A bill of exchange is a security according to which its owner (holder of a bill) has an indisputable right, upon the expiration of the obligation, to demand from the debtor the payment of the amount indicated on the bill. When the bill of exchange is due, it is presented to the main debtor.
Instructions
Step 1
If you want to cash a bill of exchange, then contact the issuer of the bill of exchange or the acceptor if the bill is a bill of exchange. You can present a bill of exchange only if you are its legal holder. In the case of presentation of a bill with a blank endorsement, the payer cannot demand to fill out the form on behalf of the bearer.
Step 2
If you are cashing a bill of exchange drawn up for a legal entity, then you must show the payer a power of attorney, which must indicate the proper authority. In addition to the power of attorney, you must submit a completed application to the drawer and draw up an act of acceptance and transfer of the bill.
Step 3
You can pay the bill upon direct presentation of the security and an examination of its authenticity. The examination, as a rule, is carried out in such a period that the holder of the bill has time to make a protest. The owner of the bill of exchange has the right to transfer the security for examination against a receipt with the obligation to return the bill to him or to transfer documents confirming the payment by a certain date.
Step 4
When transferring a bill for examination, do not forget to receive a receipt from the payer for the paper. You can also keep a notarized copy of the bill of exchange. The presence of these documents, if necessary, will allow to restore the rights on the lost bill.
Step 5
After determining the authenticity of the bill, the payer is obliged to pay it. It can be made in cash or by bank transfer of your choice. When calculating a bill of exchange, the calculation of the amount of interest is based on the actual circulation period of the bill and the number of days in a year. After payment, the bill is marked "paid". When paying a bill of exchange, the payer must send the drawer a written notice of payment.
