Transfer inscriptions usually have an appearance: "Pay the order..." or "Instead of me pay...". The transfer inscription has to be with own hand signed by the endorsee, its other elements can be reproduced in the mechanical way. The crossed-out endorsements are considered as the unwritten.
The drawer, having put the signature on the bill, takes the responsibility for reception of the bill for payment and for its payment. However he can decline all responsibility for the acceptance, having made a mark "Without obligations" or "Without guarantee". The debtor it cannot relieve responsibility of payment in case of a bill non-payment from itself(himself).
The bill holder has to inform the endorsee and the drawer on the non-acceptance or on non-payment within four working days following behind day of a protest or, in case of the reservation "a turn without costs", behind day of presentation. Each endorsee has to within two working days which follow behind day of obtaining the notice by it, to tell to the endorsee the notice received by him, with the indication of names and addresses of those who sent the previous notices and so on, ascending to the drawer.
Presentation of the bill to the acceptance can be made at any time, since day of delivery and finishing the payment approach moment. The bill can be shown to the acceptance and is accepted even after maturity, and the debtor answers on it the same as if it accepted the bill to term.
- The Obespechitelsky bill is written out for a loan security of the unreliable borrower. It is stored on the deposited account of the borrower and does not intend for a further turn. If payment is made in time, the bill is repaid if is not present - that a claim is made to the debtor.
Bills are shown for payment if other is not stipulated, in the location of the payer. Thus it can be presented for payment in day of payment or during working hours of two next days.
Acceptance of the draft (bill of exchange). As it was already mentioned, the debtor according to the draft has to agree to payment of the bill of exchange by its acceptance. The acceptance is noted in the left part of the face of the bill and is put into words: "Is accepted", either "Is accepted", or I "Will pay", or similar on sense, with obligatory putting down of the signature of the payer. The simple signature of the payer also designates the acceptance of the bill.
Terms of presentation of the draft to payment and a protest can be increased by time of action of the force majeure circumstances which are not concerning personally the bill holder. Within four working days after commission of a protest the bill holder has to inform on it the endorsee and the drawer. Each subsequent endorsee within two working days following behind day of obtaining the notice tells to the predecessor and at the same time the guarantor if he is entrusted for this endorsee. Not parcel of the notice does not deprive of the bill rights of the bill holder.
The bill sum has to be precisely specified in the text of the bill by a copy-book or figures. In case of disagreements between the sum specified by figures and a copy-book the sum specified by a copy-book is considered true. If at the bill there are some sums, it is considered written out on smaller.
For the bill holder absolutely indifferently, what transaction was the cornerstone of the relations of the seller and buyer. Therefore the bill sum cannot be followed by any references to obligations under the transaction. If they exist, the document loses bill force.
The endorsee is responsible for the acceptance and payment. He can decline all responsibility by an inscription "Without turn on me" though such inscription, undoubtedly, will reduce interest in such bill at the subsequent his purchasers.
The endorsement can be made in favor of any person, including even in favor of the payer or the drawer. It has to be simple and nothing caused. The partial endorsement, i.e. transfer only to part of the sum of the bill, is not allowed.
Payment name of a consignee. Usually on the bill it is written: "Pay... to the order (name payee". Thus the particular person is specified. If a payment is made on the person who issued the translated bill, i.e. the drawer, on it is written: "Pay in my advantage" or "Pay under our order".