home Debit cards Check and bill concept types. Promissory note situations: the buyer paid with his own bill of exchange. Buyer's interest bill

Check and bill concept types. Promissory note situations: the buyer paid with his own bill of exchange. Buyer's interest bill

For a long time, bill settlements have not ceased to be popular among organizations. The reason for this is the dual nature of the bill: it can act both as a means of payment in commercial circulation, and as a way to commercial lending business entities.

According to Art. 142, 143 of the Civil Code of the Russian Federation, a bill is a security - a document certifying, in compliance with the established form and mandatory details, property rights, the exercise and transfer of which is possible only upon its presentation. At the same time, by virtue of Art. 815 of the Civil Code of the Russian Federation, a promissory note is a type of promissory note, according to which the drawer (or other payer specified in the promissory note) must pay the borrowed amounts of money upon the expiration of the period stipulated by the promissory note.

Accounting for bills of exchange has its own characteristics, and the accountant of a company practicing bill transactions needs to know these features. In this article, we propose, using specific examples, to consider the procedure for reflecting the buyer's own bills of exchange received as payment for the delivered goods on the accounting accounts of the organization.

What needs to be reminded

First of all, the holder of a bill should be aware of the deadlines for presenting a bill for payment, the observance of which will guarantee him the right to claim against bill debtors. A bill of exchange may be issued for:

On presentation;

At so much time from presentation;

So much time from compilation;

For a specific day.

This is stated in Art. 33, 34 , 77 Provisions on bills of exchange and promissory notes. If the term of payment is not specified in the bill, it is considered that it was issued with payment at sight. Setting the maturity date at sight means that the bill must be paid immediately after presentation. The bill must be presented for payment within one year from the date of its

drawing up, unless a different period is established by the drawer. The drawer may shorten this period or stipulate a longer period. In addition, the drawer may determine that a bill of exchange due at sight cannot be presented for payment before a certain date. In this case, it is from this period that the period for presentation will be counted.

Similarly, bills with a presentation period of a certain day are redeemed when they are presented to the drawer within one year from the date of their compilation. The drawer also has the right to shorten or extend the said term.

The date may be indicated indirectly if the due date for the bill is indicated at such and such time from drawing up. In this case, 365 (or 366, if the year is a leap year) days must be added to the date of the drafting of the bill. In the same way, this date is determined if the due date is so much time from presentation.

If the due date is indicated upon presentation of the bill, but not earlier than the named date, the due date is determined as the first day when the bill holder has the right to present the bill for payment plus 365 (366) days.

Distinguish simple promissory note (solo) and transferable (draft). A promissory note is an obligation of the drawer to pay a certain amount of money to its holder upon the occurrence of deadline. Transferable allows the payment of the specified amount to a third party - the holder of the bill (payer) with the consent (acceptance) of the payer.

If a bill of exchange is issued to pay for the delivered goods, it is recognized marketable . Any other bill will be treated as a financial bill.

In addition, the bill can be interest-free and act only as a means of payment in settlements with counterparties. Accordingly, there will be no income from the organization that acquired it. An interest-free bill can be discount . It is placed at a price below its face value (taking into account the discount) and can also be used in payments for purchased goods. A note with a fixed interest rate issued as a deposit instrument (which can also be settled with a counterparty) is percentage .

Note

Bill circulation on the territory of the Russian Federation is regulated by:

Federal Law No. 48-FZ of March 11, 1997 “On Transferable and Promissory Notes”;

the Convention on the Uniform Law on Bills of Exchange and Promissory Notes (concluded in Geneva on 06/07/1930);

Decree of the Central Executive Committee of the USSR, Council of People's Commissars of the USSR of 08/07/1937 No. 104/1341 "On the Enactment of the Regulations on a Transfer and Promissory Note";

Decree of the Government of the Russian Federation of September 26, 1994 No. 1094 “On the registration of mutual debt of enterprises and organizations with bills of a single sample and the development of bill circulation”.

How the promissory note received from the counterparty in payment for the shipped goods should be reflected in the accounting of the bill holder depends on which particular bill is received.

Accounting bills

Simple non-interest bearing bill

We propose to start the conversation by considering the following situation: an organization that sells goods receives from the buyer in payment for the goods its own simple interest-free bill.

In accounting, revenue from the sale of products and goods, income related to the performance of work, the provision of services (in this case, we are talking about the sale of goods), are income from ordinary activities ( clause 5 PBU 9/99 "Income of the organization"). Revenue is recognized when the conditions listed in clause 12 PBU 9/99. In this case, the amount of proceeds is reflected in the credit of account 90 “Sales” and the debit of account 62 “Settlements with buyers and customers”. At the same time, the cost of goods sold is debited from the credit of account 41 “Goods” to the debit of account 90 “Sales” ( Instructions for using the Chart of Accounts).

It should be noted that own bills received from the buyer when paying for the goods are not included in the financial investments. This follows from Clause 3 PBU 19/02 “Accounting for financial investments”. Their receipt can be reflected in the accounting on account 62 on a separate sub-account 62-in "Promissory notes received".

Organization “A” sold goods to organization “B” in the amount of 590,000 rubles. (including VAT - 90,000 rubles). The cost of production amounted to 300,000 rubles. For the goods received, the buyer issued to the supplier its own promissory note in the amount of 590,000 rubles. maturing in three months.

At the same time, the following sub-accounts opened to account 62 are used in the organization:

Sub-account 62-p "Settlements with buyers and customers";

Sub-account 62-in "Promissory notes received".

Contents of operation	Debit	Credit	Amount, rub.
	62-p	90-1	590 000
VAT charged	90-3	68-vat	90 000
Written off cost of goods sold	90-2	41	300 000
Promissory note received from buyer	62-in	62-p	590 000
The bill is repaid	51	62-in	590 000

discount bill

We dare to assume that in conditions of inflation and the high cost of money, settlements with interest-free bills are not so frequent. We propose to consider a situation in which, as a means of payment for the purchased goods, the buyer uses his own promissory note with a face value higher than the cost of the goods. At the same time, it is indicated that the payment term is upon presentation, but not earlier than the stipulated date. Thus, the seller organization, presenting a bill for redemption, receives funds in a larger amount, but with a deferred payment (gives the buyer a kind of commercial loan).

AT paragraph 6.2 PBU 9/99 it is said that when selling products and goods, performing work, rendering services on the terms of a commercial loan provided in the form of a deferment and installment payment, the proceeds are accepted as accounting in full accounts receivable.

In other words, the proceeds from the sale of goods is recognized on the date of its sale in the amount of receivables equal to the face value of the promissory note. The discount on the promissory note will also be recognized as income at the date of sale.

