As a type of bill of exchange, commercial acceptance bills have the characteristics of convenient procedures and low financing costs. They are often used as a means of payment in commercial transactions. What are the legal responsibilities of the endorser if a commercial bill is

2024/04/2905:52:32 finance 1151

Commercial acceptance bill is a type of bill of exchange . It has the characteristics of convenient procedures and low financing costs. It is often used as a means of payment in commercial transactions.

As a type of bill of exchange, commercial acceptance bills have the characteristics of convenient procedures and low financing costs. They are often used as a means of payment in commercial transactions. What are the legal responsibilities of the endorser if a commercial bill is  - DayDayNews

What are the legal responsibilities of the endorser if a commercial note is refused payment when due? See what the Negotiable Instruments Law says

However, due to the lack of a correct understanding of the legal responsibilities of bill endorsements by individual companies, and lack of understanding and familiarity with the Negotiable Instruments Law and related legal provisions, they believe that as long as the bills are endorsed by and transferred to , it has nothing to do with them. , there is a lack of correct assessment of the credit risk after the acceptance bill endorses , thus causing economic losses.

So for a commercial acceptance bill, if it is endorsed, what are the legal responsibilities of the endorser?

What are the legal responsibilities of the indorser of a commercial acceptance bill

1. If the bearer is the indorser, he has no recourse against his successors

Although the Negotiable Instruments Law does not clearly stipulate this, the provisions of Article 69 In fact, it is recognized that back-endorses : "If the holder is the drawer, he has no recourse against his predecessor. If the holder is the endorser, he has no recourse against his successor."

can be determined by the above law. It can be seen that although the law recognizes backward endorsement, it imposes two types of restrictions on the objects that the holder can pursue based on the identity of the holder:

1) If the holder who accepts the backward endorsement is the drawer, then the holder The person (the drawer of the instrument) has no recourse against any of its predecessors.

As a type of bill of exchange, commercial acceptance bills have the characteristics of convenient procedures and low financing costs. They are often used as a means of payment in commercial transactions. What are the legal responsibilities of the endorser if a commercial bill is  - DayDayNews

What are the legal responsibilities of the endorser if a commercial note is refused payment when due? See what the Negotiable Instruments Law says

2) If the holder is any endorser of the instrument, the holder has no recourse against its successors.

2. The endorser assumes the guarantee responsibility.

The endorser of the bill guarantees the acceptance of and guarantees payment according to the literal meaning.

When the bill held by the endorser cannot be accepted or cannot be paid, the endorser has the guarantee liability for the endorsee and all transaction backers to repay the bill when it is due, if the holder exercises the right of recourse. .

Article 37 of the Negotiable Instruments Law stipulates: "After the endorser transfers the bill by endorsement, he shall bear the responsibility to ensure the acceptance and payment of the bill of exchange held by his successor. When the bill of exchange cannot be accepted or cannot be paid, the endorser shall Repay the amount and fees specified in Articles 70 and 71 of this Law to the holder.”

It can be seen that the endorser’s guarantee liability cannot be exempted through agreement.

3. The endorser is one of the obligors of the bill.

The most important effect of the bill transferred by endorsement transfer is the right to claim payment of the bill, and the right of recourse when the bill is refused payment.

However, the rights originally attached to the note and related to the cause-related rights enjoyed by the endorser against the predecessor, such as the right to claim liquidated damages, etc., will not be transferred with the transfer of the rights in the note.

Warm reminder

If payment of a bill of exchange is refused when due, the holder can exercise recourse against the indorser, the drawer and other debtors of the bill. The drawer, endorser, acceptor and guarantor of a bill of exchange shall be jointly and severally liable to the holder.

As a type of bill of exchange, commercial acceptance bills have the characteristics of convenient procedures and low financing costs. They are often used as a means of payment in commercial transactions. What are the legal responsibilities of the endorser if a commercial bill is  - DayDayNews

What are the legal responsibilities of the endorser if a commercial note is refused payment when due? See what the Negotiable Instruments Law says:

The holder of the bill of exchange may exercise the right of recourse against any one, several or all of them, regardless of the order of the bill of exchange debts. When accepting commercial acceptance bills in daily commercial transactions, the credit risk should be objectively and comprehensively assessed, the acceptance should be made in a timely manner according to the time limit, and the legal rights and interests should be protected in accordance with the law to avoid losses.

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