Bill - a document certifying the obligation of the issuer to pay a specified sum of money in it in due time.This type of securities is, in fact, an abstract monetary obligation, drawn up strictly according to the prescribed form.Such documents are absolute and indisputable IOUs.
bill legislation of almost all countries is based on the bill of the Convention signed in Geneva in 1930.
By the nature of the transaction, which involves a bill, they are divided into the following types.Commercial paper - a document that arises when the purchase and sale of goods, provision of services and performance of works in the loan contract.He is accompanied by additional documents confirming his trademark character.Financial - issued by the Ministry of Finance and the Bank to raise additional funds.
are two main types of these securities.A promissory note - is an unconditional obligation of the issuer to pay the amount specified in the document at the request of any note holder in the specified period.When accessing the document to the original participants - the drawer and acceptor - may also join others: endorsers and guarantor.
bill of exchange - is a document with the order of the drawer to the debtor to pay her the amount prescribed in the payee (the person to whom a bill is passed on the right to receive money).Drawer - the drawer, the drawee - the payer.This bill has the power of joint obligation: each subsequent holder becomes liable for payment, together with the debtor.Endorsement certifying the passage of such a right to another person, called the endorsement.
Based on the principle of profitability, share notes on interest (paid to the nominal value and interest) and discount (paid only the nominal value, they turn at a discount from their face value).
class notes is very diverse.On the basis of the issuer of these securities come in two varieties.Treasury bills - a short-term debt that is issued by the government or the Central Bank with a maturity of 90 or 180 days.Security notes are a means of enforcement of obligations under the transaction.They are used to provide a loan, if there is uncertainty about the mandatory funded.
private bill is issued financial groups, corporations, commercial banks.Such securities service trade and financial transactions.They reflect the attitude of the loan with interest.With their help, it is handed to the loan received budget financing, transfer taxes, wages, currency exchange.This bill has a variety.Friendly bill - issued by one person to another, is not accompanied by the intent to pay for it, but only for the purpose of netting the bank.They exchanged between persons held in trust (friendly) relations, subsequently to give bail to the bank and get money for it, or to pay for goods.Bronze ("phony") bill - this paper, for which there is a real bargain and financial circumstances, and at least one of the persons involved in such an operation is assumed.In this paper, you can get the money in the bank or use it to pay off debts for commodity transactions, or other financial liabilities.These promissory notes used in financial difficulties of the debtor or fraudulent transactions.Such documents are fake cash flow.
monetary bills in circulation lead to negative phenomena in the economy and divert resources from trade, lead to the devaluation of money.In this regard, there is the concept of "bill of inflation."