However in tax accounting discount income on a bill is reflected somewhat differently than in accounting.

Discount on a bill is accounted for by the holder of the bill as part of non-operating income ( paragraph 6 of Art. 250 Tax Code of the Russian Federation), is recognized as received and included in the relevant income at the end of the month of the corresponding reporting period, as well as on the date of presentation of the bill for redemption ( paragraph 6 of Art. 271, par. 2 p. 4 art. 328 Tax Code of the Russian Federation). That is, for each month there is a part corresponding to this reporting period total income by bill.

Upon receipt of such a bill, taxable temporary differences (NVR) and the corresponding deferred tax liability (IT) arise in the accounting of the bill holder. Hence the need to apply RAS 18/02 “Accounting for corporate income tax settlements” .

Recall that temporary differences are understood as income and expenses that form accounting profit (loss) in one reporting period, and the tax base - in another ( item 8

PBU 18/02). IT is recognized in the reporting period when NVR occurs ( item 12, 15 RAS 18/02).

note

When accruing income in the form of a discount on promissory notes with the clause “at sight, but not earlier”, the expected circulation period for the bill of exchange, determined in accordance with the promissory note legislation (365 or 366 days plus the period from the date of drawing up bills before the minimum date of presenting a bill for payment) (Letter of the Ministry of Finance of Russia dated 07.11.2008 No. 03‑03‑06/3/14).

Let's consider the above with a specific example, specifying that the discount income is taken into account in the income tax base in the manner described below, only if the taxpayer applies the accrual method.

Example 2

Let's use the conditions of example 1.

On April 20, 2013, for the goods received, organization "B" issued to organization "A" its own simple discount bill of 650,000 rubles, maturity - upon presentation, but not earlier than July 25, 2013. The bill was presented by the bill holder for payment and paid by the drawer July 26, 2013

The discount amount was 60,000 rubles. (650,000 - 590,000).

The income tax accounting policy provides that reporting periods are one month, two months, three months, etc., until the end of the calendar year.

To calculate the part of the discount in tax accounting, which should be reflected monthly in the non-operating income, the total amount of the discount must be divided by the estimated term of the bill of exchange and multiplied by the number of days of the actual circulation of the bill in a given month.

97 days have passed from the date of drawing up the bill to the minimum date of its presentation for payment. This means that the expected maturity of the bill is 462 days (365 + 97).

Accordingly, the discount amount will be calculated as follows:

For April - 1,299 rubles. (60,000 rubles × 10 days / 462 days);

For May - 4,026 rubles. (60,000 rubles × 31 days / 462 days);

For June - 3,896 rubles. (60,000 rubles × 30 days / 462 days);

For July - 50,779 rubles. (60,000 - (1,299 + 4,026 + 3,896)).

For a period of 4 months (from January to April) - 1,299 rubles;

For a period of 5 months (from January to May) - 5,325 rubles. (1,299 + 4,026);

For a period of 6 months (from January to June) - 9,221 rubles. (5 325 + 3 896);

For a period of 7 months (from January to July) - 60,000 rubles.

In the accounting of the organization "A" the following entries will be made:

Contents of operation	Debit	Credit	Amount, rub.
20.04.2013
Reflected revenue from the sale of goods	62-p	90-1	650 000
	90-3	68-vat	90 000
	90-2	41	300 000
Promissory note accepted	62-in	62-p	650 000
Reflected IT ((650,000 rubles - 590,000 rubles) × 20%)	68-pr	77	12 000
30.04.2013
Reduced IT (1,299 rubles × 20%)	77	68-pr	259,8
31.05.2013
Reduced IT (4,026 rubles × 20%)	77	68-pr	805,2
30.06.2013
Reduced IT (3,896 rubles × 20%)	77	68-pr	779,2
26.07.2013
The bill is repaid	51	62-in	650 000
IT is redeemed (12,000 - (259.8 + 805.2 + 779.2)) rub.	77	68-pr	10 155,8
VAT accrued from the discount amount*	91-1	68-vat	7 179,3

* I would like to draw attention to one point related to the calculation of VAT. It is known that the sale of goods is subject to VAT (clause 1, clause 1, article 146 of the Tax Code of the Russian Federation). When determining the tax base, proceeds from the sale of goods are calculated on the basis of all income of the taxpayer associated with settlements for payment for these goods received in cash and (or) natural form, including payment in securities (Clause 2, Article 153 of the Tax Code of the Russian Federation), as the cost of these goods, calculated taking into account the prices determined in accordance with Art. 105.3 of the Tax Code of the Russian Federation (Clause 1, Article 154 of the Tax Code of the Russian Federation).

At the same time, on the basis of paragraphs. 3 p. 1 art. 162 Tax Code of the Russian Federation the tax base is subject to increase by the amount of the discount on the buyer's bill of exchange received as payment for the sold goods in the part exceeding the amount of interest calculated on the basis of the CBR refinancing rates in force in the periods for which the interest is calculated.

This rule was also applied in example 2 when calculating VAT on the discount amount. In our case, the bill was repaid 97 days after it was received, the discount amount was 60,000 rubles. If we take into account that the CBR rate for 97 days (the period of stay with the bill holder) was equal to 8.25% and its size did not change, then, accordingly, the VAT base should be increased by the discount amount equal to 47,064.5 rubles. (650,000 rubles - 590,000 rubles - 590,000 rubles × 8.25% × 97 days / 365 days).

The amount of VAT will be 7,179.3 rubles. (47,064.5 rubles × 18/118).

Buyer's interest bill

Percentage any pre-declared (established) income (including in the form of a discount) received on a debt obligation of any type (regardless of the method of its execution) is recognized (clause 3 of article 43 of the Tax Code of the Russian Federation).

Note that only those bills are interest-bearing, for which the payment date is indicated at sight or at so much time from presentation. The interest rate must be specified in the bill. In the absence of such an indication, the condition is considered unwritten.

Interest is accrued on the promissory note amount from the date of drawing up the promissory note, unless another date is provided. At the same time, the terms established by law or given in the bill do not include the day from which the term begins to run (Articles 5, 73, 77 of the Regulations on a bill of exchange and a simple bill).

Assume that when paying for goods, a bill of exchange was received from the buyer, providing for the accrual of interest on the bill amount. In addition, it is assumed that the face value of the bill is equal to the sale value, and the interest on the bill is in excess of the face value.

At the same time, it must be said that in the regulatory legal acts, the methods of accounting income received on interest-bearing bills not stipulated. This means that when forming an accounting policy, the taxpayer needs to develop an appropriate method for accounting for interest on a bill, which is allowed by the legislation of the Russian Federation and regulatory legal acts on accounting (clause 7 PBU 1/2008 "Accounting policy of an organization").

