Partially-torn and damaged notes are legal tenders
December 27, 2015 7:20 pm
Torn notes are still legal tenders and is acceptable in the marketplace.
The Consumer Council of Fiji says it has received complaints from consumers that many have been turned away by certain traders at the point of sale because of torn and partially mutilated notes at hand.
CCF’s Officer in charge Bindula Prasad says this unfair practice must be stopped.
All traders/retailers and service-providers are reminded that partially-torn and damaged notes are legal tenders in Fiji as long as the value of it can be ascertained.
According to the Reserve Bank of Fiji (RBF), if a note is not severely damaged or mutilated and it is not in a state where value cannot be ascertained, it should be acceptable by the retailers.
Retailers must accept such notes and make a deposit with their respective banks.
Consumers can also have their damaged notes exchanged at a bank branch near to them or at the RBF.
The Council is calling on the business houses and the service-providers to educate their staff or agents on the acceptance of such notes.