It might seem like a time saver to abbreviate 2020 to ‘20’ on your paperwork, but doing so could open you up to fraud.
If you use the shortened ’20’ to denote the year, it’s possible for an unscrupulous person to fraudulently alter the date to any year this century by adding a couple of digits. For example, someone could turn ‘20′ into ‘2019’ – or even ‘2000’ – and then claim you failed to pay on time or meet certain obligations under a contract.
Writing out the year in full removes any ambiguity and is good record keeping practice, especially in legal documents and agreements.
Making this small change will help limit opportunities for fraud to happen – and it may save you time and trouble in the long run!