Overpayment/Customer credits not taken in Canada

[Andreas]

A buddy of mine in the States told me the following:

"Overpayments by the customer and customer credits not claimed have to be transfered to the state/federal by law" :shock:

He asked if something similar exists in Canada, and I told him I don't know.

Is anybody aware of any legal guidelines in Ontario/Canada on how to handle Overpayments made by customers or Credits not claimed by customers?

THANKS

[nelsona]

Ontario does not have such a law, YET. they tried in the 80's.

See:

http://www.unclaimedassets.com/canada.htm

which addresses unclaimed bank accounts, but the principle is the same.

[nelsona]

tag escheat