THE Department of Trade and Industry Region (DTI-Central Luzon) reminded anew the public on the redemption, use and non-expiration features of gift checks, gift certificates and gift cards.
The agency cited its Department Administrative Order 10-04 and Republic Act No. 10962, which states that all sellers, issuers, distributors and sellers are prohibited to issue and/or sell gift certificates, checks or cards with an expiry date.
All gift checks, certificates or cards with no expiry dates shall be redeemable until used by the bearer, while unused or unexpired ones after June 30, 2012 shall be entitled to replacement after revalidation by suppliers, DTI said.
However, the agency clarified that gift certificates, checks or cards that are distributed to consumers under awards, loyalty or promotional programs are not covered by the regulation.
“Under the law, sellers are also prohibited from imposing expiry dates on the stored value or credit of the instruments. Refusing to honor the unused value, balance or credit of a valid gift check, certificate or card is expressly prohibited by law,” it furthered.
DTI warned non-compliant merchants or sellers of a fine of not less than P500,000 if proven to be violating the law.