As a result, there will no longer be any expiration period for GCs except for those issued as part of a promotion, Trade Undersecretary Zenaida Maglaya said Monday.
For some consumers, this is will be a lasting gift from the Arroyo-led Department of Trade and Industry (DTI): Gift Certificates without expiration.
Undersecretary Zenaida Maglaya announced yesterday that the DTI signed a memorandum lifting restrictions on when Gift Certificates are supposed to be used. In effect, it will order all retail establishments to honor gift certificates that have expiration dates on them. The only restriction retained are those certificates issued under a promo that are 'time-bound'.
This is great news especially with the Rustan's Gift Certificate I'm holding on to, which I won during a game at a friend's wedding - more than a year ago. I don't really shop at Rustan's plus this certificate has a lot of restrictions so I have yet to decide, which item I can use it to buy things on. I'm biding my time because it has no expiration date and I don't shop at Rustan's. However, I do agree that money spent on Gift Certificates should not have deadlines on them - where do you see legal tenders having a deadline? That's ridiculous.
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