Basic terms and concepts. The difference between a bill of exchange and a check Comparative characteristics of a check and a bill

Russian legislation mainly reflects the content of the Uniform Law on Checks, which is Annex No. 1 to the Geneva Convention of 1993. The rules of the Civil Code of the Russian Federation adopted the main provisions of the Uniform Law with some peculiarities. In turn, the norms of the Civil Code of the Russian Federation should be specified in special laws and other acts on checks and banking rules issued in accordance with them.

The essence of settlements by checks is that a check is not only a settlement document, but also a security that contains an unconditional order of the drawer of the check to the bank to pay the amount indicated in it to the holder of the check (Article 877 of the Civil Code of the Russian Federation). The parties (subjects) of a check legal relationship are the drawer, the payer of the check and the holder of the check. The payer in a check obligation can only be a bank where the drawer has funds that he can dispose of by issuing checks. As a rule, a check is used to pay for the underlying obligation that has been established between the drawer and the holder of the check, but the issuance of a check does not, in itself, extinguish the monetary obligation for which it was issued. It is considered executed only at the moment of receipt by the holder of the check of payment on the check.

Acting as a security, the check must contain statutory mandatory details (Article 878 of the Civil Code of the Russian Federation), the absence of most of which deprives him of the legal force of the check. These details include: the name "check" included in the text of the document; an instruction to the payer (bank) to pay a certain amount of money; the name of the payer and indication of the account from which the payment is to be made; indication of the payment currency; indication of the date and place of leaving the check; signature of the drawer.

If the check does not contain information about the place of its compilation, this does not entail the invalidity of the check (unlike the absence of any of the other details) - such a check is considered as signed at the location of the drawer. The law also establishes the form of the check and the procedure for filling it out. In particular, according to Art. 880 of the Civil Code of the Russian Federation, a check can be nominal and transferable. The type of check determines the method of transfer of rights on it. The transfer of rights by check is carried out according to the rules of Art. 146 of the Civil Code of the Russian Federation, taking into account the exceptions established by Art. 880 of the Civil Code of the Russian Federation. These exemptions are as follows: a nominal check is non-transferable, which means that the transfer of rights on it in the order of assignment is inadmissible; an endorsement to the payer in a transferable check has the effect of a receipt for payment; an endorsement made by the payer is invalid. A person who holds a transferable check received by endorsement is its legal owner if he bases his right on a continuous series of endorsements. The endorsement is made on the check itself (its back) or on the attached sheet (allonge). All rights deriving from the check shall be transferred to the endorsement. If the endorsement is in blank, then the holder of the check (endorser) can: fill in the blank with his own name or the name of another person (turn a blank endorsement into a warrant endorsement); transfer the check by another blank endorsement or in the name of another person; send a check by simple delivery. Than it can also be transferred by mandate of endorsement (clause 3 of article 146 of the Civil Code of the Russian Federation).

According to Art. 881 of the Civil Code of the Russian Federation, the law establishes the institution of aval, or a check guarantee. The guarantee of payment by means of aval can be full or partial. Any person, except for the payer, can act as an availist for a check. The guarantor is responsible for the payment of the check in the same way as the one for whom he gave the aval. His undertaking is valid even if the undertaking which he has guaranteed is invalid for any reason other than failure to comply with the form. The guarantor who paid the check shall transfer the rights arising from the check against the one for whom he gave the guarantee, as well as against those persons who are indebted to the latter. Aval is affixed on the front side of the check or on additional sheet. It is denoted by the words "count as aval" and contains an indication by whom and for whom it was given. If there are no such indications, then it is considered that it was given for the drawer as the main debtor. The aval is signed by the avalist indicating his place of residence (for an individual) or location (for a legal entity) and the date of the aval.

A check is presented for payment by presenting it directly to the paying bank, as well as presenting the check to the bank serving the drawer for collection for collection. And this, according to paragraph 1 of Art. 882 of the Civil Code of the Russian Federation, is considered to be a presentation of a check for payment. Payment of the collected check occurs in the order of execution of the collection order (Article 885 of the Civil Code of the Russian Federation). The payer of the check is obliged to verify by all means available to him the authenticity of the check, as well as that its bearer is a person authorized by it. When paying an endorsed check, he must verify the correctness of the successive series of endorsements, but not the signatures of the endorsers. After paying the check, the payer may, for example, demand that the check be handed over to him with a receipt for payment. In the case of payment of a forged, stolen or lost check, the question may arise about the distribution of the losses incurred between the drawer and the bank. According to paragraph 4 of Art. 879 of the Civil Code of the Russian Federation, losses are assigned to the payer or drawer, depending on whose fault they were caused.

