The Central Bank of Trinidad and Tobago has published guidelines which provide some examples of the circumstances that they would consider appropriate for redemption of the old $100 cotton notes in the three (3) month period after 1st January 2020.
Redemption of the old $100 cotton notes can be done either through commercial banks or the Central Bank. The Central Bank has extended its working hours to facilitate the exchange and will now be open from 8am to 3pm on weekdays until 31st December 2019. According to the Central Bank: By way of Legal Notice No. 357 of 2019, the Trinidad and Tobago $100 notes bearing any series date prior to 2019 ($100 cotton notes) will cease to be legal tender (demonetized) from January 1, 2020. Act No. 22 of 2019 Miscellaneous Provisions (Proceeds of Crime and Central Bank) Act sets out the broad parameters of the demonetization. In particular, Act No. 22 specifies that the Central Bank of Trinidad and Tobago shall redeem at face value any of the specified notes that are presented within the period of three months after the appointed date (January 1, 2020) if it is satisfied that the failure to present the notes for redemption prior to the appointed date resulted from circumstances beyond the control of the true owner of the notes or that there was some other good or sufficient reason for the failure.
The guidelines listed below provide some examples of the circumstances that the Central Bank would consider appropriate for redemption of the old $100 cotton notes after the 31st December 2019 deadline:
You can visit the Central Bank's website for further information.
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