People's Republic Of China Law Of Negotiable Instruments

Original Language Title: 中华人民共和国票据法

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People's Republic of China auction law (August 28, 2004, deputies of the 11th meeting of the Standing Committee) to deputies of the 11th meeting of the Standing Committee decided to People's Republic of China Law of bills as follows: by deleting the 75th. This decision shall come into force as of the date of. People's Republic of China Law of bills based on this decision and be modified and adjusted to the articles republished. Attachment: People's Republic of China Law of negotiable instruments (revised 2004) (May 10, 1995 adopted at the 13th session of the national people's Congress Standing Committee session on May 10, 1995, People's Republic of China announced on August 28, 2004 order of the President of the 49th, deputies of the 11th meeting of the Standing Committee adopted, on August 28, 2004 People's Republic of China 22nd President, announced that as of the date of promulgation of the
Deputies of the 11th meeting of the Standing Committee on revising People's Republic of China decision amended the Bill law) contents chapter I General provisions chapter drafts endorsement votes out of the section I section II section III d/fourth section security section fifth sixth payment section recourse third-fifth chapter, promissory notes the fourth chapter check of laws applicable to negotiable sixth legal liability the seventh chapter by-laws
Chapter I General provisions article of standardizing negotiable instrument acts, protect the legitimate rights and interests of the parties in the activities, maintaining social and economic order, promoting the development of the Socialist market economy, this law is enacted.
Article in the People's Republic of China territory activities, involving negotiable instruments of this law shall apply.
Notes in this law refers to bills of Exchange, promissory notes and checks.
Article Note activities shall abide by the laws and administrative regulations and must not harm the social and public interests.
Fourth drawer make a negotiable instrument shall be in accordance with the statutory requirements to sign the instrument and according to the Bill liability item recorded in the.
Holder of exercising the right shall, in accordance with legal procedures to sign the instrument and show notes.
Other debtors signing the instrument, according to the Bill liability item recorded in the instrument.
Rights in this law refers to the holder the right to request to the debtor the sum payable by, including the payment and the right of recourse.
The instrument in this law, refers to the obligation of the debtor to pay the bearer the sum.
Article fifth parties may authorize an agent to sign the Bill, and the agency relationship should be indicated thereon.
Without the right of Agency on behalf of an agent to sign the instrument shall be borne by the signature of the instrument; agent beyond the authorization, beyond the permissions should be part of the instrument.
Sixth without civil capacity or a person with limited civil capacity to sign the instrument, the signature is not valid, but does not affect the validity of other signatures. Article seventh signature on a negotiable instrument, an autograph, a seal or an autograph stamp.
Legal and other units using the notes in the signature on a negotiable instrument, stamped for legal persons or its legal representative or its authorized agent signature.
The signature on a negotiable instrument, the parties should be entitled.
Eighth notes denominated in the Chinese capital, and digital and documented; they must be consistent, do not agree, invalid bills.
The Nineth items recorded in the instrument must be in accordance with the provisions of this law.
Sum, date, payee name cannot be changed, change ticket is invalid.
Other particulars on a negotiable instrument, the original records may be altered, changes have to be certified by the original records who signed.
Tenth, acquisition and transfer of negotiable instruments, shall comply with the principles of honesty and credit, a bona fide transaction and debtor-creditor relationship.
Bill made, must be the corresponding price, which corresponds to the approval of both parties should be negotiable price. 11th through taxation, inheritance, gifts can be made according to law, the Bill, without the limitation of in consideration of payment.
However, the rights shall not exceed those enjoyed by their prior rights.
Hand refers to the Bill before signing or signature before the holder of other debtors.
12th notes obtained by means of fraud, theft or coercion, or knowingly to forefront of situations, negotiable instrument is obtained out of malice, shall not enjoy the right.
Ticket-holders who, by gross negligence, acquires a negotiable instrument is not in conformity with the provisions of this law, shall not enjoy the right. 13th debtors not to himself and shows a ticket or the ticket holder between his prior defense against the holder.
However, ticket holders knowingly defenses, except for the acquisition of an instrument.
Debtors for failure to fulfil a contractual obligation that directly relates to their debt holders, the anti discrimination.