If the bank refuses to pay the check, the confirmation of this fact can be carried out in several ways, provided for in Art. 883 of the Civil Code of the Russian Federation: by a notary making a protest or drawing up an equivalent act in the manner statutory; the payer's mark on the check refusing to pay it and indicating the date of submission of the check for payment; a mark of the collecting bank indicating the date that the check was issued in a timely manner, but not paid.

A protest is an official act, which is performed by a notary, certifying the fact of non-payment of a check. A protest or an equivalent act must be made before the expiration of the time limit for presenting a check for payment. If the check has already been presented for payment on the last day of the term, a protest or an equivalent act may be made on the next business day. In case of non-payment of the check, the notary certifies this fact with an inscription on the check and a note about this in the register. Simultaneously with the inscription on the check, a notice of non-payment is sent to the check drawer.

A holder of a check who has not received payment must notify his endorser and drawer of the non-payment within two business days following the date of the protest or an equivalent act. Each endorser must then, within two business days following the day on which he receives the notice, inform his endorser of the notice he has received. At the same time, notices are sent by the availist of these persons. A person who has not fulfilled the obligation to send a notice within the specified period does not lose his rights. His liability is limited to the obligation to reimburse, within the amount of the cheque, the losses that may occur as a result of failure to notify of the non-payment of the cheque.

The holder of a check, endorsers, avalists and other persons liable under the check are jointly and severally liable to the holder of the check for the payer's refusal to pay the check (Article 885 of the Civil Code of the Russian Federation). At the same time, the holder of a check has the right, at his choice, to bring a claim against one, several or all persons liable under the check. He may also demand from persons liable under the check to pay the amount of the check, reimbursement of his costs for receiving payment, as well as payment of interest for non-fulfillment of a monetary obligation in accordance with paragraph 1 of Art. 395 of the Civil Code of the Russian Federation. The same right belongs to the person liable for the check after it has paid the check (clause 2, article 885 of the Civil Code of the Russian Federation).

In accordance with paragraph 3 of Art. 885 of the Civil Code of the Russian Federation for claims arising from non-payment of a check, a reduced limitation period is established: a claim by the check holder against persons liable under the check may be brought within six months from the date of expiration of the deadline for presenting the check for payment. Recourse claims of obligated persons against each other shall be extinguished with the expiration of six months from the day when the corresponding obligated person satisfied the claim, or from the date of filing a claim against him.

In the light of the foregoing, checks with the heading "Russia" are of great importance, the circulation of which has its own characteristics. Firstly, the scope of their use is limited to homogeneous calculations. Secondly, payments by these checks are made only cash settlement centers Bank of Russia after the transfer to them Money paying banks. Thirdly, the endorsement of such checks and their settlements between citizens are prohibited.

Sometimes in the area under consideration, other forms of calculations are used, in addition to the above. Thus, payment orders are used for transfers through communication enterprises. By virtue of the Federal Law of August 9, 1995 "On Postal Communication", legal entities can make such transfers without limiting the amount to the accounts of individual citizens (wages, royalties, etc.), as well as when transferring cash trade proceeds, taxes and for payment wages where there are no banks. Citizens can make payments through communication enterprises without restrictions.

Today, new for the Russian banking turnover is the use of electronic forms of payment and, in particular, banking plastic cards. Their application is based on the Regulations on the procedure for issuing credit institutions bank cards and settlements on transactions made with their use.

The convenience of this form of payment lies in the fact that a client who has a bank account does not have to transfer settlement documents to the bank to make a payment. They are replaced by a plastic card with a magnetic carrier, which contains information about the client and his account. In addition, obtaining a card that has a worldwide reputation or regional recognition on the basis of interbank agreements allows its holder to make payments in different countries regardless of the currency of the card account. A plastic card also allows you to receive cash at ATMs and cash points serving this system bank cards.

Before issuing a plastic card, an agreement is concluded between the client and the bank on the use of this means of payment. Bank cards there are: settlement (debit), for which funds are transferred within the spending limit (card balance); credit, according to which the bank provides credit to the client's account in case of insufficient funds on it within the limits of the provided credit limit; personal, funds for which belong to citizens; and corporate, for which payments are made on behalf of the legal entity that transferred the money. To carry out settlements, it is only necessary that the organization (shop, hotel, carrier, etc.), the payment of which the account holder intends to make, be included in the system for using the appropriate settlement funds. The amount to be debited almost immediately enters the settlement center through the electronic terminal and is transferred from the cardholder's account to the recipient's account. The transaction is also recorded by a paper document in the required number of copies. Such a document is usually signed by the client and the organization (executor) as proof of the settlement transaction and receipt of the goods (services). The client (cardholder) is responsible for the correctness of the payment and the availability of cash coverage on the card account.

