Promissory note: the essence of the paper, sample filling, repayment terms

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SIMPLE BILL (SOLO) ———————————————————— For Aval (bill guarantee) Issued for: ________________________________________ Signature of the avalist: _____________________________________ Date: _________________________________________________ bill for rubles ______________________ _____________________ (date , place of drawing up - (amount in figures) of the bill) Enterprise (citizen) _________________________________ __________________________________________________________ (full name and address of the drawer) Undertakes to pay the amount of money under this bill in the amount of: ____________________________________________________________ (amount in words) directly to the enterprise (citizen) ____________________ ______________________________________________________________ (full name and address of the recipient) or by his order to any other enterprise (citizen) This bill is payable within the following period:_______________ ________________________________________________________________ (upon presentation, for so much time from presentation or drawing up, on a certain day) Place of payment is: _____________________________________ (city, village etc.) Name of the position of the person signing the bill on behalf of the pre- Seal Signature of acceptance of the enterprise of the drawer _______________________ BILL OF TRANSFER (DRAFT) ___________________________________________________________________ ! For Aval! For Acceptance (bill guarantee)! (acceptance for payment) ! Who was ______________ married to? Accepted in the amount:______________ ____________________________! _____________________________! Signature of the avalist: __________! Acceptor's signature: _________ ! Date of: ______________________ ! Date: _______________________ bill for rubles ___________________________________ _______________________________ (date, place of drawing up of the century - (amount in words) Selya) I ask the enterprise (citizen) _____________________________________________ _____________________________________________________________________ (full name and address of the drawer) to pay a sum of money on this bill in the amount of: _________________ _____________________________________________________________________ (amount in words) directly to the enterprise (citizen) ____________________________ _____________________________________________________________________ (full name and address of the recipient) or by his order to any other enterprise (citizen) This bill is payable within the following period: _____________________ _____________________________________________________________________ (upon presentation, for such a time from presentation or drawing up, within a certain day) Place of payment is: _____________________________________________ (city, village, etc.) Name and address of the drawer: _______ Stamp Signature ______________________ of the drawer's enterprise Name of the position of the person signing the bill on behalf of the company ______________________

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Securities are provided to optimize the operation of a particular enterprise. Commercial and non-profit firms issue promissory notes to improve their payment and settlement policies. A formal promissory note allows the payer to obtain a deferment of the obligation. Such benefits will help overcome the temporary crisis and maintain your reputation in the market. A promissory note is especially often used.

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Classification of bills

According to their purpose, design and types of security for debt obligations, bills of exchange come in different types:

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• simple and transferable,
• external and internal,
• commodity and financial.

In addition, bills of exchange are distinguished:

Some economists believe that the main thing in a bill is the debt obligation it contains. And everything else is just partial manifestations of various forms of credit and financial operations.

General definition

A valuable form issued to certify a debt obligation is called a promissory note. This document does not confirm the validity of a specific agreement; it is a general receipt, a loan. Under a simple order, the manager undertakes to pay the holder the agreed amount. If the form is of a transferable nature (draft), then the demand for payment of funds is made by the last citizen or enterprise that owns the asset.

A bill of exchange obligation is abstract; the issuer undertakes to unconditionally fulfill the legal financial requirements of the holder no later than the date specified on the form. Early execution of the settlement is allowed if the parties reach such an agreement by mutual decision. You can sell, buy, assign debt. In fact, the obligation on a bill of exchange is strict, formal, and represents an analogue of an order.

The issuer is the person who issued the form and is recognized as the payer. If the form is simple, then the executor of the obligation is also considered the drawer; according to transfer requirements, the document is issued by the previous owner. Individuals and legal entities who have received a bill of exchange are called bill holders.

To issue a bill of exchange, the payer does not require the permission of other persons, that is, the obligation is formed on the private initiative of the executor, unilaterally. The main feature of the debt form is formality. The debt will be invalid if there is a significant defect on the paper. Only judicial proceedings can resolve the dispute, since in fact the borrowed obligation continues to exist.

Nuances of form circulation

The procedural side of bill of exchange legal relations is a complex of specific features, characteristics, and regulations for resolving controversial issues. For example, according to procedural rules, it is possible to file a protest about the early execution of a bill of exchange before the compilation of a single list by the arbitration tribunal.

The substantive and legal side of the relationship between the parties using bill forms is a set of nuances of its application that are not used in other situations. According to the terms of the form, the debtor is obliged to timely transfer funds to the bearer, despite the fact that up to this point the creditor has not fulfilled any obligations. Therefore, the form holder is relieved of the need to challenge and prove the validity of the claims.

To protect its interests, the payer has the right to operate only with those norms of legislation that are applicable to bill law. For example, presenter objections to the execution of a promissory note are allowed if significant defects are identified on it. Based on general rules and regulations, it is prohibited to object on the grounds of issuing a bill of exchange.

General civil obligations are transferred to other persons on the basis of assignment or assignment. For bill legal relations, an individual procedure is provided for replacing persons in the legal relationship - endorsement. The current holder (endorser) transfers the rights and obligations to own the bill form to another user by making a special inscription on the front or back side of the form. If there is no mark on the template, responsibility remains with the previous owner.