Anti-discrimination in this law refers to the debtor under this law for acts Bill creditors refuse to fulfil their obligations. 14th the particulars specified on a negotiable should be true may not be forged or altered.
Forging or altering the signature on a negotiable instrument and other particulars, shall bear legal responsibility.
A forged or altered signature on the Bill, does not affect the validity of other true signatures thereon.
Other particulars on the Bill were altered, changes made before signature of the person responsible for the original items; altered after signature of the person responsible for the altered items after; can't tell is being altered before or after signature, deemed to be signed before the altered.
Article 15th loss of holder to timely notify the payer of the loss and stop payment, but the payment is not specified or cannot be determined except for bill payer or his agent who.
Payer receives notification of the loss and stop payment, should be suspended.
Holder shall notify within 3rd after the loss and stop payment or after the loss of Bill, request the people's Court according to law for exhortation, or initiate litigation to the people's Court.
16th the holder of Bill of exercising the right of the debtor, or preservation of rights should be a party to an instrument of business premises and business hours, a party to an instrument of non-business premises, should be carried out at her home. 17th rights not exercised within the prescribed period is extinguished: (a) the bearer on drawer and the acceptor of a bill of rights, from the date of maturity of 2 years.
See votes that pay of Bill, and promissory notes, since out votes day up 2 years; (ii) holding votes people on check out votes people of right, since out votes day up 6 months; (three) holding votes people on Qian hand of recourse right, since was refused to acceptance or was refused to payment of day up 6 months; (four) holding votes people on Qian hand of again recourse right, since settlement day or was filed litigation of day up 3 months.
Date of issue of the notes, due date determined by the party concerned in accordance with.
18th the holder due to the right of Bill limitation or loss of rights because of the Bills lack of particulars, and still enjoys civil rights, may request the return of the drawee or acceptor and unpaid bills amount of considerable interest.
Chapter drafts votes out of the drawer is the 19th, which is the first section issue, escrow people in sight or on a specified date to pay unconditionally the amount the payee or bearer negotiable instruments.
Bills of Exchange into bank drafts and commercial bills.
20th tickets are pointed out that ticket issued notes of the Bill and deliver it to the recipients.
21st the drawer of a bill must be a bona fide escrow payment, and pay the Bill amount of reliable sources of funding.
Bills shall not be issued without consideration to defraud banks of funds or any other party concerned.
22nd Bill must specify the following particulars: (a) that "Bill" message, (ii) an unconditional principal; (c) determine the amount of (iv) payer's name; (e) the name of the payee; (vi) the ticket date; (g) the drawer's signature.
One of the provisions of the preceding paragraph is not specified on a Bill, and Bill is not valid.
The 23rd on a bill payment date, payment, ticket and other matters, should be clear and unambiguous.
Date of payment is not specified on a Bill, as is payable.
Place of payment is not specified on a Bill, the payer's business premises, domicile or habitual residence is the place of payment.
Bill of Exchange is not recorded on the ticket, a business premises, domicile or habitual residence of the drawer is the place.
24th a Bill can be recorded votes out of the other matters other than those stipulated in this law, but the records do not have the force of a Bill.
25th date of payment may be in accordance with one of the following records: (a) is payable, (ii) day payment, (iii) when tickets are regular payment; (d) periodic payment after sight.
Date of payment specified in the preceding paragraph for maturity. After the 26th the drawer draw Bill of exchange shall bear the responsibility for the acceptance and payment.
The drawer of a bill not accepted or payment, the holder should be liquidated by the 70th, 71st, sum and expenses provided for in article.
Section II endorsement 27th bearer Bill of rights can be transferred to another person or to grant certain rights on the other.
The drawer of a Bill says "not transferable" is written, the Bill shall not be transferable.
Ticket holders when exercising the rights provided for in the first paragraph shall endorse and deliver a Bill.
Endorsement refers to the back of the Bill or on an allonge records related matters and signing bills.
28th negotiable certificates cannot meet the needs of the endorser, attached allonge attached to bills on the voucher.
Sticky first records on a form and shall draft and adhesive bonding to the list of signatures.
29th endorsement records by the indorser's signature and the date of endorsement.
An endorsement without a specified date is deemed endorsed on the Bill of Exchange due date. 30th Bill negotiated by endorsement or endorsements will grant others certain rights on the exercise, name of the endorsement must be recorded.
