks and cards shall have no expiry dates and should be honored by business establishments until fully used up by the holder.
Castelo added that the only times gift checks may no longer be redeemed are when they are lost due to no fault of the supplier or when they are mutilated or defaced to the point that their security features can no longer be authenticated.
“A gift certificate is as good as cash and since cash does not expire, then a gift certificates should also not expire,” Castelo said. “If my bill is enacted, it will protect millions of consumers who buy store certificates as gifts for friends and relatives.”
According to Castelo, it has been the practice of almost all establishments to put expiry dates on their gift certificates, checks or cards supposedly to prevent tampering over time.
“It is cheating the consumer. It makes no good business sense for suppliers of gift certificates, checks or cards to put expiry dates on what amounts to be cash per se,” Castelo said.
“If the reason is the risk of tampering, then it is the responsibility of the supplier to put security features,” added Castelo, who also said it is the Department of Trade and Industry who has the mandate to issue rules and regulations, and sanctions for violators./PN
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