To protect the rights and interests of participants in the bill of exchange relationship, a guarantee system is provided - aval. Any citizen or organization has the right to vouch for the debtor, that is, assumes full or partial debt obligations. Collateral may be provided: real estate, house, equipment, etc. If the payer is unable to transfer the money on the appointed day, the guarantor will transfer it at the first request of the creditor.

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Due to the direct instructions of the Labor Code, labor relations are of a remunerative nature. Receiving timely and full wages is one of the key rights of an employee, and timely and full payment is the main responsibility of the employer. Moreover, in the case of an employee performing work, no external factors - emergency circumstances, disasters or threats of disaster (fires, floods, famine, earthquakes, epidemics or epizootics) and other cases that jeopardize the life or normal living conditions of the entire population or part of it are not must prevent the exercise of this right and obligation. Although there are still some reservations on this matter in the Labor Code of the Russian Federation.

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Document structure

The form of a promissory note is a guarantor of the property rights of the person to whom it belongs (Article 815 of the Civil Code of the Russian Federation). The form is a structured list characterizing a debt obligation. In simple terms, it is written down on a piece of paper how much one participant in the transaction borrowed from another. The possibility of repayment and fulfillment of a property obligation appears only upon presentation by the holder of the original bill of exchange.

A blank promissory note can be purchased from specialized companies, banks, and printing houses. The paper form must contain special security elements to minimize the risk of falsification. We list the basic details, the contents of which are mandatory for the sample bill of exchange:

• Name of the form (the phrase or word is written in the national language of the compiler).
• Series and number of the form in the registration inventory.
• The amount of monetary obligation in numbers.
• Address for compiling the form.
• The name of the executor who accepts the obligation to transfer money on time.
• Explanation of the amount of debt in words indicating the amount of interest.
• Name of the bearer for whom this document is issued (link to likelihood of representation).
• The deadline for fulfilling a bill of exchange upon presentation.
• The place where the debt is planned to be repaid (details to the apartment, intercom, premises or a link to the region, location of stay).
• Signatures of authorized representatives of the compiler (citizen, manager, chief accountant for enterprises).
• Printing for organizations.

What documents are attached?

The first step of an organization that intends to take out a bill of exchange loan should be for its representative to contact a bank branch, where he will receive all the necessary information, become familiar with the conditions for obtaining the loan, and the repayment period.

Next, you can make a loan application. It must indicate the purpose of the loan, the term and method of repayment of the loan, and also describe the property that will be left as collateral.

The application is signed by the manager and chief accountant. It is sealed with the seal of the organization itself. The title documents of the organization and the legal documents of the representative of the legal entity must be notarized.

In addition, the financial statements must contain a record from the bank in which the potential borrower’s current account is opened regarding the inspection by the tax authorities.

It is also necessary to provide certificates of accounts and other obligatory payments, certificates of payback and the basis for repayment of the loan, certificates of the availability of property that can act as collateral.

A significant document will be your past credit history. All these documents will influence the bank's decision regarding the loan request. Most often, the answer is prepared within two to three days.

Filling regulations

In 2020, Russian legislation does not prohibit the drawer from filling out a documentary obligation in any way: by hand or using electronic computing or printing technology. It is important to fill out all fields legibly, clearly and correctly so that the bearer does not have any problems in the future. Legally pure documents are executed without appeal. Compiling the form in electronic form is not allowed; the valuable form can exist exclusively in paper form.

There are no mandatory requirements for paper quality, presence or quantity of security elements. The payer, at his own discretion, uses signs that make the form unique, inimitable, and protected from falsification. If the form refers to an obligation of a significant size, it is worth thinking about the security of the bill against counterfeiting.

It is important to understand that bill details are required to be filled out. If one of the elements is not reflected on the paper, it will be considered invalid. In this case, the holder of the bill or the recipient of the valuable asset under the endorsement system will have to go to court to protect their interests. Such situations are fraught with negative consequences: refusal to satisfy the claim, time and financial costs.

The bill mark (the word “bill”) is a mandatory requisite of a promissory note, regardless of the language of preparation. It is necessary to correctly spell this term in a foreign language so that the meaning is not lost during translation. In relation to the monetary measurement of an obligation, it is prohibited to use natural measures and conditional values. The debt is expressed in the official currency permitted in the territory of the originator's state of registration.

For example, a promissory note secures a microloan obligation. The amount of debt in euros is written down on a piece of paper. At the time of repayment, the bearer will receive the amount of funds converted into rubles at the official exchange rate.

If the amounts indicated in figures and in words differ, then when fulfilling the obligation, the second amount indicated in words is taken as the correct one. When several inscriptions with amounts are applied simultaneously on the form, the smallest of the values ​​is taken as the truth. The frequency of payment is determined by a specific date, hour, number of days from the date of preparation or upon presentation.