So, if the accounting policy states that the amount of interest on a bill of exchange is reflected in accounting at the time of payment, then on the date of sale of the goods, the organization recognizes revenue only in part of the cost of the goods specified in the contract. AT tax In the same accounting, income on an interest-bearing bill is reflected monthly on the last day of the month (clause 6, article 271, paragraph 2, clause 4, article 328 of the Tax Code of the Russian Federation).

Recall that we are considering a situation in which the taxpayer applies the accrual method.

Consequently, in each reporting period from the moment of receipt of an interest-bearing bill and until the moment of its payment, taxable income will exceed the income in accounting. The difference between these two amounts is a deductible temporary difference (VVR), which is repaid at the time of payment of the bill, and the corresponding deferred tax assets (ITA) (clauses 9 - 11 of PBU 18/02).

Let's look at an example.

Organization “A” sold goods to organization “B” in the amount of 590,000 rubles. (including VAT - 90,000 rubles). The cost of production amounted to 300,000 rubles. Organization "B" issued and transferred to organization "A" its own simple interest-bearing bill in the amount of 590,000 rubles as payment for the goods. with an interest rate of 16%, maturity - at sight.

The accounting policy on accounting stipulates that the holder of a bill of exchange recognizes income on an interest-bearing bill at the time of redemption of the bill.

The income tax accounting policy provides that the reporting periods are a month, two months, three months, etc., until the end of the calendar year.

To calculate the amount of income on a bill at the end of the reporting period in tax accounting, it is necessary to multiply the face value of the bill by interest rate, then determine the amount of income attributable to one day (for this, the amount of income is divided by 365 days). The result is multiplied by the period during which this income is considered received in tax accounting.

Accordingly, interest income will be calculated as follows:

For April - 2,586 rubles. (590,000 rubles × 16% / 365 days × 10 days);

For May - 8,018 rubles. (590,000 rubles × 16% / 365 days × 31 days);

For June - 7,759 rubles. (590,000 rubles × 16% / 365 days × 30 days);

For July - 6,724 rubles. (590,000 rubles × 16% / 365 days × 26 days).

Non-operating income will be reflected in the income tax return for 2013:

For a period of 4 months (from January to April) - 2,586 rubles;

For a period of 5 months (from January to May) - 10,604 rubles. (2586 + 8018);

For a period of 6 months (from January to June) - 18,363 rubles. (10 604 + 7 759);

For a period of 7 months (from January to July) - 25,087 rubles. (18 363 + 6 724).

In the accounting of the organization "A" the following entries will be made:

Contents of operation	Debit	Credit	Amount, rub.
20.04.2013
Reflected revenue from the sale of goods	62-p	90-1	590 000
Accrued VAT payable to the budget from the amount of sale of goods	90-3	68-vat	90 000
Written off cost of goods sold	90-2	41	300 000
A promissory note was accepted for accounting in the part equal to the value of the asset sold	62-in	62-p	590 000
30.04.2013
Reflected SHE (2,586 rubles × 20%)	09	68-pr	517,2
31.05.2013
Reflected SHE (8,018 rubles × 20%)	09	68-pr	1 603,4
30.06.2013
Reflected SHE (7,759 rubles × 20%)	09	68-pr	1 551,8
26.07.2013
The drawer paid the full amount of the bill (590,000 + 2,586 + 8,018 + 7,759 + 6,724) rub.	51	62-in	615 087
Reflected interest income	62-in	91-1	25 087
Redeemed SHE ((25,087 rubles - 6,724 rubles) × 20%)	68-pr	09	3 672,4
VAT charged on interest on a bill ((25,087 rubles - 590,000 rubles × 8.25% × 97 days / 365 days) × 18/118)	91-1	68-vat	1 853,6

Note: if the accounting policy of the organization stipulates that the income on an interest-bearing bill, the bill holder recognizes monthly(and not at the time of repayment of the bill, as in example 3), then there are no temporary differences in accounting. Accordingly, the situation starting from the reporting date 04/30/2013 will look like in example 4.

Let's use the conditions of example 3.

The following entries will be made in the accounting of the organization:

Contents of operation	Debit	Credit	Amount, rub.
30.04.2013
Reflected the amount of interest on the bill for April	62-in	91-1	2 586
31.05.2013
Reflected the amount of interest on the bill for May	62-in	91-1	8 018
30.06.2013
Reflected the amount of interest on the bill for June	62-in	91-1	7 759
26.07.2013
Reflected the amount of interest on the bill for July	62-in	91-1	6 724
The drawer paid the full amount of the bill	51	62-in	615 087
VAT charged on interest on a bill	91-1	68-vat	1 853,6

Development financial market continues in Russia despite economic crisis. In such circumstances, certain types of securities are beginning to become increasingly popular. First of all - a bill and a check.

What are the similarities

Both the promissory note and the check are classified as securities. This means that there are both similarities and differences in their characteristics. Consider first of all the common features of these objects:

They have value. Both options are intended to ensure that a certain amount of money is paid to the bearer in the future.
The presence of a stable regulated form. Both documents are in writing on standard forms.
The parties involved in the circulation of these documents have common goals. That is, one person is a debtor, the other is a creditor.
For both types, a guarantee of future payments (aval) can be provided. But its presence is not mandatory.
If the paper has a new holder, then information about it must be recorded on the back of the document (endorsement).
Provided that the check and the bill are unpaid, a record of this is affixed by a notary on the paper itself (at the check) or a special act is drawn up (at the bill).

A bill of exchange with a check has a similar value to its holder

Are there significant differences

Now let's take a closer look at how a check differs from a bill of exchange:

A check is considered a means of payment - an analogue of money. It is issued to pay for the purchase of goods. A bill of exchange can be regarded as an IOU. That is, their main essence, after all, is different.
There is also a difference in the speed of cashing out. If the check must be cashed immediately upon presentation, then the bill has three options for the time frame. And most often, the calculation is somewhat pushed back in time from the moment it is issued.
Each has its own peculiarity in the type of debtor. So, cashing a check is an obligation of the bank. A bill of exchange is issued to a legal or natural person who acts as a lender to the drawer.
The bill must be subject to acceptance by the payer. There are no such requirements for checks.
Walking time, as a rule, is also different. A check is usually cashed in a bank after a very short period of time, and a bill of exchange can be in circulation for a long time. At the same time, bill holders will change periodically.
There are also differences in terms of execution of responsibility. Thus, banks must cash a check to the bearer within six years of its issuance. With a bill, everything is more complicated. If you do not submit it within the specified period, then the drawer has the right not to return the money on it. Avalized bills are considered an exception, when the person who issued the guarantee is obliged to pay even an overdue bill.
Possibility of crossover. This feature is inherent only in a check; it is absent in a bill of exchange. The term means that money can only be transferred to the bearer to a bank account, but not paid out in cash.
The procedure for liability in case of a false signature. If the bank can provide evidence that the signature on the check is fake, then it will not have to pay money on it. The drawer is obliged to settle in any case.

