חוק סליקה אלקטרונית של שיקים, התשע"ו-2016Law on Electronic Clearing of Checks, 2016 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Electronic Clearing of Checks Law, 2016 (hereinafter - the Law), was passed in its second and third readings on 1 February 2016. This Law concerns the transition from physical clearing of checks to electronic clearing of checks, carried out by means of computer communication. The Law provides that notwithstanding the provisions of Section 44 of the Bills of Exchange Ordinance, which requires the presentation of an original bill for payment, presentation for payment of a check between a collecting bank and a drawee bank shall be made by presenting a computerized check. This means a computerized scan of the original check, on both sides, and its storage and transfer between banks by means of computer communication. The scanned check must be legible and identical in content and form to the original. Electronic clearing of checks will be possible only where the check was deposited for collection at the collecting bank, and the bank is the one that scans the check, or when the customer scanned the check and transferred it to the bank for collection, and this only if the check is payable to the beneficiary only and is not negotiable. A bank shall be held liable for damage caused to its customer due to failure to retain a check that reached it and was scanned by it. The Law also establishes a provision regarding the drawee bank's refusal to honor a computerized check, according to which the banks, both the collecting bank and the drawee bank, shall provide their customers - both the one who paid and the one who was paid by means of the check - with notice of the drawee bank's refusal to honor a computerized check, and the reason for the refusal. In addition, the bank shall provide the customer entitled to it, upon request, with a printout of the computerized check specifying the reasons for the refusal and the name of the collecting bank, in order to enable the customer to collect the check. Furthermore, the Law establishes provisions regarding the admissibility of the printout of a computerized check in legal proceedings, such as, for example, execution proceedings. The Law also provides that from the moment of the computerized scanning of the check and its storage in the banking system, after a certain period to be set by the Governor of the Bank of Israel, with the agreement of the Minister of Public Security, in consultation with the Minister of Justice and with the approval of the Knesset Economic Affairs Committee - the bank may destroy the original check. This Law shall take effect six months from the date of its publication. However, during an interim period of 18 months from the effective date, and in order to allow all banks to prepare for the new clearing format, both electronic clearing and physical clearing will be permitted.

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