Some compilers deliberately indicate inaccurate data on debt repayment in order to avoid liability and invalidate the form in the future. It is especially important to clearly indicate in the bill of exchange the place of transfer of funds in order to avoid problems with the creditor and regulatory authorities.

2.3. Accounting for bills

An enterprise wishing to purchase a bill of exchange from a bank where it is a client issues a payment order. In the “purpose of payment” column of the payment order it is indicated: “For the purchase of a bill of exchange, the maturity date ... (the period is indicated).” From the date of payment of the amount, a bill of exchange is issued.

To repay a bill of exchange, the holder of the bill must fill out an application in the prescribed form, which at the same time serves as a receipt for receipt of money under the bill.

The bank undertakes to repay the debt on the bill of exchange issued to the owner of the deposit within the established period.

The payment period for a bill of exchange, as practice shows, usually does not exceed three months. However, payment of the bill at sight is not excluded, which is agreed upon upon its issuance. In this case, the bank retains the right to demand immediate payment based on the documents submitted by the supplier.

Another option is also possible. A loan agreement will be concluded between the bank and the borrower. It stipulates the security of the loan (collateral or bank guarantee) and the amount of interest payments on it, as well as the number, denominations and terms of circulation of bills. After concluding the agreement, the bank transfers to the borrower, who pays off his obligations with creditors, a package of bills. The creditor independently disposes of the received bill of exchange: delivers it to the bank or pays it to other enterprises. The last bill holders, no earlier than the period specified in the bills, present their bill to the bank, which transfers funds to their current accounts in the amount of the bill amounts and interest on the bill, if any.

Accounting for bills of exchange in an analytical context is carried out by type of bill of exchange, paying enterprises, amounts received and drafts, and due dates of payment. Allocation in accounting of deadlines

payment is made in order to determine the economically justified amount of income for this type of securities. In addition, the time factor influences the distinction between bills of exchange into short-term and long-term financial investments, and therefore requires their separate accounting until presentation for redemption. The organization of accounting for promissory notes requires strict adherence to the main indicators that determine the essence of bill circulation. These indicators include:

-maturity date;

- the period for which the bill is issued;

— loan interest and interest rate;

— repayment amount;

— bill accounting and discount rate;

- payment on a discounted bill.

Each of these indicators has a certain meaning in the system of bill of exchange law, but the first one is the main one, since it certifies the unconditional and unconditional obligation of the debtor to pay the bill upon the maturity date. In domestic practice, most often this date is a specific number, for example, “April 20, 1995.” or a certain number of days from the date of execution of the bill, say, “30 days from the date of issue.” The option is also not excluded, indicating the number of months from the date of execution of the bill, let’s say, “2 months from the date of issue.”

In order to obtain all this information in full, the following accounting registers are opened in the accounting department of the enterprise:

— book (statement) of bills of exchange;

— book (statement) of registration of acceptance and transfer of bills;

— bill accounting card.

The registration book (statement) bill accounting card is an element of operational accounting and control of the availability of bills. It is carried out on the principle of “income - expense”. The required details of the receipt part of the book are:

— series and registration number of the bill;

— full legal address of the drawer enterprise;

— date of issue of the bill;

- full name of the drawer;

— date of repayment of the bill;

- amount of the bill;

— interest accrued on the bill amount (if they are specified in the text of the bill);

— name of the payer of the bill;

— designation of the place of payment;

number of previous endorsements (endorsements).

In the expenses part of the bill accounting book, the required details are:

— the name of the person to whom the bill is endorsed;

— date of transfer of the bill;

— number of the acceptance certificate.

In this accounting register, it is also advisable to keep records of protests against bills of exchange due to their failure to pay on time.

One of the essential aspects of normal bill circulation is the organization of ongoing monitoring of compliance with the repayment terms of bills. According to Article 70 of the Regulations on Bills of Exchange and Promissory Note, only the acceptor is liable until the expiration of three years from the date of payment of the bill. The previous participants, as well as the drawer, are exempt from it. Monitoring compliance with the payment deadline can be carried out both according to the book (statement) of the register of bills (or the list of bills is insignificant), and according to separate cards or books in which each incoming and outgoing bill is entered. According to their data, at the end of the month it becomes possible to obtain the necessary operational information about bills repaid on time, the payment period for which has not arrived, and about overdue bills.

Data on mutual settlements for each bill transaction are entered into the book (statement) for registering the acceptance and transfer of bills of exchange.

Its details are:

— serial number of registration of the act of acceptance and transfer of bills;

— full name of the legal entity transferring the bill of exchange;

— number of the power of attorney of the person transferring or accepting the bill;

— the number of bills reflected in the act;

— date of drawing up the act;

— date of issue of the act;

— an indication of through whom the act was drawn up (responsible person, accounting department of the enterprise).

Cards for accounting bills are like duplicates of fifty dollars in case of their loss. Bills received for collection or for accounting when copying them are provided with an ordinary inscription indicating the due date and place of payment. The copy of the bill of exchange indicates the registration number under which it is recorded in the books (statements) of bills of exchange. Along with this, it is advisable to enter the column “signature of the person to whom the bill is transferred.”