There are significant differences between a check and a promissory note.

If we summarize all of the above from the point of view of the system of legal regulation, then a bill of exchange is more imperfect than a check. A number of specialists believe that promissory notes will soon be forced out.

How bills and checks are collected

Any holder of a bill may find himself in a situation where he will not be able to apply to the drawer with a request to make a settlement within the prescribed period. For example, if at this point the citizen simply finds himself in locality away from the location of the debtor. And here such a form of payment as collection is called upon to help.

The scheme of bills for collection is as follows: the holder of the bill gives payment order the bank, which has a representative office in the area where the holder is located, to present the paper in order to receive payment.

Bills of exchange that are submitted for collection must contain a pre-certificate entry in the name of the bank (for example, "currency for collection"). It is the responsibility of the bank that accepts such a bill to present it to the debtor in a timely manner. No more liability to the billholder for such financial institutions no. This is the difference between collection and letter of credit.

This form of payment is regulated not only by modern Russian legislation. In fact, it follows from the rules of Private International Law (PIL).

If the bank needs to send bills of exchange and checks abroad, then it does this by registered air mail. All such shipments must be pre-insured. When paying for imported goods, both promissory notes and bills of exchange can be used.

If the payment was made on time, then they must be removed from the bank account and returned to the payer. If no payments were made, then a special act should be drawn up in fact and the case should be appealed to the court.

Cash collection allows you to settle bills at a distance

Legal regulation of the market

The securities market is one of the main components of the financial market of any state. It includes a wide range of civil and other legal relations that arise between the participants in the process regarding the turnover.

AT financial system different types of securities are in circulation. Examples: stock, bond, bill of lading, certificate of deposit, etc. Checks and bills of exchange are also treated as securities. The usual banknote is also directly related to them. Various economic structures represent different markets. For example, the European-continental model or the Anglo-Saxon.

In Russia, to carry out work on legal regulation market, an extensive list of regulatory legal acts has been developed. First of all, it should be noted the Federal Law No. 39 “On the securities market”. This should also include the Federal Law No. 46 "On the Protection of the Rights of Investors". Local regulations also play a significant role in this matter.

Summing up, it should be noted that, with some similarity, the differences between a bill and a check are quite significant. It is they who influence their distribution.

The rules for drawing up a bill will be discussed in the video:

Attention! Due to recent changes in legislation, the legal information in this article may be out of date!

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1. Promissory note - a document drawn up in the form prescribed by law and containing an unconditional abstract monetary obligation; security; type of credit money. Distinguish between a promissory note and a bill of exchange. A promissory note is an unconditional obligation of the drawer to pay a certain amount of money to the holder at maturity. A bill of exchange (draft) contains a written order of the drawer (drawer) addressed to the payer (drawee) on the payment of the amount of money specified in the bill to a third party - the holder of the bill (payer). The drawee becomes a debtor under the bill only after he accepts the bill, that is, he agrees to pay it by putting his signature on it (accepted bill).

The acceptor of a bill of exchange, as well as the drawer of a promissory note, is the main debtor of the bill, he is responsible for paying the bill on time.

The form of a bill, the procedure for its issuance, payment, circulation, the rights and obligations of the parties and all other bill relations are regulated by the norms of bill legislation.

A bill of exchange is a strictly formal document: the absence of any of the mandatory details provided for by the bill of exchange law deprives it of the force of the bill.

A bill of exchange is an unconditional monetary obligation, since the order of the drawer of a bill of exchange and the obligation of the drawer of a promissory note cannot be limited by any conditions.

The promissory note is of an abstract nature: no references to the basis for its issuance are allowed in the text of the promissory note.

Therefore, a bona fide holder of a bill, as a rule, cannot be opposed by objections arising from the contract (transaction) that underlies the issuance or assignment of a bill.

The subject of a bill of exchange obligation can only be money.

In the process of circulation, a bill of exchange is transferred from one holder to another by means of an endorsement - an endorsement (nominal or blank). Each endorser, like the drawer, is responsible for the acceptance and payment of the bill. Bill obligations of the payer, drawer and endorsers can be additionally guaranteed in full or in part of the bill amount by means of aval - bill guarantee. The bill as a security for its payment must be presented at the place of payment to the payer or to a third party who is instructed to pay the bill - the domicile. Proper payment of the bill within the established period repays all bill obligations. In case of refusal to pay, the holder of a bill of exchange may file a direct claim in court against the acceptor (the drawer of a promissory note). In addition, if the bill of exchange is not accepted or paid, he has the right to demand payment of the bill in the order of recourse (reverse demand) from other responsible persons (the drawer, endorsers, avalists), who are jointly and severally obliged to the holder of the bill. A regressive claim may be brought against all these persons together and against each separately, however, only if the refusal to accept or pay was certified by an act of protest or in another way provided for by bill legislation.

The holder of a bill of exchange has the right to claim the amount of the bill, interest and penalties for late payment, as well as the costs incurred.

Bill of exchange legislation provides for special periods of limitation.

A bill is an instrument of credit, this is its main economic function. By means of a bill, you can issue various credit obligations: pay for the purchased goods or services provided on the terms of a commercial loan, return the loan received, provide a loan, etc.

Bills based on these real transactions are distinguished from the so-called "friendly" or "bronze" bills, which do not have commodity coverage and are mutually exposed to each other in order to obtain bank loans on them. Bills based on commercial transactions are called commercial.

Such bills, if they meet certain requirements (they are short-term, with two or more signatures), can be accepted by banks for accounting or as collateral as security for loans provided to customers.

Commercial banks can rediscount short-term bills with central banks.

Aval - a bill of exchange order, by virtue of which the person (avalist) who made it assumes responsibility for the fulfillment of obligations by any of the parties liable under the bill - the acceptor, drawer, endorser; is issued either by the guarantee inscription of the avalist on the bill of exchange or an additional sheet (allonge), or by issuing a separate document. The scope and nature of the responsibility of the avalist corresponds to the scope and nature of the responsibility of the person for whom the aval is given. The avalist who has paid the bill has the right to demand reimbursement of the payment from the person for whom he gave the aval, as well as from the persons responsible to the latter. Aval increases the reliability of the bill and thereby contributes to the circulation of bills.

Allonge - an additional sheet of paper attached to a bill of exchange, on which transfer inscriptions are made if they do not fit on the back of the bill. Aval can also be made on the allonge.

