what is the Payment Procedure of a plot in DHA Lahore?
Answer: The purchaser party pay the Pay Order(Banker’s Cheque) to seller after transferring the plot or
after the procedure of transferring of a plot or after signature of the seller on the table of the transfer officer
How Seller can Save his/her payment after transferring the DHA Lahore Plot?
Answer: The Seller of the Plot will receive the Covering Letter from the Transfer officer after transferring the
plot and have to give the covering letter after receving his plot’s payment through Pay Order(Banker’s Cheque) or through Demand Draft.
what is the Pay Order, or a Demand Draft?
Answer: Pay Order, or a Demand Draft is a payment instrument which use for a payment procedure of a property/plot in DHA Lahore by banks.
What is the difference between demand draft and pay order?
Answer:The Difference between is that A demand draft is a prepaid negotiable instrument, wherein the drawee bank undertakes to make payment in full when the instrument is presented by the payee for payment. The demand draft is made payable at a specified branch of a bank at a specified center. In order to obtain payment, the beneficiary ha to either present the instrument directly to the branch concerned or have it collected by his bank through the clearing mechanism.
A banker’s cheque(Pay Order) is another payment instrument which is used by the banks to settle payment obligations on behalf of their customers. This instrument is guaranteed by the bank for its full value and is similar to a demand draft. In practice, these instruments are payable at the branch of issue and are used for payment within the local clearing jurisdiction.