Published on June 25th, 2012 | by rodmagaru |0
No More EXPIRY DATES for all our GCs, Gift Cards and Gift cheques Starting July 1 -DTI
I think this is one of the best news I have heard this year. The Department of Trade and Industry (DTI) recently announced ithas scrapped the practice of imposing expiry dates on all gift checks/certificates/cards issued by commercial establishments issued after June 30, 2012.
As someone who (Most of the times) receives Gift Certificates from some engagement and special events, this is quite an interesting development since most of my GCs expired on my end due to fail monitoring.
Section 5 of the order stated that “promotional sales activities, loyalty programs, warranties, return policies for cash purchases and discounts for senior citizens or persons with disability as provided for under the relevant laws and rules and regulations, shall apply likewise to purchases of goods and services that are paid for with gift certificate/check/card.”
The government implemented the DTI Administrative Order No. 10-40, which was signed on June 25, 2010, this year after giving commercial establishments a two-year grace period.
But I’m sure there are still unredeemed prepaid expenses (cards, certificates) that still in the hands of suppliers and business establishments so lets not spare ourselves from relying onto this. But hey! THIS IS GOOD NEWS RIGHT?