In the depository (if one is maintained), where bills are received after registration, storage is carried out in such a way that the management staff always has the necessary information about the state of bill circulation: accepted and unaccepted bills, bills marked “without protest” and subject to protest” or resale, bills accepted as security for a loan, local and non-resident, etc. At each stage, the payment deadline must be indicated.

The formation of accounting information in this way contributes to a more reasonable legal assessment of bills in circulation, establishing their economic reliability and, ultimately, the effectiveness of bill circulation.

The procedure for accounting for the circulation of bills of exchange is determined by letter of the Ministry of Finance of the Russian Federation dated October 31, 1994 No. 142 “On the procedure for reflecting in accounting and reporting transactions with bills of exchange used in settlements between enterprises for the supply of goods, work performed and bills of exchange issued” to account 60 “Settlements with suppliers and contractors” or account 76 “Settlements with various debtors and

creditors." The specified subaccount also reflects the accounting of accepted bills of exchange. Ultimately, in this subaccount, the drawer reflects in the balance sheet the amount of its current obligations for operations related to the movement of bills.

On analytical accounts opened for this sub-account, information is generated in the following context:

- on bills issued, the payment period of which has not yet arrived;

- on overdue bills.

In order to obtain such information, you should keep analytical records for each bill.

The formation of accounting entries with the bill of exchange by the drawer coincides with the moment of registration of inventory items:

Debit account 10 “Materials”;

Debit of account 68 “Calculations with the budget”, subaccount “Value added tax”;

Debit account 26 “General business expenses” - for the amount of interest on a commercial loan provided by the supplier;

Credit to account 60 “Settlements with suppliers and contractors”, subaccount “Bills issued”.

The entry is made according to journal order No. 6.

If the buyer of inventories accepted a bill of exchange, then it is advisable to take into account the interest for using it without payment for time outside the reporting period as a debit to account 31 “Deferred expenses” with a subsequent write-off to the accounts of production costs.

Upon the maturity date of the bills issued and the bank has been notified of the execution of this operation, an accounting entry is drawn up in the payer’s accounting:

Debit of account 60 “Settlements with suppliers and contractors”, subaccount “Bills issued”; Account credit 51 “Current account”.

The enterprise's expenses associated with the payment of amounts for services provided by the bank when delivering the bill of exchange to the bank for storage and collection are carried out at the expense of its net profit:

Debit account 81 “Use of profit”; Account credit 51 “Current account”.

The organization of accounting for bills of exchange for settlements with banks in accounting (discount) transactions provides for the maintenance of separate sub-accounts to accounts 90 “Short-term bank loans” and 92 “Long-term bank loans”, which reflect these transactions and other debt obligations with a maturity of up to one year or more one year. The holder of the bill carries out synthetic accounting of bills received in accordance with the accounting policy and method adopted by him

determining the proceeds from the sale of products (works, services), goods and other property.

If this policy is based on the method of generating revenue as products, goods or other property are shipped, work performed or services rendered, then the supplier (contractor) organizes the accounting of bills received in account 62 “Settlements with buyers and customers”, to which subaccount 3 is opened "Bills received."

In the case when the specified procedure determines the moment of revenue upon receipt of funds at the cash desk or in the current account, the entries in the accounting for receipt of the bill of exchange are recorded as the debit of account 45 “Goods shipped”. In analytical accounting for this account, it is necessary to generate the necessary information regarding the expected income in the amount of the specified interest on each bill.

The long-term presentation of a bill of exchange for redemption in the accounting of the bill holder determines the generation of income from this transaction in the full amount. In order journals Nos. II, 15 and statement No. 2 the following entry will be made:

Debit account 51 “Current account”; Credit to account 46 “Effective sales of products (work, Profits and losses”) - for the amount of interest received on the bill.

When applying the first version of the accounting policy, information on profit (income) is accumulated in the subaccount “Income on bills” of account 83 Deferred income. This income is formed in the form of the difference between the amount specified in the bill of exchange and the amount of debt for products sold, work performed or services rendered:

The buyer received 10 million rubles. products in the form of a commercial loan and issued a bill of exchange to the supplier for 11 million rubles. with repayment in 3 months.

An entry will be made in the supplier's accounting for the amount of products shipped:

Debit of account 62 “Settlements with buyers and customers”, subaccount “Damaged bills of exchange”;

Credit to account 46 “Effective sales of products (work, Settlements with buyers and customers”, subaccount “Bills received”;

Credit to account 83 “Deferred income”, subaccount “Income on bills of exchange”.

Upon receipt of funds from the buyer to repay a debt of 11 million rubles:

Debit of account 51 “Current account”: Credit of account 62 “Settlements with buyers and customers”, sub-account “Bills received”.

The amount of interest on the bill received generates the income of the bill holder:

Debit of account 83 “Deferred income”, subaccount “Income on bills”; Credit to account 80 “Profits and losses” - 1 million rubles.

