Ultimate Guide To Write A Compare

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As a rule, the bill is written out in currency of the country where payment has to be made. But the currency of payment on the bill can not coincide with currency in which it is written out. In this case it is necessary to specify a course of recalculation of currencies in the text. If such instruction is not present, take the official ratio of currencies operating in a place and on the maturity day for a course.

In the draft the drawee after the acceptance of the bill of exchange has the direct obligation to the payee. The drawer bears conditional responsibility. He undertakes to pay the bill sum if the drawee did not accept the bill, accepted, but did not pay or in general refused to pay. It is natural that for emergence of obligations under the draft the payee has to present it for acceptance and payment since non-performance of these conditions can be referred to his fault in time.

The drawee has the right to demand presentation of the bill to him again every other day after the first presentation. If after that term does not follow acceptances, the bill is deemed accepted not. The debtor has no right to demand leaving from himself the bill for the acceptance.

nominal (full) endorsement. In this case in a transfer inscription the name or the name of an endorsee is entered. When obtaining the bill according to the full endorsement it is necessary to check a continuity of transfer inscriptions;

Payment on the bill has to follow immediately presentation. The delay of payment is possible only at emergence of force majeure circumstances which existence has to be confirmed with competent authority.

The endorsement with reservations – the endorsement "the currency to an assignment", meaning simple assignment to perform operations on the bill, "currency in providing", "currency as a deposit", the bills meaning pledge may contain reservations "for collection", "as entrusted".

blank endorsement. It is not specified in this transfer inscription, by order of what person it is necessary to make payment, but it is signed by the endorsee. Such bill is considered exposed to bearer, and he can be transferred to other person by simple delivery. The blank endorsement can be turned in full (see niches, having made an inscription, by order of what person it is necessary to make payment. The blank endorsement the endorsement to bearer which is usually put into words "Is valid pay the bearer of this bill...";

All copies make the uniform bill, but each of them can address separately. Plurality of bills is necessary in order that one copy to send for the acceptance, and immediately to put another into circulation. The payer has to accept only one copy of the bill, otherwise it should pay on all copies. After the acceptance he is obliged to give the copy to the holder of the second copy of the bill of exchange therefore at endorsements on the second copies it is specified where there is the first. The first copy accepted by the payer is for payment shown, and his payment repays all other copies.