Accepted bill - a bill that has an acceptance (consent) of the payer (drawee) for its payment. The acceptance is made out by an inscription on the bill ("accepted", "accepted", "I undertake to pay", etc.) and the signature of the drawee.

One signature of the payer on the front side of the bill also has the force of acceptance.

By means of acceptance, the person indicated on the bill as the payer (drawee) becomes the acceptor - the main debtor of the bill. Accepted bills based on a commercial transaction are accepted commercial banks for accounting (purchased), as well as for providing loans and can be re-discounted in central banks.

Bronze promissory note - a promissory note that has no real security, issued to a fictitious person.

Friendly bill - a bill issued by one person to another without the intention of the drawer to make payment on them, but only for the purpose of finding Money by mutual accounting of these bills in the bank. Friendly bills are issued by people who unconditionally trust each other.

Blank endorsement - an endorsement to the bearer, may consist of only one signature of the endorser. A person holding a document under a blank endorsement has the right to complete the blank on his own behalf or on behalf of another person, endorse the document by full or blank endorsement, transfer to a new holder by simple delivery.

The holder of a bill is the owner of a bill of exchange who has the right to receive the amount of money specified in it. The holder of the bill, indicated as the recipient in the bill itself, is called the first bill holder (payee).

When transferring a bill, the legal holder of a bill is a person who bases his right on a continuous series of endorsements.

The holder of the bill has the right to the bill itself; he is obliged to give it to the one who has lost possession of the bill, only if he acquired the bill in bad faith or, while acquiring, committed gross negligence. The holder of a bill of exchange has the right to receive payment under the bill from the acceptor (drawer of a promissory note), as well as by way of recourse from all other responsible persons (endorsers, avalists). The holder of a bill also has a number of other rights (making a protest, filing lawsuits, etc.) provided for by bill legislation.

A bill of exchange is one of the details of a bill of exchange: the name "bill" included in the text, written in the language in which the document is drawn up.

Grace days - grace days provided for by the bill of exchange legislation of a number of countries, by which the payment period indicated on the bill is extended. Thus, English law establishes 3 grace days, i.e. the bill can be capitalized only three days after the expiration of its term. In countries that have acceded to the Geneva Convention of 1930, grace days do not apply.

Bills discount - in banking practice, the discount rate charged by banks when discounting bills of exchange is the difference, expressed as a percentage, between the amount of the bill and the amount paid by the bank when buying a bill before the maturity date.

Discount charged Central Bank With credit institutions when rediscounting commercial bills, is the official discount rate.

Domiciled bill - a bill that has a clause that it is payable by a third party (domicile) at the payer's place of residence or elsewhere.

Such a clause is affixed to the bill by the drawer. If the domicile is not indicated in it, he may be named as the payer upon acceptance.

The domiciliary bill of exchange is presented for payment to the domicile, who is not the person responsible for the bill, but only pays the bill in a timely manner at the expense of the payer, who has provided the necessary funds at his disposal.

Endorsement - an endorsement on a security, bill of exchange, check, bill of lading, etc., certifying the transfer of rights under this document to another person. It is usually put down on the reverse side of the document or on an additional sheet. The person making the endorsement is called the endorser.

An endorsement may contain an indication of the person in whose favor the document is transferred (full or nominal endorsement), be bearer or consist of only the signature of the endorser (blank endorsement). A person holding a document under a blank endorsement has the right to complete the blank on his own behalf or on behalf of another person, endorse the document by full or blank endorsement, transfer to a new holder by simple delivery. In addition to the transfer function, an endorsement on a bill and a check also performs a guarantee function: each endorser on a bill is responsible for acceptance and payment, the endorser on a check is responsible for payment. The endorser is jointly and severally liable together with the drawer (drawer), avalist and payer (although he can relieve himself of this responsibility by means of an endorsement with the clause "without turnover").

The endorsement on a bill must be simple and unconditional; partial endorsement is not valid.

On the bill it is allowed to put down the so-called mandate endorsement with the clause "currency for collection" or "as entrusted". In this case, the endorser remains the owner of the document, and the holder acts as his attorney and can perform any actions necessary to receive payment. It is also allowed to affix an endorsement on a bill with the clause "currency as a pledge", that is, the bill is transferred to the holder not in ownership, but as a pledge.

Collection - Bank operation, through which the bank, on behalf of its client, receives on the basis of settlement documents of enterprises, associations, organizations, institutions for goods shipped to them - material values and rendered services and credits these funds to his bank account.

Security note.

When the debt already exists long time, and the borrower is optional and unreliable, a security bill may be required from him. In this case, the bill is used as collateral for the loan. The promissory note is kept in the deposited account of the borrower and is not intended for further turnover. If the payment is made on time, the bill is redeemed. If the payment of the loan is delayed, then the debtor is presented with claims.

Obligo (from the Latin obligo - to bind).

1) Debt on promissory notes.

2) Books, magazines, etc., in which banks reflect the debt to the bank on the part of persons liable for accounting bills.

On-call loans (from the English on call - on demand) are bank loans that can be claimed at any time (demand loans), and therefore, depending on the degree of liquidity, they are first-class assets. Such loans in world banking practice are secured by promissory notes, goods and securities.

Recourse - a reverse claim for reimbursement of the amount paid, is presented by one individual or legal entity to another obligated person. Recourse is applied when protesting a bill or check.

An endorser who has paid a protested bill of exchange (check) has the right to reclaim against the previous endorsers and the drawer (drawer of a bill), who bear joint and several

a responsibility.

Rekta - a bill, or a nominal bill.

Russian legislation mainly reflects the content of the Uniform Law on Checks, which is Annex No. 1 to the Geneva Convention of 1993. The rules of the Civil Code of the Russian Federation adopted the main provisions of the Uniform Law with some peculiarities. In turn, the norms of the Civil Code of the Russian Federation should be specified in special laws and other acts on checks and banking rules issued in accordance with them.

The essence of settlements by checks is that a check is not only a settlement document, but also a security that contains an unconditional order of the drawer of the check to the bank to pay the amount indicated in it to the holder of the check (Article 877 of the Civil Code of the Russian Federation). The parties (subjects) of a check legal relationship are the drawer, the payer of the check and the holder of the check. The payer in a check obligation can only be a bank where the drawer has funds that he can dispose of by issuing checks. As a rule, a check is used to pay for the underlying obligation that has been established between the drawer and the holder of the check, but the issuance of a check does not, in itself, extinguish the monetary obligation for which it was issued. It is considered executed only at the moment of receipt by the holder of the check of payment on the check.