A bill is a means of payment and credit in relations between various organizations and citizens. With the help of a bill of exchange, the mutual debt of the participants in civil circulation and its repayment take place. Bills of exchange are actively used in banking transactions, as well as in foreign trade relations, being the subject of discounting, letters of credit and collection operations.

At present, the main source of bill legislation in Russian Federation is an the federal law dated March 14, 1997 "On a bill of exchange and a promissory note" (Law on a bill of exchange) . In accordance with it, the resolution of the Central Executive Committee and the Council of People's Commissars of the USSR of August 7, 1937 “On the Enactment of the Regulations on a Transferable and Promissory Note” (hereinafter referred to as the Regulation) is applied on the territory of Russia, which textually reproduces the Uniform Law on a Transferable and Promissory Note (Appendix No. 1 to the Geneva Convention of 1930).

The concept of "bill" is used in three meanings: a security, a unilateral transaction (issuance of a bill) and an obligation arising from the transaction.

A bill as a security can be simple and transferable. In the legal relationship generated by a promissory note, usually two persons take part: the drawer (debtor, payer) and the holder of the bill (creditor). The circulation of promissory notes is built on the basis of the rules on bills of exchange, with the exceptions that follow from their nature. In a bill of exchange, the figure of the drawer is separated from the figure of the payer, and therefore the obligations arising from the bill of exchange bind at least three persons - the drawer, payer and holder of the bill. In any bill, there is the main debtor - the drawer, who cannot in any way limit his liability for payment, as well as other debtors - the drawee (payer) in the bill of exchange after its acceptance, endorsements and avalists. The responsibility of all these persons is joint and several.

The bill and the obligation generated by the issuance of the bill are characterized by the properties of strict formality and abstractness. The formality of the bill is that the document, which lacks any elements of the bill, is deprived of the force of the bill. The abstractness of a bill is usually understood as a bill of exchange obligation, which is not connected with the basis of its occurrence (any transaction) and is not conditioned by anything. The holder of a bill cannot be opposed by objections that arise from other relations existing between the drawer, payer and endorsers (previous holders). An exception is the case when the holder of a bill, while acquiring a bill, deliberately acted to the detriment of the debtor. The bad faith of the holder of a bill occurs when he deliberately acquired a bill of exchange for the purpose of unlawful enrichment at the expense of the debtor (for example, he received a bill that was not filled at the time of its issuance, or acquired it as a result of collusion with a previous endorser, against whose rights the bill debtor has strong objections) .

A bill of exchange can be nominal and order. Bearer bills in states that have acceded to the Geneva Convention are not allowed. Any bill, even issued without a direct clause on the appointment of another authorized person, is assumed to be an order and transferred by means of endorsement. In this sense, a promissory note is not reducible to an ordinary promissory note, which cannot be transferred by order and usually does not entail the joint and several liability of its signatories. Such a bill can only be transferred in the form and with the consequences of a general civil assignment (Chapter 24 of the Civil Code of the Russian Federation).

A promissory note is a security containing an unconditional obligation of the drawer to pay certain period to the holder of the bill or to his order the amount of money specified in the bill. Accordingly, a bill of exchange (draft) is a security containing an unconditional proposal of the drawer (drawer) to the drawee (drawer) to pay within a certain period of time to the holder of the bill (payer) or his order the amount of money specified in the bill.

Each bill must contain a set of details that give it bill of exchange force. The details of the bill are closely related to its form. Failure to comply with the details of the bill means the nullity of its form: a written document that lacks any of the mandatory designations cannot be considered a bill, and therefore does not embody a bill of exchange obligation. The requisites of a bill of exchange usually include the following: the name "bill" included in the text of the document and expressed in the language in which this document is drawn up; a simple and unconditional offer to pay a certain amount of money (bill of exchange); name of the payer (drawee); indication of the payment term; an indication of the place where the payment is to be made; the name of the person to whom or to the order of whom the payment is to be made (recipient); indication of the date and place of the bill; drawer's signature (drawer).

Only in three cases is it allowed to deviate from the severity of the bill of exchange form: if there is no maturity date in the bill, it is considered payable upon presentation; in the absence of a special indication, the place indicated next to the name of the payer shall be considered the place of payment; a promissory note that does not indicate the place of its drawing up is recognized as signed in the place indicated next to the name of the drawee.

