Hyundai Forklift Philippines

Gift Certificates (GCs) No More Expiry Dates by the Department of Trade and Industry

Starting on July 1, 2012, all gift certificates will be no longer have expiration dates, according to the Department of Trade and Industry (DTI) new regulations. Gift Certificates must be considered "good as cash."

Gift Certificates must consider good as cash
Gift Certificates must consider good as cash
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All retailers can no longer issue gift certificates (GCs) with expiration dates. And GCs should be considered "good as cash" since it has been paid in advance for future use, according to DTI.

The DTI new regulation will be done in two phases. "The order will be published and will take effect after 15 days. All GCs that will be produced starting July 15 will be given a 2-year validity period. It said this should be enough time for retailers time to come up with safety nets for their GCs."

"By July 1, 2012, all GCs should no longer bear any expiration dates. Unused and unexpired GCs by that time will be revalidated and the expiration removed."

DTI Undersecretary Zenaida Maglaya said, "Kapag ang gift check na hawak-hawak n'yo ngayon ay expiring before July 1, gamitin nyo na po. Ngayon, kung ang expiry date ay lalagpas sa July 1 at gusto nyo pong palitan para ma-extend o magkaroon ng expiry date ay puwede nilang iprisinta sa supplier para palitan at alisin ang expiry date."

Meanwhile, Maglaya said, some Gift Certificates which are connected to promos are exempted from the DTI order. And also to the gift certificate that issued to an employee as "reward."

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