Acting as security, the check must contain the mandatory details provided by law (Article 878 of the Civil Code of the Russian Federation), the absence of most of which deprives it of the legal force of the check. These details include: the name "check" included in the text of the document; order to the payer (bank) to pay a certain sum of money; the name of the payer and indication of the account from which the payment is to be made; indication of the payment currency; indication of the date and place of leaving the check; signature of the drawer.

If the check does not contain information about the place of its compilation, this does not entail the invalidity of the check (unlike the absence of any of the other details) - such a check is considered as signed at the location of the drawer. The law also establishes the form of the check and the procedure for filling it out. In particular, according to Art. 880 of the Civil Code of the Russian Federation, a check can be nominal and transferable. The type of check determines the method of transfer of rights on it. The transfer of rights by check is carried out according to the rules of Art. 146 of the Civil Code of the Russian Federation, taking into account the exceptions established by Art. 880 of the Civil Code of the Russian Federation. These exemptions are as follows: a nominal check is non-transferable, which means that the transfer of rights on it in the order of assignment is inadmissible; an endorsement to the payer in a transferable check has the effect of a receipt for payment; an endorsement made by the payer is invalid. A person who holds a transferable check received by endorsement is its legal owner if he bases his right on a continuous series of endorsements. The endorsement is made on the check itself (its back) or on the attached sheet (allonge). All rights deriving from the check shall be transferred to the endorsement. If the endorsement is in blank, the holder of the check (endorser) may: fill in the blank with his own name or the name of another person (turn a blank endorsement into a warrant endorsement); transfer the check by another blank endorsement or in the name of another person; send a check by simple delivery. Than it can also be transferred by mandate of endorsement (clause 3 of article 146 of the Civil Code of the Russian Federation).

According to Art. 881 of the Civil Code of the Russian Federation, the law establishes the institution of aval, or a check guarantee. The guarantee of payment by means of aval can be full or partial. Any person, except for the payer, can act as an availist for a check. The guarantor is responsible for the payment of the check in the same way as the one for whom he gave the aval. His undertaking is valid even if the undertaking which he has guaranteed is invalid for any reason other than failure to comply with the form. The guarantor who paid the check shall transfer the rights arising from the check against the one for whom he gave the guarantee, as well as against those persons who are indebted to the latter. Aval is affixed on the front side of the check or on an additional sheet. It is denoted by the words "count as aval" and contains an indication by whom and for whom it was given. If there are no such indications, then it is considered that it was given for the drawer as the main debtor. Aval is signed by the avalist indicating his place of residence (for individual) or location (for legal entity) and the date of the aval.

A check is presented for payment by presenting it directly to the payer bank, as well as presenting the check to the bank serving the issuer of the check for collection to receive payment. And this, according to paragraph 1 of Art. 882 of the Civil Code of the Russian Federation, is considered to be a presentation of a check for payment. Payment of the collected check occurs in the order of execution of the collection order (Article 885 of the Civil Code of the Russian Federation). The payer of the check is obliged to verify by all means available to him the authenticity of the check, as well as that its bearer is a person authorized by it. When paying an endorsed check, he must check the correctness of the successive series of endorsements, but not the signatures of the endorsers. After paying the check, the payer may, for example, demand that the check be handed over to him with a receipt for payment. In the case of payment of a forged, stolen or lost check, the question may arise about the distribution of the losses incurred between the drawer and the bank. According to paragraph 4 of Art. 879 of the Civil Code of the Russian Federation, losses are assigned to the payer or drawer, depending on whose fault they were caused.

If the bank refuses to pay the check, the confirmation of this fact can be carried out in several ways, provided for in Art. 883 of the Civil Code of the Russian Federation: by a notary making a protest or drawing up an equivalent act in the manner prescribed by law; the payer's mark on the check refusing to pay it and indicating the date of submission of the check for payment; a mark of the collecting bank indicating the date that the check was issued in a timely manner, but not paid.

A protest is an official act, which is performed by a notary, certifying the fact of non-payment of a check. A protest or an equivalent act must be made before the expiration of the time limit for presenting a check for payment. If the check has already been presented for payment on the last day of the term, a protest or an equivalent act may be made on the next business day. In case of non-payment of the check, the notary certifies this fact with an inscription on the check and a note about this in the register. Simultaneously with the inscription on the check, a notice of non-payment is sent to the check drawer.

A holder of a check who has not received payment must notify his endorser and drawer of the non-payment within two working days following the date of the protest or an equivalent act. Each endorser must then, within two business days following the day on which he receives the notice, inform his endorser of the notice he has received. At the same time, notices are sent by the availist of these persons. A person who has not fulfilled the obligation to send a notice within the specified period does not lose his rights. His liability is limited to the obligation to reimburse, within the amount of the cheque, the losses that may occur as a result of failure to notify of the non-payment of the cheque.

The holder of a check, endorsers, avalists and other persons liable under the check are jointly and severally liable to the holder of the check for the payer's refusal to pay the check (Article 885 of the Civil Code of the Russian Federation). At the same time, the holder of a check has the right, at his choice, to bring a claim against one, several or all persons liable under the check. He may also demand that persons liable under the check pay the amount of the check, reimburse their costs for receiving payment, as well as pay interest for non-fulfillment of a monetary obligation in accordance with paragraph 1 of Art. 395 of the Civil Code of the Russian Federation. The same right belongs to the person liable for the check after it has paid the check (clause 2, article 885 of the Civil Code of the Russian Federation).

In accordance with paragraph 3 of Art. 885 of the Civil Code of the Russian Federation for claims arising from non-payment of a check, a reduced limitation period is established: a claim by the check holder against persons liable under the check may be brought within six months from the date of expiration of the deadline for presenting the check for payment. Recourse claims of obliged persons against each other shall be extinguished with the expiration of six months from the day when the corresponding obliged person satisfied the claim, or from the date of filing a claim against him.

In the light of the foregoing, checks with the heading "Russia" are of great importance, the circulation of which has its own characteristics. First, the scope of their use is limited to homogeneous calculations. Secondly, payments by these checks are made only by the settlement and cash centers of the Bank of Russia after the transfer of funds to them by the paying banks. Thirdly, the endorsement of such checks and their settlements between citizens are prohibited.

Sometimes in the area under consideration, other forms of calculations are used, in addition to the above. Thus, payment orders are used for transfers through communication enterprises. By virtue of the Federal Law of August 9, 1995 "On Postal Communication", legal entities can make such transfers without limiting the amount to the accounts of individual citizens (wages, royalties, etc.), as well as when transferring cash trade proceeds, taxes and for payment wages where there are no banks. Citizens can make payments through communication enterprises without restrictions.

