Limited Payability Cancellation Report: The process by which Treasury automatically cancels a government check that remains outstanding 12 months after the date of issuance.

What does limited Payability mean?

Limited Payability (LP) credit policy. Treasury identifies and records checks submitted to the government for payment. In the 14th month after issue, Treasury gathers information on checks not submitted for payment (determined to be “uncashed”).

What does it mean when you get a check from United States Treasury?

Watermark. ... The watermark you can look out for reads “U.S. Treasury,” which is visible from the front and back of the check when held up to a light. The sheerness of this watermark makes it so that it cannot be reproduced by a copier. Any check you receive that does not have this distinct watermark is fraudulent.