Bill - is a type of security that is a debt obligation legally prescribed form.A bill is indisputable and undisputed sales document, it is of two kinds of simple and transferable.A promissory note is a commitment to the lender for payment of the specified sum of money to another person.A bill - a document containing the order to make a payment to another person who must fulfill the acceptor.
A bill must be in strict compliance with the prescribed form of the law, it can be used in commercial calculations, including international ones.The lender, issuer of a bill called the drawer, the borrower, which will pay for the bill, called the drawee, and the recipient of the amounts noted in the bill - remitting.And as the payee may be the drawer himself.A bill was created primarily to facilitate trade transactions.For example, for the calculation of buyer and seller can be used bills, as it will make the payment or a bank or a third party.
A bill must display the following entries:
- word "Bill" should be written in the text and it is in the language in which the document is written.
- simple sentence to pay a certain sum of money.
- maturity.
- name of the payer.
- Note places where the payment is to be promoted.
- These persons by whose order payment is to be promoted.
- place and date of the bill.
- Personal signature of the drawer.
In that case, if the document is not at least one of the above items, the bill may be considered invalid.At the same time, there are a number of abnormalities.
- If the bill does not specify the exact date of payment, it is payable at sight.
- If the instrument does not show the exact place of payment, then it will be the address of the payer.
- If the instrument does not show the position of drawing up the bill, so it will address the drawer.
- If there is a signature on the instrument of third parties who can not commit on the bill, the signature will be void.
A bill presented earlier to obtain his consent to the payment of promissory notes.
The main function of the bill is a certificate bill of rights, it is often considered to securities posting the bill because it is a legal fact, which lies at the basis of creation of some property rights.Turning to the legislation, it is clear that the transfer interest bill should contain an unconditional offer to pay the required amount.Most often, bills of exchange used for issuing debt under the loan agreements.
Today in Russia more relevant promissory notes than transferable.The reasons for the unpopularity of transfer payments in the Russian Federation are:
- promissory notes, as opposed to the conversion shall be exempt from tax on securities.
- Bills of exchange are much more difficult to design.
- additional complexity of a bill creates a procedure for acceptance.
- low level of legal literacy of the population.
Despite the above disadvantages, the use of bills of exchange has an unquestionable advantage over the promissory notes.For example, they can be used in legal transactions under letters of credit when the transaction partners do not know each other.The drafting of the bill can participate from two to four persons.A special feature of the bill is considered and the fact that it can move from owner to owner, but only the last one has to be a real prezentantom.