Making a payment is the main obligation of the payer who accepted the bill (drawer in a promissory note). It is made depending on the term of payment specified in the bill. Since the holder cannot be compelled to accept payment before the due date, the drawee who pays the bill prematurely makes such payment at his own risk. Timely payment of a bill of exchange releases the payer or other person liable under the bill of exchange from the bill of exchange obligation, except in cases of fraud or gross negligence in the actions of such a person. The payer is obliged to verify the correctness of the successive series of transfer signatures, but not the signatures of the endorsers. With proper payment, the payer may demand the transfer of a bill of exchange to him with a receipt for payment.

Unlike general rules Art. 311 of the Civil Code of the Russian Federation, the holder of a bill cannot refuse to accept a partial payment. In this case, the bill of exchange remains in the hands of the drawer, but the payer may demand that a note be made on the bill of payment and that a receipt be issued to him. If the holder of the bill has not presented the bill for payment in set time, each person obligated under the bill (drawer, drawee, endorsers, avalists) has the right to deposit the amount of the bill on the deposit of the court at the expense and risk of the bill holder.

Due to the fact that a bill of exchange can be drawn in a currency that is not in circulation at the place of payment, the law provides for the possibility of paying it in local currency at the exchange rate foreign exchange on the day the payment is due. In addition, the drawer may establish in the bill the so-called "effective payment clause", the meaning of which is to impose on the drawee the obligation to pay the bill in the chosen currency. In this case, of course, the rules of national currency legislation should be taken into account.

The liability of all persons liable under the bill of exchange to the holder of the bill is joint and several. The creditor of a bill may bring an action against all obligated persons or against each separately, without observing the sequence in which they undertook. The person who paid the bill acquires the right to claim against the remaining debtors of the bill, replacing the holder of the bill. The scope of the requirements of the holder of the bill includes: the amount of the bill with interest, if any; 6% calculated from the date of the due date; reasonable costs of the promissory note (expenses for the protest, sending notices); penalty in the amount of 3% from the date of the due date. However, this provision was partially amended by the Bill of Exchange Act. In Art. 3 of this Law states that interest and penalties provided for by the Regulations are paid in the amount of the discount rate established by the Bank of Russia, in accordance with the rules provided for in Art. 395 of the Civil Code of the Russian Federation. The rights of the person who paid the bill in relation to the persons responsible to him are somewhat narrower than the rights of the holder of the bill, and do not include a penalty.

The expiration of the terms stipulated by the bill for its presentation, as well as the expiration of the period for making a protest in non-acceptance or non-payment, entails for the receiver the loss of his rights against endorsers, the drawer and other obligated persons, except for the payer-acceptor. The responsibility of the latter is more stringent precisely because of his earlier consent to pay the bill. As a result, the limitation period for the claim of the bill holder against the payer who accepted the bill is the longest and is 3 years from the date of payment. The claims of the holder of a bill against endorsers and against the drawer shall be extinguished by the expiration of one year from the day of the protest or from the date of the due date. Limitation of actions on the claims of endorsers to each other and to the drawer is 6 months from the day when the endorser paid the bill, or from the date of filing a claim against him.

After the entry into force of the Civil Code of the Russian Federation and the invalidation of the Regulations on checks, approved by the Decree of the Supreme Council of the Russian Federation of February 13, 1992 No. 2349-1 (Vedomosti RF. 1992. No. 24. Art. 1283), only some of the previous rules on checks marked "Russia" (for example, letter of the Bank of Russia dated June 29, 1992 No. 18-11/726, etc.).
SZ RF. 1997. No. 11. Since the entry into force of this Law, the decision of the Presidium of the Supreme Soviet of the RSFSR dated June 24, 1991 “On the use of a bill in economic circulation” has been declared invalid.
SZ USSR. 1937. No. 52. Art. 221.

Which provides for a deferred payment or unconditional payment for purchased goods, works or services within a predetermined period.

A bill of exchange is a security that confirms the obligation of the debtor (drawer) to pay the specified amount to the creditor (bill holder) within a specified period after the bill is presented for payment.

At the same time, the right to claim can be transferred to third parties without additional conditions and agreements with the drawer.

The bill is used as payment and means of payment, and is also used as a means of obtaining a loan, which was provided by the seller to the buyer in commodity form in the form of deferred payment.

Therefore, we can say that a bill of exchange is a dual market instrument that secures obligations on the one hand and repayment of debt on the other.

Functions of a bill

The bill is the most important financial instrument performing certain functions:

The bill is primarily a means for obtaining a loan. With the help of a bill, you can pay for the purchased goods or services, return the loan received, provide a loan. Creditors are attracted by the formal and material strictness of the bill, its easy transferability and speed of debt collection.

