Are We Seeing The End To Post Dated Cheques?

When Dubai's property market was booming, it was not uncommon for developers to collect post dated cheques ("PDCs") from buyers as a method to secure future installments towards off-plan purchases. Similarly, it is common practice in the UAE for landlords and banks to collect PDCs for future lease and loan payments respectively. This practice is considered by many as a method of securing payment, because of the criminal liabilities (i.e. threat of imprisonment) attached to the failure to honour a cheque in the UAE. Recent high profile cases, as well as the introduction of a new law in Dubai, have highlighted the issues with relying on PDCs, and the question is whether we have seen the end of their use in the market or whether they will remain an established tool for credit and performance.