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MANILA – Starting July 1, all gift certificates should have no expiry dates, according to the Department of Trade and Industry.
Under DTI Administrative Order No. 10-04 titled "Guidelines on the Issuance, Use and Redemption of Gift Checks, Certificates or Gift Cards," all suppliers, issuers, distributors and sellers are prohibited from issuing or selling certificates or cards with expiry dates.
Gift checks usually expire after two years.
DTI defines a gift check, certificate, or card as an instrument issued by a supplier to an individual, partnership or a juridical entity for monetary consideration evidencing a promise by the issuer that consumer goods or services will be exchanged in favor of the bearer upon presentation of said gift certificate, check, or card to the value, credit, specific good, service or event shown in the instrument.
"It represents value held in trust by the issuer/supplier/distributor, thus DTI intends to regulate its use to protect consumers and ensure that they are not unduly deprived of their money," the agency said.
The order provides that all gift checks, certificates or cards with no expiry dates shall be redeemable until used by the bearer.
Replacement
"Terms and conditions of unused gift checks/ certificates/ cards issued before the effectivity of this order shall be honored; but those bearing expiry dates beyond June 30, 2012 shall be subject to revalidation or replacement," the DTI order read.
It said goods and services that are paid with gift certificates, checks or cards are qualified in promotional sales activities, loyalty programs, warranties, return policies for cash purchases, and discounts for senior citizens and persons with disability.
Suppliers cannot be held liable for gift certificates, checks or cards that are:
- lost due to no fault of the supplier; andÂ
- mutilated or defaced due to no fault of the supplier and such damage prevents the supplier from identifying the security and authenticity features thereof.
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