Another function of a bill is the possibility of using it as a security for transactions. In other words, the holder of the bill has the right to receive money on the bill earlier than the term specified in it in two ways: by discounting the bill in the bank or by obtaining a loan against the security he has.

The bill serves as an instrument of monetary settlements. In addition, it is able to speed up settlements, since before the moment of payment, the bill passes through several holders, extinguishes their obligations and thereby reduces the need for real money.

Benefits of a bill

Bill transactions are the issuance (receipt) of cash loans.

Enterprises and organizations can carry out such operations, bypassing banking system with its terms and conditions and mandatory commissions.

In addition, the bill is mobile in financial plan. Being a security, it can always be sold for stock market or deposited in a bank.

Distinctive features of the bill

The salient features of the promissory note are as follows:

Abstraction of a bill. That is, the obligations under the bill have only a monetary value and are not directly related to the specific obligations of the drawer.

The possibility of transferring to third parties without documentary fixation of such an operation;

Indisputability of a bill. That is, the requirements under the bill are unconditional for execution and are implemented in full.

Solidarity bill. That is, all persons involved in the execution and circulation of the bill bear responsibility for the bill.

Promissory notes. That is, the bill is issued in the form of a form strict accountability in paper form.

In case of non-payment of the debt within the stipulated period, no legal proceedings are required. In this case, it is enough to make a notarial protest.

What tasks does the bill solve

The use of a bill solves the following problems:

creates conditions for the unconditional receipt of funds for the delivered goods, work performed or services rendered;

makes it possible to conclude a transaction for the sale of goods, works, services without the condition of advance payment;

can be used effectively means of payment between legal entities and individuals, to offset mutual claims;

may be an object of sale or be the subject of a pledge.

Types of bills

In practice, the following types of bills are distinguished:

Simple bill. The bill contains an obligation to pay the required amount within a predetermined period, and to the address of the creditor, in whose name the bill is drawn up. That is, the bill acts as an analogue of a promissory note. We can say that a promissory note is a security that contains an unconditional obligation of the drawer to pay the amount to the holder or his successor. The circulation of a promissory note presupposes the presence of two subjects: the drawer and the purchaser of the bill (the holder of the bill);

A bill of exchange or draft (Italian "tratta" - transfer) bill. On such a bill, the debtor (drawer) makes a payment in favor of a third party (payer) on his order or on behalf of the person who issued it (drawer). A bill of exchange is analogous to the transfer of debt under a loan agreement. We can say that a bill of exchange, or draft, is a security that contains a written order from the drawer to the payer to pay within a certain period of time the established amount to the holder of the bill or his successor. A bill of exchange binds at least three subjects: the drawer, the drawee and the payer.

Avalized bill. Such a bill provides for an additional guarantee of the bank (avalist) for the execution of payments. A bill of exchange can be either simple or transferable.

Thus, bill types of securities are subdivided into promissory notes and transferable ones.

The first type provides for the issuance of a loan and the signature of the debtor that he undertakes to return it to the creditor within a clearly defined period in a specified place. Only two persons are involved in such a transaction: the drawer and the holder of the bill.

A bill of exchange (draft) is issued and signed exclusively by the creditor. The text of such a document contains an order to the debtor to pay the debt within the specified period, but not to him, but to a third party (remittent).

Varieties of bills

In addition to classifying bills by type, they can additionally be divided into forms:

Commercial (commodity) - documents intended to ensure transactions of sellers and buyers.

Financial - allow enterprises to receive loans and credits from other enterprises.

Blank - documents for trade deals when the price of a product or service has not yet been set or may change. In this case, the buyer, fully trusting the seller, certifies with his signature the blank form, which will be filled in later by the last one.

Friendly - bills that are issued only to those who deserve unconditional trust.

Bronze - documents without real security, issued to fictitious persons or enterprises. Such bills are often used simply for bank accounting or to artificially increase the debts of a bankrupt.

Security - bills issued to secure a loan or credit of a knowingly unreliable borrower. Such a document is usually kept in a deposit account with the debtor and is not intended for circulation. Upon settlement of the loan, the promissory note is repaid.

Rekta bill (nominal) - a security from which the drawer has taken away its main property: transfer to another person.

Acceptance and

Acceptance process by the future payer financial obligations on payment of a bill of exchange is called acceptance.

In fact, this is his consent, confirmed by the corresponding signature of the acceptor. An endorsement of a bill is its assignment to a third party.
It can only be applied to promissory notes. The endorsement provides for the presence of an endorsement on the document itself, according to which all rights to it are transferred to another person.

Usually such an inscription is made on the reverse side of the bill or on a special additional sheet called allonge.