31st in the endorsement of the Bill, the endorsements shall be continuous.
Holder's endorsement of a succession of its Bill of rights; non-endorsement, and other legal means to obtain money orders, proof according to law, in support of its Bill of rights.
Continuous endorsement referred to in the preceding paragraph, refers to a transfer in, transfer of bills endorser and the endorsee of a bill of Exchange signed on back-to-back in turn.
Articles 32nd to negotiate the Bill, before the subsequent party shall be directly responsible for the authenticity of the endorsement.
Hand refers to the Bill signed after the signature of the other debtors. 33rd endorsement may not attach any conditions.
Any conditions attached to the endorsement, attached conditions do not have the force of a Bill.
Transfer of part of the amount payable for endorsement or transfer of the Bill of Exchange amount to two or more persons is invalid.
Article 34th indorser of a Bill says "not transferable", followed by endorsement in hand, the endorsee assumes no liability for subsequent endorsee. 35th endorsement "collections" is written, the endorsee is entitled to exercise by the endorser delegate Bill of rights.
But, by the endorsers no longer to negotiate bills of rights. Pledge of Bill of Exchange can be set; when the pledge endorsement should be the "pledge".
Endorsee right to achieve their quality in accordance with law, may exercise the rights on.
36th Bill rejected accepted, rejected, or paid or payment terms, no endorsement; endorsement, endorsers should bear the Bill of exchange liability. Endorser by endorsement of the 37th article draft, undertakes to guarantee the acceptance and payment of the subsequent responsibility.
Indorser of a bill not accepted and payment, the holder should be liquidated by the 70th, 71st, sum and expenses provided for in article.
Article 38th section III d/d/refers to the payment of pledged amounts paid at maturity draft bills.
The 39th day or at a fixed period after sight, the holder shall, prior to maturity to the drawee for acceptance.
Prompt acceptance means the holder to produce sight and requesting payment from the payer's commitment.
The 40th regular payment of Bill of Exchange after sight, the holder shall, within 1 month from the date of issue the drawee for acceptance.
Prompt acceptance of drafts in accordance with the established deadline, holder lost his prior recourse.
See draft at draft without prompt acceptance. 41st payer on the presentment of Bill of Exchange.
Shall receive prompt acceptance of bills of exchange within 3rd day of acceptance or nonacceptance. Payment receipt holder when the presentment of Bill of Exchange, should be issued to ticket holders receive a single Bill.
Receipt must specify date of presentment for acceptance and signature.
42nd the drawee shall be recorded in the front of the Bill "accepted" and the date of acceptance and sign it; see a fixed period after sight, payment date should be recorded at the time of acceptance.
Bill of Exchange is not recorded on the date of acceptance of the previously specified in the first paragraph is the last day of the date of acceptance.
Article 43rd drawee, must not attach any conditions acceptance conditional, a rejection of acceptance.
After the 44th the drawee shall bear the payment responsibility.
Fourth section ensure the 45th Bill of debt borne by the guarantor liability.
Another person to perform outside of the debtor of the guarantor by the Bill.
46th a guarantor must be recorded on the Bill of Exchange or on an allonge to the following matters: (a) that "assurances"; (b) the name and domicile of the guarantor, and (iii) the guarantor name; (d) the guarantee date; (e) the signature of the guarantor.
47th surety is not specified on a bill of Exchange or on an allonge before paragraph (c), has accepted draft, accepted being the guarantor is not accepted draft, the drawer for the guarantor.
Sponsors of a bill or an allonge is not specified on the preceding article, paragraph (d), the ticket date for guaranteed dates. 48th guarantees may not attach any conditions attached conditions, does not affect liability on the Bill. 49th surety legally acquired rights enjoyed by the holder of a bill of Exchange, assume liability.
However, the guarantor's debt due to an invalid Exchange items lack otherwise. 50th is guaranteed drafts, the surety shall bear joint and several liability to the holder and the guarantor.
Drafts do not receive payment after the expiration, the holder has the right to request payment of the guarantor, the guarantor should pay.
51st sponsorship for two or more persons, guarantee bear joint and several liability between them.
