A bill of exchange is an IOU received from a debtor. The presence of a bill does not cancel the obligation to pay the debt in cash. To receive money, you need to present a bill for payment.
Instructions
Step 1
If you are a creditor, the promissory note debtor is obligated to return you the amount indicated on the promissory note. You have the right to demand the repayment of the bill, in addition, the initiative to repay the debt must come from the creditor. A bill of exchange can change several holders, so the debtor does not always know who the owner of the bill is at the time of the debt maturity. The transfer of the bill is certified by a signature on its reverse side.
Step 2
Before presenting a bill for payment, see if the document is drawn up correctly. It must be drawn up on paper and must always contain the following details: the name of the document - "bill of exchange", the obligation to pay the specified amount of money, the date and place of payment, the name of the person to whom the bill is issued, the date and place of drawing up the bill, the original signature of the drawer.
Step 3
The drawer pays on the bill, therefore he is presented with a document for payment. If the debtor refuses to pay, its holder must also present the document to the chain of previous owners of the bill and guarantors. All of them are jointly liable to the bearer of the bill.
Step 4
Present the bill in advance, before the expiration date. The holder of the bill before the due date of payment must indicate the date of payment and demand from the payer written consent or disagreement to redeem the bill. Do not hand over the original bill of exchange to the debtor before you receive the money.
Step 5
When presenting a bill for payment, document this fact. It can be a demand, a receipt for presentation, a simple letter. Otherwise, in case of non-payment of the debt, you will not be able to prove that you presented the bill of exchange on the day indicated in the document.
Step 6
If the payment is not received within the agreed time, contact a notary. The notary will call the defaulters and oblige to pay the debt. If the call to the notary was ignored, submit the documents to the court.