The person who left his signature under the endorsement and accepted the rights to financial document, is called an endorser.

Aval bills

Aval is a kind of guarantee for a bill. It can be carried out by any person, with the exception of the holder of the bill and the drawer. A person who puts an aval on a document is called an avalist.

What is a bill as a document

In accordance with the "Regulations on a promissory note and a bill of exchange", the document must contain:

an appropriate label indicating that it is a bill of exchange, and not some other security;

the bill mark is usually used twice: at the top of the document and in its text, and blank bills of exchange without a mark are considered invalid;

a clearly defined amount of money;

payer details (for a bill of exchange);

due date (at sight, at such and such time from drawing up, at such and such time from presentation, on a clearly specified date and time);

the place where the payment is to be made;

details of the person to whom the payment should be made;

date and place of drawing up the bill;

handwritten signature of the person who issued the bill.

Mandatory bill details

The text on the bill of exchange must contain the following information:

Title: Indicates "Promissory Note" or "Bill of Exchange";

Order or obligation. In the case of a bill of exchange, the phrase: "Payment ...<данные организации или физического лица>or his orders";

Requisites for presentation after the maturity date. The name and address for legal entities, place of residence and personal data for individuals are indicated;

Amount payable. The amount is indicated in without fail in numbers and in words, which is considered the main one in case of discrepancy with the digital one. If there is more than one amount, the smaller amount is payable. At the same time, no corrections, breakdown of the amount payable by terms or parts are allowed.

Payment term. The current legislation provides for the following options:

"upon presentation". The bill is payable no later than one year from the date of issue, unless otherwise specified. In case of delay, the bill becomes invalid.
"after the end of the term". Payment on the bill must be made within a certain period after presentation. The specified period is the final day not only for payment, but also for protest.
"period after commencement". The bill of exchange must be paid after a certain number of days from the date of issue.
"on a certain day." Payment on the bill is carried out on a specific day specified in the bill.

Place of payment. Unless otherwise agreed, the presentation of the bill for payment is made at the location of the drawer-payer. Multiple locations are not allowed.

Date, address of statement and payment. Multiple locations are not allowed. An unrealistic date, its absence or a non-existent address makes the bill invalid.

Drawer's signature. The signature is carried out only by handwriting. The bill will be invalid without a signature, or if a forgery is detected. For legal entities, it is necessary to put a seal and certify the bill with two signatures: the signature of the director and the signature of the chief accountant.

Bill payment

The promissory note payment procedure includes the following steps:

presentation of a bill of exchange for payment within a reasonable period of time. If the bill of exchange is due on a weekend, the payment is made on the first business day;

immediate payment by the debtor of the amount specified in the bill. Deferred payment is possible only in case of force majeure.

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Loan agreements The taxpayer issued its own bills for the amount of the loan and transferred ... to lenders under acts of acceptance and transfer of bills. At the same time, the disputed companies are ... returned to these organizations upon presentation of promissory notes at the time of their repayment by the Taxpayer ... . Evidence that the issued promissory notes were actually secured by property...
Practice of the Supreme Court of the Russian Federation on tax disputes for September 2019
A participant in a loan relationship formalized by the issuance of a bill. Repayment of the loan does not result in... expenses. For those cases when the bill was an object of property (a security ... which was the transfer of rights to the bill, in accordance with paragraph 1 ...
Review of letters from the Ministry of Finance of the Russian Federation for June 2019
property used in entrepreneurial activity, bank bills, income from the sale of this ... in the part attributable to payment by a bill, is taken into account individual entrepreneur applying a simplified ... taxation system, on the date of payment of the bill by the bank (the day the funds are received ...
... (expenses) in the form of a discount on bills of exchange with the clause "at sight ...; as the maturity of such a bill, the estimated maturity is used, which ... as the period from the date of drawing up the bill to the date indicated as" ...

According to Art. Art. 143 and 815 of the Civil Code of the Russian Federation, a bill of exchange is recognized as a security containing a simple and unconditional obligation of the drawer (promissory note) or other payer specified in the bill (bill of exchange) to pay a certain amount to the holder of the bill upon the due date. Thus, a bill of exchange obligation can be characterized as an unconditional, abstract, strictly formal monetary obligation. Federal Law of March 11, 1997 No. 48-FZ "On a transferable and promissory note".

The main participants in the bill of exchange are the drawer, the holder of the bill and the payer. The subject composition is determined depending on who acts as a payer on a bill - the drawer himself or a third party indicated by him. There are three types of bills: simple, transferable and transferable - simple. A bill of exchange has a second name - a draft, and its participants are otherwise called: drawer (drawer), payer (bill holder), drawee (payer). In a bill of exchange, the drawee and the drawee are the same person. In form, such a bill is transferable, but in content it is simple. A bill of exchange may be registered, order or bearer, depending on the method of transfer of rights.

