A bill of exchange is a security that confirms the monetary debt of one person to another. When writing out a bill, the debtor, as it were, provides a "IOU" to the creditor. If the drawer himself is at the same time the creditor of another person, he may demand to pay the debt not to him, but directly to the creditor, that is, to a third party.
Instructions
Step 1
This operation can be carried out by a bill of exchange on the basis of the current bill of exchange legislation and is drawn up as follows: "Pay … (name of the holder of the bill) or his order"
Step 2
Transfer the bill of exchange to another person with the inscription (endorsement) of its owner. Without an endorsement, sealed, rights under the bill are not recognized. Put the inscription on the back of the document. The inscribed phrase "Without turnover on me" will remove responsibility for payments and acceptance, and the words "not ordered" will exclude further transfer of the bill. The transfer inscription can be inscribed or in blank. The personal endorsement contains the name of the new purchaser. The letterhead consists only of the signature of the person delivering the bill.
Step 3
Enter the amount to be paid. Write it in numbers, and in parentheses in words without any abbreviations. Be sure to indicate the payment currency as well.
Step 4
You need to know the details of the security, which are required when filling out a bill of exchange. In addition to the label "bill of exchange" and the unconditional requirement to pay a certain amount under the bill of exchange, the due date is indicated. It can be "on a certain day", "on presentation", "in so much time from presentation", "in so much time from compilation."
The unconditionality of a demand means the independence of the transfer of a bill of exchange from various events.
Step 5
Indicate the place where the payment was made, otherwise it will be considered the location of the payer if it is not specified.
Step 6
If the payer is an individual, indicate his last name, first name and patronymic, place of residence and passport data, if legal - his full name and legal address.
Step 7
The location and date of drawing up the bill are also required.