The sending of a bill of exchange by one drawer enterprise to another drawer enterprise in repayment of a debt to a third remitting participant necessitates recording a number of successive business transactions for the emergence and fulfillment of mutual obligations arising from the circulation of bills of exchange.

Endorsement as an instrument of a bill of exchange can be issued in favor of any participant in the transaction, even in favor of the payer, without taking into account whether he accepted the bill or not, in favor of the drawer or any other person obligated to pay. The latter, in turn, can carry out operations to endorse the bill.

Features of use

By their legal nature, bills of exchange are very similar to bonds. The difference is that a bill of exchange is expressed in monetary terms, while a bond is a share of participation in a specific joint stock company. In addition, bonds, unlike bills of exchange, are subject to mandatory state registration.

You can simply download the bill form on the Internet absolutely free of charge and print it out on a blank sheet of paper. It is recommended that you have a lawyer fill it out. Specialized agencies will help you fill out the required form quickly and cheaply. Papers with security elements will cost the payer more.

In practice, bill forms most often accompany barter transactions, but the form can be used as collateral for a loan. The issuer issues a security and uses it as a payment instrument for any transactions. The holder has the right, by endorsement, to use this form in his own mutual settlements with counterparties, for loans and credits.

Which form to use

There is no mandatory form for use, so the enterprise decides which form to use - a special one from accounting programs (forms M-2 and M-2a, State Statistics Committee Resolution No. 71a of October 30, 1997) or one developed independently by the institution. The recorder itself in form M-3 is a document consisting of a title page and a tabular part. Information about the institution is entered on the title page, and data on issued trust forms is entered in the table.

A bill is a security!

A bill is a security document that certifies a debt obligation. This obligation is always expressed in monetary form (never in kind). Rights under the document, i.e. the right to collect debt may be repeatedly transferred to third parties. There are 2 types of bills:

• Simple - an unconditional obligation to return the amount specified in the paper within the agreed period. Essentially, it is an IOU that can be bought and sold. As a rule, it is issued by the buyer of any product in the name of the seller, who is also a creditor;
• Transferable - an order from the drawer (also called the drawer) to a second person (drawee) to pay the amount specified in the document to a third party (also called the remittor). The paper is an order to transfer a debt from one person to another. Typically, the maker, by means of a draft, obligates his borrower to pay his lender.

A promissory note is also called a solo bill and a bill of exchange is also called a draft. Both can be medium-term (3-12 months) or long-term (from 12 months).

What is a bill of exchange, what advantages and disadvantages does it have?

The term “bill” means a valuable debt security that gives its bearer the right to demand the amount specified in it.

The amount is a debt that must be repaid within a period specified in the document and where indicated in the bill itself (usually at a specific credit institution).

There are several types of bills:

• those used as promissory notes;
• those used as a means of payment;
• those that have the status of investment monetary securities.

The main advantages of a bill over other securities are the ease of its issue and circulation. There is only one point that must be taken into account in order to fulfill the terms of the agreement using a bill of exchange - first obtain the consent of the counterparty.

The bill allows the parties to make payments without using funds and provides the right to defer payments; and in some cases allows you to minimize taxation.

An important advantage is the absence of fines and penalties for transactions after the issuance of the bill.

Along with these indisputable positive aspects, bills of exchange also have some disadvantages:

• lack of real material security of the bill and guarantee for receipt of funds;
• If the case goes to court, collection of the debt on the bill of exchange may continue for one year or more.

Sample promissory note.

A bill of exchange is just one type of debt obligation. In order for an obligation to be regulated by bill of exchange law, it must be drawn up in a form specified by law. In order to comply with all the requirements, the easiest way is to buy bill forms. Both the solo bill and draft must contain the following details:

1. The name of the document is a bill. It must be in the same language as the main text. 2. Name of the enterprise or full name of the payer, if a draft is drawn up. 3. An unconditional obligation to pay the specified amount. 4. Payment term. The details may be indicated as a specific date, or may be expressed as a time period from the date of preparation or the date of presentation. If the term of the bill is not specified, then the paper must be redeemed upon sight. The due date line may also contain a corresponding instruction - repay upon presentation. 5. Place of payment. If this line is not filled in, then the place of payment is considered to be the location or place of residence of the payer, as well as another place entered next to the payer’s details. 6. Name or full name of the payee and/or drawer. 7. Date of preparation of the paper. 8. Place of compilation. If it is not reflected, then it is considered to be the address of the drawer or another address indicated next to the drawer. 9. Signature of the drawer. If the paper is issued by a legal entity, then only the signature of the manager is required. However, if the chief accountant’s signature is still there, then it has the force of a guarantee.

Such familiar details as a company seal are not required, even if there is space for a seal on the form.

Despite the strictness of the requirements, the bill of exchange is not a SSO (strict reporting form), as a result, you can download the bill of exchange forms (for example, on our website at the end of this article), and not just buy ready-made ones.

Buy a promissory note form

A selection of the most important documents upon request (regulatory acts, forms, articles, expert consultations and much more). Decree of the Government of the Russian Federation of September 26, 1994 N 1094 (as amended on December 27, 1995)

Appendix No. 1 Information letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated July 25, 1997 No. 18 “Review of the practice of resolving disputes related to the use of bills of exchange in economic circulation” 2.

