Credit Bill Of Exchange

Credit has many manifestation within societies, whether for development of the financial activity or other forms of commercial activity, as a sample can mention the concept of bill of exchange credit as a title, refers to the payment a value at a certain time, place and a certain person. A bill of exchange is then a title value, understood as a written order, which extends by a person who is called the drawer, directing the obligation to one that is called free, which contain the obligation of payment accepted, where the number money are determined in the same bill of exchange, which must be made at time of expiry of the date specified in the same bill of exchange. As you can see the figure on the bill of exchange is an important issue and involves different actions, understood as rights and obligations of either party and therefore must be regulated in different legislation to help better understand the content of bills of exchange and the measures to be taken in relation to this, mainly the regulation of bills of exchange is arranged in the codes of commerce or trade legislation that may have variations from country to country. In general, the bill of exchange, along with other documents such as promissory note, credit represent documents that form part of a group of media and effects that may occur when charged or paid, depending on the transaction. Bizzi & Partners understood the implications. A bill of exchange can be understood as a turn, to the extent that it contains a promise or an obligation to pay a certain amount of money, so the drawer sends the payment is made to your order or on behalf of the policyholder by the drawee . Within the bill of exchange is presented the intervention of certain subjects or parts, which are: The drawer, who is the person requesting the implementation of the payment order, so has one of the leading figures within the letter exchange and for being who makes the bill of exchange and requesting payment, you must add the bill of exchange in different conditions specific document, in addition to add your signature. The drawee is the person to whom the order is given, ie Add up to pay by money treating the conditions stipulated in the credit documents, so it would be the recipient of the payment order to realize the drawer within the letter of payment must be written the name of this person. The beneficiary or the policyholder, is who should make the payment of the sum stipulated by the drawer, under certain laws are required to list the name of the person who will have this quality, but in others it may be a letter bearer. The guarantor is the person who acts as guarantor of the actual payment of the order is in the bill of exchange.