Among the features of a bill as a security, one can name its properties of strict formality, unconditionality and abstractness. So, for a bill, the rule applies: what is not in the bill does not exist. A defect in the form of a bill of exchange entails its absolute invalidity. This feature of the bill is called "bill strictness".

Any promissory note in accordance with the current legislation must be drawn up only on paper, it is not allowed to issue a bill of exchange in non-documentary form.

The regulation on a promissory note and a bill of exchange determines the mandatory details of this security. The absence of at least one of required details bill of exchange deprives it of legal force.

Another feature of the bill is unconditionality.

However, this does not mean that a promise or an order to pay a sum of money cannot be conditioned by any circumstances. As a rule, they are contained in the bill in a hidden or explicit form.

However, unconditionality must be understood as referring only to a promise or offer to pay a sum of money. But there is no absolute unconditionality in the bill of exchange legal relationship. In addition, the bill of exchange contains a conditional obligation.

Another feature of the bill is its abstractness. This property means that the bill of exchange obligation is not connected with the basis that gave rise to it. The explanation here is as follows: a bill of exchange is a negotiable document, it can serve as an independent means of payment, so the purchaser of the bill must be sure that payment on the bill will be made regardless of the execution of the original transaction underlying it.

The transfer of rights under a bill of exchange is carried out by making a special inscription - an endorsement.

The fulfillment of a bill of exchange obligation also has a peculiarity - the payment on a bill is made not at the initiative of the debtor, but at the initiative of the creditor, since the debtor may not know who his creditor is. After all, as a result of the endorsement, the bill could go to a completely unknown debtor person.

Payment under a bill of exchange can be received only upon its presentation, on the due date specified in the bill. Delay in presenting a bill of exchange for payment releases from liability all parties liable under the bill, except for the acceptor in a bill of exchange and the drawer in a promissory note.

Refusal to pay on a bill of exchange or acceptance, as well as non-payment on an accepted bill of exchange, must be certified through a special pre-trial procedure - a bill protest. For claims based on bills of exchange protested in the specified order, court order and executed according to the rules stipulated by the Code of Civil Procedure of the Russian Federation.

A check is a security containing an unconditional written order of the drawer of the check to the bank to pay the holder of the check the amount indicated in it.

In property circulation, checks mainly perform a settlement function. There are three persons involved in check relations - the drawer, the paying bank and the holder of the check (payer). The circle of these persons may be expanded as a result of the transfer of a check under endorsement or the provision of a guarantee of payment on a check (aval).

The basis for issuing a check is an agreement between the issuer and the payer (check agreement), according to which the latter undertakes to pay the checks if the drawer has funds in the account. In pursuance of a check agreement, the payer shall issue to the drawer a check book with a certain number of checks.

Checks are divided into nominal, order and bearer. personal check non-transferable, i.e. is a non-transferable security.

Unlike a bill of exchange, a check is not presented for acceptance. Payment by check can be secured by aval. Any person, with the exception of the payer, can be an avalist. The avalist must indicate for whom he vouches.

Payment on a check presented for payment on time must be made immediately and in full. Refusal to pay a check can be certified not only by a protest, but also by a corresponding mark of the payer or the collecting bank (Article 883 of the Civil Code of the Russian Federation).

According to Art. Art. 143 and 815 of the Civil Code of the Russian Federation, a bill of exchange is recognized as a security containing a simple and unconditional obligation of the drawer (promissory note) or other payer specified in the bill (bill of exchange) to pay a certain amount to the holder of the bill upon the due date. Thus, a promissory note obligation can be characterized as an unconditional, abstract, strictly formal monetary obligation.

Any promissory note in accordance with the current legislation must be drawn up only on paper, it is not allowed to issue a bill of exchange in non-documentary form.

The regulation on a promissory note and a bill of exchange determines the mandatory details of this security. The absence of at least one of the obligatory details of the bill deprives it of legal force.

Another feature of the bill is unconditionality.

However, this does not mean that a promise or an order to pay a sum of money cannot be conditioned by any circumstances. As a rule, they are contained in the bill in a hidden or explicit form.

Payment on a bill of exchange may be secured in full or in part of the bill of exchange by means of a surety (aval). If he acts as an avalist entity, then the aval is signed by an authorized representative of this person

The acceptance by the payer of an obligation under a bill of exchange is called acceptance of the bill. A bill of exchange may be presented for acceptance by the holder of the bill or by any other person who has the bill. An acceptance cannot be made dependent on any conditions, but it can also be made in part of the bill of exchange.