Today, new for the Russian banking turnover is the use of electronic forms of payment and, in particular, banking plastic cards. Their application is based on the Regulations on the Procedure for Issuing Bank Cards by Credit Institutions and Making Settlements for Operations Made with Their Use.

The convenience of this form of payment lies in the fact that a client who has a bank account does not have to transfer settlement documents to the bank to make a payment. They are replaced by a plastic card with a magnetic carrier, which contains information about the client and his account. In addition, obtaining a card that has a worldwide reputation or regional recognition on the basis of interbank agreements allows its holder to make payments in different countries regardless of the currency of the card account. A plastic card also allows you to receive cash at ATMs and cash points serving this system of bank cards.

Before issuance plastic card an agreement is concluded between the client and the bank on the use of this means of payment. Bank cards there are: settlement (debit), for which funds are transferred within the spending limit (card balance); credit, for which the bank provides credit to the client's account in case of insufficient funds on it within the provided credit limit; personal, funds for which belong to citizens; and corporate, for which payments are made on behalf of the legal entity that transferred the money. To carry out settlements, it is only necessary that the organization (shop, hotel, carrier, etc.), the payment of which the account holder intends to make, be included in the system for using the appropriate settlement funds. The amount to be debited almost immediately enters the settlement center through the electronic terminal and is transferred from the cardholder's account to the recipient's account. The transaction is also recorded by a paper document in the required number of copies. Such a document is usually signed by the client and the organization (executor) as proof of the settlement transaction and receipt of the goods (services). The client (cardholder) is responsible for the correctness of the payment and the availability of cash coverage on the card account.

A bill is a means of payment and credit in relations between various organizations and citizens. With the help of a bill of exchange, the mutual debt of the participants in civil circulation and its repayment take place. Bills of exchange are actively used in banking transactions, as well as in foreign trade relations, being the subject of discounting, letters of credit and collection operations.

At present, the main source of bill legislation in Russian Federation is the Federal Law of March 14, 1997 "On Transferable and Promissory Notes" (Promissory Note Law). In accordance with it, the resolution of the Central Executive Committee and the Council of People's Commissars of the USSR of August 7, 1937 “On the Enactment of the Regulation on a Transferable and Promissory Note” (hereinafter referred to as the Regulation) is applied on the territory of Russia, which textually reproduces the Uniform Law on a Transferable and Promissory Note (Appendix No. 1 to the Geneva Convention of 1930).

The concept of "bill" is used in three meanings: a security, a unilateral transaction (issuance of a bill) and an obligation arising from the transaction.

A bill as a security can be simple and transferable. In the legal relationship generated by a promissory note, usually two persons take part: the drawer (debtor, payer) and the holder of the bill (creditor). The circulation of promissory notes is built on the basis of the rules on bills of exchange, with the exceptions that follow from their nature. In a bill of exchange, the figure of the drawer is separated from the figure of the payer, and therefore the obligations arising from the bill of exchange bind at least three persons - the drawer, payer and holder of the bill. In any bill, there is the main debtor - the drawer, who cannot in any way limit his liability for payment, as well as other debtors - the drawee (payer) in the bill of exchange after its acceptance, endorsements and avalists. The responsibility of all these persons is joint and several.

The bill and the obligation generated by the issuance of the bill are characterized by the properties of strict formality and abstractness. The formality of the bill is that the document, in which there are no elements of the bill, loses the force of the bill. The abstractness of a bill is usually understood as a bill of exchange obligation, which is not connected with the basis of its occurrence (any transaction) and is not conditioned by anything. The holder of a bill cannot be opposed by objections that arise from other relations existing between the drawer, payer and endorsers (previous holders). An exception is the case when the holder of a bill, while acquiring a bill, deliberately acted to the detriment of the debtor. The bad faith of the holder of a bill occurs when he deliberately acquired a bill of exchange for the purpose of unlawful enrichment at the expense of the debtor (for example, he received a bill that was not filled at the time of its issuance, or acquired it as a result of collusion with a previous endorser, against whose rights the bill debtor has strong objections) .

A bill of exchange can be nominal and order. Bearer bills in states that have acceded to the Geneva Convention are not allowed. Any bill, even issued without a direct clause on the appointment of another authorized person, is assumed to be an order and transferred by means of endorsement. In this sense, a promissory note is not reducible to an ordinary promissory note, which cannot be transferred by order and usually does not entail the joint and several liability of its signatories. Such a bill can only be transferred in the form and with the consequences of a general civil assignment (Chapter 24 of the Civil Code of the Russian Federation).

A promissory note is a security containing an unconditional obligation of the drawer to pay the amount of money specified in the bill within a certain period of time to the holder or his order. Accordingly, a bill of exchange (draft) is a security containing an unconditional offer by the drawer (drawer) to the payer (drawee) to pay within a certain period of time to the bill holder (payer) or his order the amount of money specified in the bill.

Each bill must contain a set of details that give it bill of exchange force. The details of the bill are closely related to its form. Failure to comply with the details of the bill means the nullity of its form: a written document that lacks any of the mandatory designations cannot be considered a bill, and therefore does not embody a bill of exchange obligation. The requisites of a bill of exchange usually include the following: the name "bill" included in the text of the document and expressed in the language in which this document is drawn up; a simple and unconditional offer to pay a certain amount of money (bill of exchange); name of the payer (drawee); indication of the payment term; an indication of the place where the payment is to be made; the name of the person to whom or to the order of whom the payment is to be made (recipient); indication of the date and place of the bill; drawer's signature (drawer).

Only in three cases is it allowed to deviate from the strictness of the bill of exchange form: if there is no maturity date in the bill, it is considered payable upon presentation; in the absence of a special indication, the place indicated next to the name of the payer shall be considered the place of payment; a promissory note that does not indicate the place of its drawing up is recognized as signed in the place indicated next to the name of the drawer.

Making a payment is the main obligation of the payer who accepted the bill (drawer in a promissory note). It is made depending on the term of payment specified in the bill. Since the holder cannot be compelled to accept payment before the due date, the drawee who pays the bill prematurely makes such payment at his own risk. Timely payment of a bill of exchange releases the payer or other person liable under the bill of exchange from the bill of exchange obligation, except in cases of fraud or gross negligence in the actions of such a person. The payer is obliged to verify the correctness of the successive series of transfer signatures, but not the signatures of the endorsers. With proper payment, the payer may demand the transfer of a bill of exchange to him with a receipt for payment.

Unlike the general rules of art. 311 of the Civil Code of the Russian Federation, the holder of a bill cannot refuse to accept a partial payment. In this case, the bill of exchange remains in the hands of the drawer, but the payer may demand that a note be made on the bill of payment and that a receipt be issued to him. If the holder of the bill has not presented the bill for payment within the established period, each person liable under the bill (drawer, drawee, endorsers, avalists) has the right to deposit the amount of the bill on the deposit of the court at the expense and risk of the bill holder.