After the 52nd the guarantor the debt, can exercise the holder against the guarantee and his prior recourse.
Fifth Festival 53rd holder shall, in accordance with the following terms of payment payment: (a) payable at sight drawee for payment, within 1 month from the date of issue, and (ii) regularly day after payment, ticket payment or periodic payment of Bill of Exchange after sight, from the date of expiration of 10th in the payment to the acceptor.
Ticket holders are not in accordance with the provisions of the preceding paragraph the term for payment, after clarification, the acceptor or the drawee should continue to bear the payment responsibility to the holder.
Through entrustment with the receipt of bank or through the clearing system to the drawee for payment, equating the holder, prompt payment.
54th holder in accordance with the provisions of the preceding article prompt payment, the payer must pay on the day. 55th the holder to payment shall sign a Bill, and referred the Bill to the drawee.
The holder entrusts the Bank to collect the entrusted Bank will collect bill payment transfer holder of income accounts, treated as a sign.
56th holder entrusted the responsibility of the beneficiary's Bank, limited to follow the Bill of particulars to the sum transferred to the holder's account.
Payments authorized by the payment of Bank liability, limited to the particulars in accordance with the bill payment amount from the payer account.
57th at the drawee or his agent to pay, should review the endorsement of continuous and prompt payment of legal status or valid documents under review.
Payer or his agent a person with payment of ill intention or with gross negligence, shall bear responsibility.
Article 58th day, ticket payment after the payment or periodic payment of Bill of Exchange after sight, people pay at the due date of payment, generated by a payer to bear responsibility.
59th draft amount for foreign currency, according to the market exchange rate on the date of payment, payment in Renminbi.
Bills paid by parties to the Bill agreed by the currency, their agreement shall prevail.
The 60th payment after payment in full in accordance with law, and all the drafts of the debtor's liabilities.
Recourse to article 61st of maturity is the sixth section refused to pay, ticket holders can endorser, drawer and draft other debtors of exercising the right of recourse.
Prior to maturity, any of the following circumstances, the holder can exercise the right of recourse: (a) the Bill is dishonored; (b) the acceptor or the drawee in death, go into hiding, and (iii) the acceptor or the drawee is declared bankrupt according to law or were ordered to stop business for illegal activities.
62nd holder to exercise the right of recourse, rejected should be provided relevant proof of the acceptance or refusal to pay. Holder's prompt acceptance or payment was denied, the acceptor or the drawee must produce evidence of dishonor, or issue a refund reason book.
No certificate of grounds for refusing certificates or refund of, shall bear civil liability.
Holder in the 63rd for the acceptor or the drawee, go into hiding, or other causes of death, refused, cannot prove, you can obtain other pertinent evidence.
64th the acceptor or the drawee is declared bankrupt according to law by people's courts, the people's Court has refused to prove the effectiveness of the relevant judicial instruments.
The acceptor or the drawee was ordered to stop business for illegal activities, administrative punishment decision of the competent department concerned has refused to prove effectiveness. 65th ticket holders unable to produce refuse certificates and refund reasons provide proof of other legitimate or not in accordance with the established deadline, loss of the prior recourse.
However, the acceptor or the drawee shall be liable to the holder. The 66th holder shall receive or refuse to accept or reject relevant evidence of the date of payment in the 3rd, will be rejected by notice in writing before their hands; his prior notice in writing from the date of receipt of the notification within the 3rd one before hand.
Ticket holders can also Bill the debtor written notice. Is not in accordance with the notice prescribed in the preceding paragraph, the holder can exercise the right of recourse.
Because extension notices to his prior loss or the drawer, without notice pursuant to the provisions of the Bill of Exchange client, assuming liability for the losses, but the amount of compensation is limited to sum.
Within the time stipulated in the notice in accordance with the legal address or the agreed address by mail, the notice is deemed to have been issued.
67th notice in writing in accordance with the first paragraph of the preceding article, shall specify the main particulars of a Bill, and the Bill of Exchange has been refunded.
68th Bill drawer, endorser, acceptor and guarantor of joint and several liability to the holder.
Ticket holders may not be in accordance with the draft sequence of the debtor, for any one person, several people or all the exercise of the right of recourse. Holder of Bill of Exchange in the debtor one or more have the right of recourse to other bills the debtor can still exercise the right of recourse.
