Definition: A check bearing a date later than the date on which it is delivered.
Example
A buyer gives a broker a deposit check dated for the following week, and the broker addresses its status with the parties under the applicable rules.
Keep the distinction clear
A postdated check is not the same as cleared funds. Acceptance and deposit handling must comply with the parties' agreement and escrow requirements.
Related terms
Deposit · Earnest Money · Escrow Account
Keep studying
References: FREC Rule 61J2-14.008
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