A promissory note is recognized as properly executed if the requirements of Article 75 of the Regulations on bills of exchange and promissory notes are met when drawing it up.

Companies submit 2-NDFL certificates for the year no later than April 1.

2 tbsp. 230 of the Tax Code of the Russian Federation). These are Russian organizations, individual entrepreneurs, notaries engaged in private practice, lawyers who have established law offices, separate divisions of foreign firms on the territory of the Russian Federation, from which the personal income tax payer received income (clauses 1 and 2 of Article 226 and clause 1 of Article 24 of the Tax Code of the Russian Federation ).

Registering a debt receipt with a notary is a mandatory action if the debt exceeds the minimum wage by 10 times.

If you lent money against a receipt and did not have it certified, and later did not receive your money back, then getting it back through the court will be extremely difficult. When lending money, you should temporarily forget about moral standards and familiarize yourself with the rules of the law. A promissory note for receipt of money is a simple bill of exchange that does not have a statutory form and can be filled out arbitrarily.

When choosing a promissory note form in our online store, we recommend that you pay attention to: security of the paper. From us you will buy promissory note forms on secure paper with watermarks and on paper with an increased degree of security (5 degrees) with a watermark, which contains visible and invisible security hairs that fluoresce in different colors in UV rays.

Read more about this paper in the section Paper with a “Chain” watermark.

Paper density 100 g/m2. The degree of protection of a promissory note form The degree of protection of a promissory note form is largely determined by the complexity and multiplicity of security graphics elements applied to it (guilloche, moiré, iris roll, etc.). Read more about protection in the section Degrees of document protection; presence of a number on the form. The bill form can be with or without a number.

We invite you to read: Taxes upon inheritance of an encumbered apartment according to the law

2 Review of the practice of resolving disputes related to the use of bills of exchange in business transactions (Appendix to the Information Letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated July 25, 1997 N 18)).

Deal Guide. Use of bills of exchange in payments for goods (works, services).

Supplier (contractor, performer) Receipt of the buyer's (customer's) bill of exchange before the shipment of goods (work, services) does not indicate the receipt of an advance in non-monetary form, since such a bill of exchange represents only a monetary obligation of the buyer (customer) (clause.

• paper security From us you will buy forms of promissory notes on secure paper with watermarks and on paper with an increased degree of security (5 degrees) with a watermark, which contains visible and invisible security hairs that luminesce in different colors in UV rays.
  Read more about this paper in the section Paper with a “Chain” watermark.
• The degree of protection of a promissory note form The degree of protection of a promissory note form is largely determined by the complexity and multiplicity of security graphics elements applied to it (guilloche, moiré, iris roll, etc.).
• presence of a number on the form The bill form can be with or without a number.
  The number on the form is usually applied with special magnetic paint and its presence makes the bill unique.

Bill of sale agreement.

A bill of exchange is often supported by a contract. Drawing up a contract is not necessary. The legislation does not require this. The paper will be valid without it. However, judicial practice suggests that the contract is important and can influence the court decision in controversial cases.

It should be understood that paper sold many times cannot be protested on the basis of the contract, i.e. The signatures on it (endorsement) have legal force regardless of the contract. Thus, if the recipient of the bill made payment by bill of exchange, then it cannot be canceled on the basis of the absence of an agreement or its recognition as invalid.

As a rule, paper is issued as security for any transaction, i.e. has a commercial cover. A paper that does not have a cover and is based only on a purchase and sale agreement is called a bronze bill.

Under certain circumstances it may be invalidated. But a purchase and sale agreement drawn up in addition to the commodity transaction will be a good tool.

With its help, you can regulate a number of aspects that are not reflected in the paper itself, as well as protect yourself from an unscrupulous partner who may refuse obligations. It will be much easier to prove the validity of a bill backed by an agreement.

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The act of accepting the transfer of a bill of exchange.

In addition to the contract, if one was drawn up, an acceptance certificate is attached. The act also indicates the basis for the transfer of paper. For example, if an agreement is concluded between legal entities, then it must be compensated. The gift of a bill of exchange from one commercial organization to another is not permissible by law.

The act, as well as the contract, is protection from unscrupulous partners with whom settlements are made with bills of exchange, especially if these obligations are difficult to support with other documents.

Filling out a bill

Goods and services cannot be the subject of an obligation arising from a bill of exchange.

4. The name of who must pay (payer).

In a promissory note, this detail is absent, since in it the payer is the drawer himself.

Both individuals and legal entities can act as payers.

The legislation allows the issuance of bills of exchange “for oneself”.

“A bill of exchange “to oneself” is a bill of exchange in which the drawer appoints himself as the payer, that is, in fact, a simple bill of exchange issued in the form of a bill of exchange.

5.

Protest of a bill for non-payment.

A bill of exchange is a formal (notarial) demand for payment. If the debtor has not repaid the obligations under the paper in a timely manner, then it must be protested within a certain time frame.