After being sued for full payment of the debt, and the holders enjoy the same rights. Holder in the 69th for the drawer, on the prior without recourse.
Ticket holders for endorser, the subsequent without recourse. 70th the holder to exercise the right of recourse, may request recourse is to pay the following amount and expenses: (a) refused to pay the sum payable, (ii) the sum payable by due date or payment date until the settlement date, the interest rates in accordance with the rules of the (iii) obtaining relevant evidence of dishonor and the fee for giving the notice.
Being sued for full payment of the debt, the holder shall surrender the Bill and the relevant evidence of dishonor, and issue a receipt of the interest and fees paid.
The 71st was after settlement by recourse in accordance with the provisions of the preceding article, can exercise the right of recourse to other bills the debtor, requests and other bills of a debtor to pay the following amounts: (a) has paid its full amount, (ii) the aforesaid amount redemption date until the redemption date of recourse, the interest rates in accordance with the rules of the (iii) the fee for giving the notice.
Exercise of the right of recourse when forced to claim the repayment of, should hand over bills and relevant evidence of dishonor, and issue a receipt of the interest and fees paid.
72nd recourse is in accordance with the provisions of the preceding two articles after full payment of the debt, its liabilities.
Chapter votes out of the 73rd promissory note the promissory note was issued, promised he would meet unconditionally paid to determine the amount to the payee or bearer negotiable instruments.
Promissory note in this law refers to a cashier.
74th drawer must have promissory note promissory note to pay the amount of reliable sources of funding, and to ensure payment.
75th a promissory note must record the following: (a) show that the "promissory note" message, (ii) an unconditional commitment and (iii) determine the amount of (iv) payee name; (v) the ticket date; (vi) the drawer's signature.
One of the provisions of the preceding paragraph is not specified on a promissory note, promissory note is invalid.
76th payment on a promissory note, tickets and other items, should be clear and unambiguous.
Place of payment is not specified on a promissory note, a business site for payment.
Is not specified on a promissory note, a business site for votes.
77th promissory notes in the drawer holder tips sight, must assume responsibility for payment.
78th promissory note with effect from the date of issue, the payment period shall not exceed 2 months.
79th holder of the promissory note is not in accordance with the provisions of article period of sight, loss of prior recourse outside of the drawer.
80th promissory note endorsement, guarantee, payment and the exercise of the right of recourse, in addition to the provisions of this chapter, chapter II of this law shall apply to the relevant provisions of the Bill.
Issue of promissory notes, in addition to the provisions of this chapter, apply the provisions of article 24th of this Act relating to bills.
Fourth chapter checks the 81st issued cheque is drawn person, commissioned check deposit Bank in sight or other financial institutions pay unconditionally the amount to the payee or bearer negotiable instruments.
The 82nd when opening a cheque account, the applicant must use the name and submit legitimate documents to prove their identity.
Open a checking account and receive a check, should have a reliable credit and deposit a certain amount of money.
When opening a cheque account, the applicant should be the reserved specimen of signature and seal.
83rd cheques may be cashed or transferred, transfer, should the check on the positive note.
84th checks must specify the following particulars: (a) indicate "cheque"; (b) the unconditional payment of delegate and (iii) determine the amount of (iv) payer's name; (v) the ticket date; (vi) the drawer's signature.
One of the provisions of the preceding paragraph is not specified on the cheque, cheque was invalid.
85th on the cheque amount can be authorized by a drawer missing, was not completed before the cheque shall not be used.
The 86th is not name of the payee on the cheque, authorized by the drawer can be completed.
Place of payment is not specified on the cheque, the payer's premises is to be made.
Check is not specified on a ticket, a business premises, domicile or habitual residence of the drawer is the place.
The drawer can be recorded on the check itself for the payee.
87th cheques issued by the drawer of the cheque amount shall not exceed the payment when the payer actual deposit amount. Drawer check amount issued exceeds its actual payment when the payment person deposit amount, for empty promises.
Ban issued empty promises.
88th the drawer of a cheque shall not be issued with the reserved specimen of signature or seal checks that are inconsistent.
89th tickets must follow a check amount issued bear the liability for guaranteeing payment to the holder.
