What is a "Travellers' cheque"? What is the validity period for a Travellers' Cheque?

It is a type of cheque which issues to those persons who travel abroad. These are undated cheques, when traveller put date on it , the traveller cheque become valid.

Cheques issued by a bank and function as cash but are protected against loss or theft when travelling. Travellers' Cheques are usually undated at the time of issuing and the purchaser once put the date, it becomes valid as if in the case of an ordinary cheque.  The risk of carrying cash  can be avoided while travelling abroad but serves the purpose of carrying cash for regular purposes. 

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Agreed with the answer VENKITARAMAN

Very good answer Mr Venkitaraman