promissory notes as well as any other of its kind, is considered to be a security and a contract concluded in writing, indicating the presence of a debt obligation to the creditor.The bill gives the bank its holder the right to receive a specified amount of it after a certain period of time.
A note provides for only two parties to the agreement: the drawer and drawer.The first is considered a borrower who agrees to repay the other side.Noteholder is party, which is a security and which has the right to demand payment of the debt after a set period of time.
As the promissory note is considered to be a security of a unified form, fill it requires the presence of mandatory details.To those include the name of the parties of the contract, their address and the required position, the period after which you can get the debt, the designation of a particular place, where will occur refund amount.And of course, this security must be certified by the signatures of the participants of the transaction, which proves that their acquaintance with the commitments and mutual consent.
If any of the above details filled properly or absent, the document may be declared invalid.Then the maker has the right to refuse to pay the debt on the basis of non-compliance of the security standard samples.However, there are some exceptions.For example, in the absence of a specific period of repayment debt should be repaid upon demand of the creditor.And unless specified place of preparation of this agreement or the place of payment of the debt is to be made automatically address the drawer indicated in the statement.
Any security expert should be completed as illiterate registration document - this is a significant risk.First and foremost, the lender's risk, because if violated the order of filling, then a promissory note becomes a standard receipt to recover the debt.As you know, the receipt does not have such a significant legal force, so the holder is a risk of default funds.In this situation, in the event of failure of the borrower to satisfy the creditor's claim only recourse is an appeal to the court.
convenience of a promissory note due to the lack of acceptance of payments need.On the due date of payment of a security holder must submit it to the specified address in the bill no later than two days.In case of failure of the debtor to pay the invoicing should immediately begin the process of registration refusal by the notary.Another advantage is a promissory note is that it is not a prospectus.This gives everyone the right to be the subject of the drawer, even an individual, if desired able to write a simple note.
Currently, these securities have become one of the main instruments of debt consolidation parties.Particularly active this tool used by banks and other lending institutions.According to statistics, bills Sberbank occupy a leading position in the market of services.This is due to a high degree of confidence in the bank by the customer.That is why the share of sales of bank bills is much higher than all other positions.So, Sberbank has issued promissory notes in circulation in excess of thirty trillion rubles.
Thus, a promissory note used to secure the loan agreement by many business entities, banking organizations and even individuals.It is easy to use, fairly easy to understand for all citizens, so it is of great importance for the economic development of the country as a whole.