Drawer in the paying of deposits sufficient to cover the cheque amount, shall make payment in full on the day of payment. 90th checks limited to is payable, may not otherwise be recorded the date of payment.
Payment date, the record is not valid. 91st holder shall be effective as of the date of issue within the 10th prompt payment; check for off-site use, the period for payment shall be determined separately by the people's Bank of China.
Longer than the period for payment, the payer can not to pay; payment no payment, the drawee shall still be liable to the holder responsibility. 92nd payer to pay the amount of the check in accordance with law, the drawer is no longer entrusted with the responsibility for payment, and no longer assume the liability for payment to the holder.
However, the payment excluding payment of ill intention or with gross negligence.
93rd cheque endorsement, payment and the exercise of the right of recourse, in addition to the provisions of this chapter, chapter II of this law shall apply to the relevant provisions of the Bill.
Check out the ticket, in addition to the provisions of this chapter, this law shall apply to the 14th, 26th on the provisions of the Bill.
The fifth 94th on the law applicable to negotiable application negotiable instruments law, established in accordance with the provisions of this chapter.
Negotiable referred to in the preceding paragraph, is that vote, endorsement, acceptance, warranty, payment and other acts, both in the People's Republic of China territory and in the People's Republic of China outside the Bill. The 95th People's Republic of China concluded or acceded to an international treaty with the provisions of this Act, apply the provisions of international treaties.
However, the People's Republic of China declared reservations except those on.
This method and the People's Republic of China concluded or acceded to an international treaty does not provide, can be applied to international practice.
96th civil capacity of the debtor, apply its domestic law.
Civil capacity of the debtor, in accordance with its domestic law for incapacity or restricted legal capacity and in accordance with law for the full civil capacity, and applicable law.
97th points recorded during the votes out of the Bill of Exchange, promissory notes, the application of laws of the votes.
Check out the votes of the particulars, the application of laws, by agreement of the parties or law of the applicable payment.
98th endorsement, acceptance of bills, payment and Guaranty Law of the applicable acts.
99th period for exercising the right of recourse, the application of laws of the votes. 100th instrument of the time limit, relevant evidence of dishonor, and proof of refusal period applicable law of the payment.
101th when Bill loses, the person who loses the right to be preserved programs, law of the applicable payment. Sixth chapter legal responsibility 102th article has following notes fraud behavior one of of, law held criminal: (a) forged, and variable made notes of; (ii) deliberately using forged, and variable made of notes of; (three) issued promises or deliberately issued with reserved of called signature style or seal inconsistent of check, cheat property of; (four) issued no reliable sources of Bill, and promissory notes, cheat funds of; (five) Bill, and promissory notes of out votes people in out votes Shi for false records
To defraud money or property; (vi) using other instruments, or deliberately using an expired or cancelled notes to defraud money or property; (g) payers holder with drawer, such collusion, prior to the implementation of one of the acts listed in six.
103th under any of the acts listed in the preceding article, minor, does not constitute a crime, administrative penalties in accordance with the relevant provisions of the State.
104th in Bill business of financial institutions staff negligence, violations of the provisions of this law bill granting acceptance, payment or guarantee of, the offender caused heavy losses, to constitute a crime, criminal responsibility shall be investigated according to law.
Because financial institutions staff due to damage caused to a party in the preceding paragraph, by the financial institutions and persons liable.
Payment the 105th man on sight due or payable bills, intentionally, late payments, the financial administration department fined, disciplined person who is directly responsible.
Bill payer deliberately, late payments, losses are caused to the holder, shall bear the liability for damages.
106th article other than in accordance with the provisions of this law, liable for acts in violation of the provisions of this law, cause damage to others shall bear civil liabilities according to law.
Seventh chapter supplementary articles article 107th of the calculation of the term of the provisions of this law, general principles of civil law provisions relating to the calculation period.
Monthly period, calculated on the day of the expiration month; on free day, date as the expiration date of the month.
108th format of bills of Exchange, promissory notes and cheques shall be unified.
Paper format and printing of the voucher management, stipulated by the people's Bank of China.
109th specific measures for implementation of the Bill management, formulated by the people's Bank of China, in accordance with the law, submitted to the State Council for approval before implementation. 110th article this law shall enter into force on January 1, 1996.