DAGUPAN CITY - The Department of Trade and Industry (DTI) yesterday informed the public that gift certificates or gift checks (GCs) have no expiration dates and could be used repeatedly the full value is utilized.
DTI-Pangasinan OIC provincial director Natalia Dalaten said this is in accordance to Republic Act 10962 or the Gift Check Act of 2017, which prohibits issuers from releasing GCs that bear an expiry date and from imposing an expiry date on the stored value, credit, or balance of the gift check.
Refusing to honor the unused value, credit, or balance stored in the GC is also not allowed.
“However, those GCs issued and were given as loyalty, rewards or as part of promotional programs are not covered by the said law,” Dalaten said.
Coupons or vouchers that entitle the holder to a discount of a particular good or service, or that may be exchanged for a pre-identified good or service are also not included in the rule.
“Issuers and its accredited merchants may refuse to honor a GC if it is lost due to no fault of the issuer, or it is mutilated or defaced not due to the issuer’s fault and said damage prevents the issuer from identifying its security and authenticity features,” she added.
Dalaten said that violation of the Gift Check Act would be fined by the DTI from P500,000 to P1 million for the first offense.
“A second offense would mean the suspension of the issuance of GCs by the erring issuer. A third offense would merit the cancellation of the issuer’s right to issue GCs together with the fine,” Dalaten said.