Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
given by the account holder.
a) At the time a stop-payment order is placed, there must be sufficient fund
in the account that covers the value of the Cheque requested to stop
payment;
b) The amount of money on the Cheque under the stop-payment order will
not be withdrawn until the account holder gives, in writing, an order to
cancel the stop-payment order, however, the placement of stop payment
order shall be cancelled upon the expiry date of the Cheque or by the
court order
c) The stop payment sanction shall be released if the drawer fails to produce
police evidence within 15 working days that show the stop-chequepayment
order was in fact requested as the cheque was lost or stolen.
d) In the case of an overdraft account, the branch shall first “Stop” the
Cheque on the system and send written request to credit CPC at head
office/district stating the reason, the amount and other particulars to
deduct the amount from the approved limit; The credit CPC in its part
shall respond by deducting the limit or state the reason if otherwise to
the requesting branch as soon as possible.
e) When a blank Cheque is reported to have been lost, the account holder is
not obligated to deposit money to her/his account when she or he
presents the stop-payment order. However, the customer shall be advised
that if the reported Cheque is not blank or issued Cheque to customer
shall make her/him liable.
I. Request for a Stop-Payment Order
The Customer Service Manager
a) Receives a letter of application (refer form CBECATS013 )that indicates
the reason that the account holder found it necessary to give the stoppayment
order;
b) Makes sure that the stop-payment order is placed by authorized person
CATS Procedure | 132