This procedure allows the holder to exercise his rights. Violation of deadlines, as well as failure to comply with a protest, entails loss of the right to repayment. The payer of the protested document can pay off the debt voluntarily, after notification by the notary.

In case of non-repayment, the holder of the bill may collect the debt in court, taking into account interest for the use of funds during the period of delay, penalties and compensation for collection costs.

Additionally, the bill of exchange may be accompanied by a protest in non-acceptance or in undated acceptance. Only a notary can carry out a protest on the territory of the Russian Federation.

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Promissory notes of Sberbank of Russia.

In recent years, the Russian bill market has consisted mainly of bank securities. The leader, of course, is the country's largest bank, Sberbank. “Financial” bills of the SB of the Russian Federation are an attractive instrument that allows you to receive income from available funds.

The security bill is characterized by stable quotes. Profitability here depends little on the market situation, which traditionally consists of political and macroeconomic information.

If it is purchased from a reliable company, then the risk of losing money is minimal. The reliability of SB as a bank with state participation makes investments low-risk.

In addition, the security is issued by Sberbank on secure forms. The bank has a database of bills of exchange that allows the purchaser of the paper from a third party to verify its authenticity.

Watch the video: What is a bill of exchange and how to use it?

How to fill out a promissory note sample

Endorsement (from Latin in - “on”, dorsum - “back”) is a transfer signature in a security (bill, check, bill of lading), which confirms the circulation of absolutely all rights, or a number of rights, according to this important document to another person. Endorsement of a bill of exchange is a text on the back (or in an additional sheet, allonge) of a bill of exchange, check or other security, confirming the circulation of authority under this important document from the 1st person, or otherwise.

An endorser is a person who transfers an obligation to its new bill holder (endorser) in accordance with the means of endorsement, which the principal person confirms in the delivery note in the bill of exchange. The completion of an endorsement in a bill of exchange is likely in such a case that the powers, according to this security, have switched from the previous owner (endorser) to the new one (endorser).

All transitional holders of a bill of exchange bear joint and several obligations exactly on the bill of exchange, along with the drawer of the bill of exchange.

However, when making an endorsement and indicating “without recourse to me,” the guarantor is able to avoid this.

What is aval promissory note?

The payment obligation has the right to require a guarantee. In bill transactions this aspect is called aval. The avalist can be a financial institution represented by a bank or another person who guarantees the payment. In this case, it is not necessary that the avalist be directly related to the obligations of the document. A promissory note or other types of agreement may formulate this aspect as a promissory note guarantee

The annex to the bill of exchange agreement, where the order of the avalist should be described, is called an allonge. The position of the avalist can also be indicated by direct inscription on the bill form itself. If an allonge is drawn up, it must contain the following information:

• For whom is the payment guarantee issued?
• Place and date of document generation.
• Signatures of participants: these are usually the first persons of the financial institution and their seals.

Upon signing this document, responsibility for payments is divided equally between the avalist and the person for whom the guarantee is issued. The provision on a promissory note in the bill of exchange legislation states that if the payment is repaid by the avalist alone, then the bill of exchange rights and all its consequences are transferred to him unconditionally.

The practical benefit of avalization is that the procedure increases the reliability of such documents. It can be used in cases where the creditor has doubts about the integrity of the debtor. In such cases, the creditor has the right to demand additional guarantees from those organizations that he trusts. Valuation is applicable to simple and transferable types of bills. It may concern the entire payment amount or part of it.

Dishonor bills

If the acceptor of the bill fails to pay the bill when due or refuses to pay it, it is called a dishonored bill. As proof of the dishonor of the bill, the payee may obtain a certificate from a notary appointed by the government for the purpose. The Notary charges some fees in this regard, which are called “ Notification Fees.”

».

The following entries will take place in the books of Box and Dravi -

If the account is kept in the Box until the maturity date

–

Client/Acceptor A/C Dr (with total invoice amount + inclusive of fees)

To bills receivable (with the amount of bills receivable)

Cash/Bank (subject to fees paid)

(Being bills receivable, dishonored and marked payment)

If the bank account is impaired

–

Client/Acceptor A/C Dr (with total invoice amount + inclusive of fees)

To bank A/c (with total invoice amount + inclusive of fees)

(Being discounted, accounts receivable are dishonored and mark payment)

If the invoice is confirmed by the Box in favor of the Lender

–

Client/Acceptor A/C Dr (with total invoice amount + inclusive of fees)

To Lender A/c (with total invoice amount + inclusive of fees)

(Be approved of bills receivable, dishonor and mark payment)

In all the above three cases, the acceptor will miss only one log entry

–

Bills Payable A/c Dr (with Bills Payable Amount)

Noting A/C Dr expenses (including fees)

To Box/Lender A/c (with invoice total + inclusive of fees)

(Purchase of goods on credit)

Promissory note in practice

The overwhelming majority of bills in Russia belong to Sberbank. There are real reasons for this. It is Sberbank that holds about 70 percent of all household deposits. And of the deposits of legal entities it takes up 5 percent of the total volume. Possessing such data, the main bank of the country practices bill lending to legal entities and issues discount bills.