In view of the fact that a bill of exchange can be issued in a currency that is not in circulation at the place of payment, the law provides for the possibility of paying it in local currency at the foreign exchange rate on the day the payment is due. In addition, the drawer may establish in the bill the so-called "effective payment clause", the meaning of which is to impose on the drawee the obligation to pay the bill in the chosen currency. In this case, of course, the rules of national currency legislation should be taken into account.

The liability of all persons liable under the bill of exchange to the holder of the bill is joint and several. The creditor of a bill may bring an action against all obligated persons or against each separately, without observing the sequence in which they undertook. The person who paid the bill acquires the right to claim against the remaining debtors of the bill, replacing the holder of the bill. The scope of the requirements of the holder of the bill includes: the amount of the bill with interest, if any; 6% calculated from the date of the due date; reasonable costs of the promissory note (expenses for the protest, sending notices); penalty in the amount of 3% from the date of the due date. However, this provision was partially amended by the Bill of Exchange Act. In Art. 3 of this Law states that interest and penalties provided for by the Regulations are paid in the amount of the discount rate established by the Bank of Russia, in accordance with the rules provided for in Art. 395 of the Civil Code of the Russian Federation. The rights of the person who paid the bill in relation to the persons responsible to him are somewhat narrower than the rights of the holder of the bill, and do not include a penalty.

The expiration of the terms stipulated by the bill for its presentation, as well as the expiration of the period for making a protest in non-acceptance or non-payment, entails for the receiver the loss of his rights against endorsers, the drawer and other obligated persons, except for the payer-acceptor. The responsibility of the latter is more stringent precisely because of his earlier consent to pay the bill. As a result, the limitation period for the claim of the bill holder against the payer who accepted the bill is the longest and is 3 years from the date of payment. The claims of the holder of a bill against endorsers and against the drawer shall be extinguished by the expiration of one year from the day of the protest or from the date of the due date. The limitation period for the claims of endorsers to each other and to the drawer is 6 months from the day when the endorser paid the bill, or from the date of filing a claim against it.

After the entry into force of the Civil Code of the Russian Federation and the invalidation of the Regulations on checks, approved by the Decree of the Supreme Council of the Russian Federation of February 13, 1992 No. 2349-1 (Vedomosti RF. 1992. No. 24. Art. 1283), only some of the previous rules on checks marked "Russia" (for example, letter of the Bank of Russia dated June 29, 1992 No. 18-11/726, etc.).
SZ RF. 1997. No. 11. Since the entry into force of this Law, the decision of the Presidium of the Supreme Soviet of the RSFSR dated June 24, 1991 “On the use of a bill in economic circulation” has been declared invalid.
SZ USSR. 1937. No. 52. Art. 221.

A bill of exchange is an encumbrance in writing, drawn up according to strict rules. This document is drawn up between persons, one of which undertakes to pay the specified amount to the other person.

A simple bill of exchange, also called a solo, refers to things on which debts are paid without any conditions. Such papers do not have mandatory details, and if the date of payment is not set in them, then it is paid at the time of presentation. In the absence of the specified place of payment, the address of the debtor is implied, otherwise, the address of the creditor (bill holder).

The basis of the solo was commodity relations, when the buyer (drawer) at the time of the transaction did not have cash and wrote out a receipt of obligation. On its basis, the borrower undertook to make the payment of the required amount after a certain period of time.

At the specified time, the creditor presented a simple promissory note obligation to the debtor, who "swept" it and received it back. In fact, a solo is an IOU that is not defined by anything, except for the timing of the return of the debt and its size. It was issued personally by the payer in the name of the holder of the bill, and apart from the conditions stipulated in it, was not supported by anything else.

A bill of draft (transferable) is associated with the "transfer" of one debt for another. The draft law was originally created in order to make trade relations easier. With the help of a transferable bill of exchange, it was convenient for the buyer to pay for the goods, and his banker could pay for it. The draft was also relevant in cases where one debt was extinguished by another. Most often in such situations, the drawer was the borrower of one person and the lender of another.

The creditor of such a bill of exchange is called the drawee, and the debtor for payments is called the drawee. The person recorded in this security as the recipient is called the remitter. In this status, the creditor himself or another authorized person acts. Such papers are drawn up according to strict forms and are based on legislative standards.

What is the difference between bills

There is a significant difference between simple and transferable credit documents. In the first case, debt obligations affect two parties: the drawer and the holder of the bill. In the second, a third party is involved.

A simple ticket implies that the payment on it is made directly by the debtor. In a situation with a transfer option, the data of the payer and the object that undertakes to repay it are indicated. The payer of such paper is obliged to accept it, that is, to sign and mark "ready to pay", "accepted".

In a solo, the debtor and payer are the same person, while in a draft a third person, usually the creditor, becomes the principal debtor. The difference between credit cards is that in solo, the obligation to repay the debt is assumed directly by the debtor, and in the second case, he only gives instructions to the person to whom he shifts this responsibility.

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Design rules

A promissory note contains the following information:

Name "bill"
A special note that the offer to pay certain amounts is not supported by anything;
Data on the moment and place of the payment;
Full details of the name of the creditor;
Date and place of issue of the security;
debtor's signature.

A sample of filling out a bill According to the same rules, a transfer ticket is drawn up, with the only difference that special marks are made on its reverse side - endorsements. The inscription necessarily includes the word "Pay ...". The data of the person to whom the debt obligations are transferred is added to it. After that, the document is transferred to a new payer, who accepts payments and puts his signature under the endorsement.

There are many similarities between a check and a bill, but there are also significant differences. A promissory note is a paper obligation that formalizes the receipt of a loan by a person or organization. The loan can be made in kind or in cash. In fact, he is not provided with anything.

The check is the instrument of payment. It is ensured by the presence on the account of funds that are transferred in a non-cash form, but can be received at any time.

A significant difference between these options is the principle of the emergence of obligations. For participants in check circulation, the contract is the basis, and for bill of exchange paper, acceptance (consent) of the payer is required.

It's important to know: In a number of countries, the issuance of an unsecured check is criminalized.

Another difference between the check is the indication of the specific account from which the operation must be performed. There are no such restrictions on the bill, the name of the bank is enough.

conclusions

1. The issue of a transferable credit note involves: the holder, the payer and the recipient. A simple one is issued by the payer himself.
2. A bill of exchange, unlike a simple one, requires acceptance.
3. A promissory note is drawn up in the first person, transferable in the third person.

See also a video explaining the types of promissory notes and promissory note fraud: