Cheques MUST be issued and payable to registered businesses, companies/institutions but not individuals

Client must present the cheques in person

Referred by client or staff

Open account with IAF

Cheques should not be post-dated

Maximum amount for discounting is above 1,000,000(for supermarkets)

Maximum cheque to discount is 500,000

4% of the face value of the cheque 70% of face value.

No term, cheque shall be banked and cleared within 3 days

cheques from specific supermarkets shall be banked within 90 days