The transfer of rights under a bill of exchange is carried out by making a special inscription - an endorsement.

Refusal to pay on a bill of exchange or acceptance, as well as non-payment on an accepted bill of exchange, must be certified through a special pre-trial procedure - a protest of a bill. Claims based on promissory notes contested in the above manner may be issued with a court order and enforced in accordance with the rules provided for by the Code of Civil Procedure of the Russian Federation.

A check is a security containing an unconditional written order of the drawer of the check to the bank to pay the holder of the check the amount indicated in it.

Checks are divided into nominal, order and bearer. A personal check is non-transferable, i.e. is a non-transferable security.

The holder of a check, in the event of the bank's refusal to pay the check, has the right, at his choice, to bring a claim against the check debtors (drawer, guarantors, endorsers), who are jointly and severally liable to him, and require them to pay the amount of the check, their costs for receiving payment and interest in accordance with paragraph 1 tbsp. 395 of the Civil Code of the Russian Federation.

A bill of exchange and a check are the main types of means of payment in the field of international settlement relations.

bill of exchange - it is written promissory note issued by the borrower (drawer) to the creditor (bill holder), in accordance with which the creditor is granted the right to demand from the borrower payment of a certain amount by the specified date sum of money. There are two types of bills: simple and transferable.

A bill of exchange is a written order given to the payer (drawee) to pay a certain amount of money to the first bill holder (remittent) at maturity.

The right to claim under a bill of exchange may be transferred to another person by means of an endorsement, which may be in blank (without specifying the person to whom performance is to be made) or order (indicating the person to whom or by whose order execution is to be made).

Receipt - This is a security that contains a written order from the drawer to the payer to make payment to the holder of the check in the amount of a certain amount of money.

A bill of exchange and a check have much in common: each of them is a security containing a written order for the payment of funds.

The differences between a bill of exchange and a check basically boil down to the following.

A bill of exchange may be issued to any person. At the same time, a check is issued only to a bank where the drawer has funds that he has the right to dispose of.

A bill of exchange and a check differ from each other in terms of circulation. If the term for which a bill of exchange is issued is determined at the discretion of the participants in the bill of exchange legal relationship, then the period of circulation of the check is indicated in the internal (national) legislation or in an international treaty.

to their sources legal regulation relate:

· Geneva Convention of 1930 “On a Uniform Law on Transferable and Promissory Notes”.

· Geneva Convention of 1930 “On the resolution of certain conflicts of laws on transferable and promissory notes”.

1930 Geneva Convention “On stamp duty in respect of bills of exchange and promissory notes. (Geneva bill conventions).

· Geneva Convention of 1931 “On a Uniform Law on Checks”;

· Geneva Convention of 1931 “On the resolution of certain conflicts of laws on checks”.

· Geneva Convention of 1931 "On stamp duty in relation to checks". (Geneva check conventions).

Currently, the international legal regulation of bill obligations is carried out on the basis of three legal systems:

to the first includes countries that are parties to the Geneva Conventions of Bills of Exchange ( European countries, with the exception of Great Britain and Spain, Japan, etc.);

to the second include countries recognizing Anglo-American bill legislation (Australia, Great Britain, India, Canada, Cyprus, USA, etc.);

to the third includes countries that are not part of either the Romano-Germanic or the Anglo-American legal systems(Bolivia, Venezuela, Iran, Spain, Mexico, Chile, etc.).

Anglo-American bills of exchange differ from Geneva bills in that they provide for a more simplified regulation of bill obligations: they are less “demanding” both to the form and to the content of bill documents.

The rules aimed at resolving conflicts between laws on bills of exchange and promissory notes are mainly as follows:

· A person's ability to be bound by a bill of exchange or promissory note is determined by his national law. In the event that his national law refers to the law of another country, this last law;

· the forms of obligations under a bill of exchange or promissory note are determined by the law of the country in whose territory the obligations were signed;

· the obligations of the acceptor of a bill of exchange or the person who signed the promissory note are subject to the law of the place of payment for these documents;

· the terms for filing a claim by way of recourse are determined for all persons who put their signatures by the law of the place where the document was drawn up;

· acquisition by the holder of a bill of exchange of the right of claim, on the basis of which the document was issued, is decided by the law of the place where the document was drawn up;

· the form and terms of the protest, as well as the form of other actions necessary for the exercise or for the preservation of rights under a bill of exchange or promissory note, are determined by the law of the country in whose territory the protest or relevant actions are to be committed.