Define: Bounce Charges
Bounce Charges means a penalty payable by the borrower to the lender when issued payments are dishonoured or returned.
Bounce Charges means a penalty payable by the borrower to the lender when issued payments are dishonoured or returned.
Relevant Circumstances
- In cases of default or delayed payments
- When there is an insufficient balance in the account of the payer
- When issued cheques bounce due to any reason