Simple, transferable, multi-currency and interest-bearing bills are available in circulation. A promissory note from Sberbank is accepted in any region of the country in the regional branches of this bank. Its primary task is to accelerate the turnover of funds between entities.

Advantages of bills and promissory notes

Following are the important benefits of bills and promissory notes −

• Simplifying credit transactions helps increase business size.
• Both are proof of purchase of goods or services on credit.
• Being a legal document, both can be produced in court in case of dishonor.
• Since the payment date is fixed, it is beneficial for both debtors and creditors; and they can manage their payment schedule accordingly.
• If urgent payment is required, the lender can obtain a bank account at a discount.
• Being a negotiable instrument, a promissory note is easily transferable from one person to another.

Simplifying credit transactions helps increase business size.

Both are proof of purchase of goods or services on credit.

Being a legal document, both can be produced in court in case of dishonor.

Since the payment date is fixed, it is beneficial for both debtors and creditors; and they can manage their payment schedule accordingly.

If urgent payment is required, the lender can obtain a bank account at a discount.

Being a negotiable instrument, a promissory note is easily transferable from one person to another.

Features of a bill of exchange of an individual

The bill, as a state-issued security, is delivered to commercial banks through the central bank of the state. And already in commercial banks, bills of exchange can be purchased by legal entities and individuals. Only persons who have special certificates for carrying out such operations can sell blank bills.

In accordance with current legislation, only banks can issue bills of exchange in Russia. But individuals can purchase them at banking institutions. To fill out the bill, you need the help of a specialist. Otherwise, the bill may be invalidated. That is why individuals fill out a bill of exchange in banks, observing all the necessary details.

In many cases, the use of bills of exchange by individuals allows them to reduce the tax burden, arrange payment of income taxes in installments, or defer their payment. Individuals can use bills of exchange for donation, sale, or exchange. The use of a bill of exchange is facilitated by the fact that the holder of the bill is not required to prove the origin of the bill in court. Therefore, a bill of exchange can also be used in settlements between individuals - to convey the right to receive debts or to pay for the receipt of goods without attracting fixed capital.

Such a wide range of applications for bills of exchange is very beneficial for private entrepreneurs, as it allows them to quickly resolve many credit and financial issues promptly, without unnecessary bureaucracy.

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Difference between bills and promissory notes

Atypical types of bills

Any financial instrument can be used for dishonest purposes. Bills of exchange are no exception to this. But in this case there is a certain paradox. Bill of exchange legislation mentions such types of bills as bronze or friendly. They differ in that the recipient of the debt on the bill is a fictitious person. The scheme is simple: two parties, by prior agreement, issue bills of exchange and provide these documents to financial institutions for various purposes.

Both types of bills have no real financial relationship. Despite this, it will be very difficult to prove in court that this method is fraudulent, since bill of exchange legislation allows this use case. These types of bills are prohibited for circulation in many countries.

A more practical option is bills of exchange for friends and relatives, which are often used in the West. This document has full legal force and can be used to transfer debt obligations to your loved ones. In this case, filling out a promissory note is carried out in any order and does not require notarization.

Contents of transferable bills of exchange

The translation type follows the following structure:

• Document's name. The type is not specified.
• Arbitrary wording about the purpose of the document: who needs to pay for it and how much.
• Payer's initials.
• Determining the payment date.
• Where should the payment be sent?
• To whom should the funds be addressed?
• Date and place of document preparation.
• Holder's signature.

This is the difference between bills of exchange and promissory notes. What this document looks like will be discussed below. Considering the financial and legal importance of this type of securities, the procedure for their circulation is regulated at the federal legislative level. Next, each point will be considered from the point of view of laws.

Document appearance

The fact that a bill of exchange is, in simple words, a transferred obligation has already been understood. In the same regulations, where the bill of exchange was officially recognized as a financial instrument, clear requirements are given for other parameters. Thus, its main difference from other securities is the indication that this is a bill of exchange. Information about the transferor and who is receiving is also required. The difference in the preparation of the two types of documents is that the bill of exchange indicates the person obligated to repay the debt.

It is imperative to take into account: if the person repaying the debt is not specified, then the document loses its status.

A promissory note, due to its functionality, contains several clauses. They are as follows:

• If the document does not indicate the addressee for the debt, then by default this place is considered to be the address of the debtor.
• If you forgot to indicate the place of formation of the document, then it is considered that it was drawn up at the place of residence of the holder of the bill.
• If a specific date for repayment of the debt is indicated, then you should obey it. If not, then the debt should be repaid upon receipt of the bill in the hands of the recipient.

What kind of paper should a sample promissory note use? Previously, forms issued by the State Sign of the USSR were used. They contained special watermarks and other methods of protection against counterfeiting. This form was in use until the 1990s. The forms were strictly controlled and their appearance was easily recognizable. Currently, the Promissory Note Act allows the use of plain paper.