DOCUMENT COLLECTIONS
INTERNATIONAL PAYMENT
Ho Sy An
Copyright 2011 by HO SY AN
1.LAW TRANSFER TOOLS
2.GENEVA ON THE HIGHEST LAW DRAFTS AND ANY FORM 1930 (ULB 1930)
3.RULES OF UNIFIED COLLECTION (URC 522)
4.BANK STANDARD PRACTICE TO CHECK INTERNATIONAL DOCUMENTARY LETTER OF CREDIT ISSUED BY NUMBER 681 (ISBP ICC 681-2007)
5.RULES AND PRACTICE FOR THE BEST DOCUMENTARY CREDITS (UCP-ICC 600-2006)
® - GOOD LUCKY-®
LAW TRANSFER TOOLS
Chapter I: General Provisions
Article 1.Scope of Application
This Law regulate relations of negotiable instruments in the issuance, acceptance, guarantee, transfer, pledge, collection, payment, claim, lawsuit. Negotiable Instruments Law contains provisions in the bill of exchange, promissory notes, checks, negotiable instruments, other than long-term debt issuers to raise funds on the market.
Article 2.Objects of Application
This law applies to organizations and individuals in Vietnam, organizations and individuals involved in foreign relations of negotiable instruments in the territory of the socialist Republic of Vietnam.
Article 3 -Establishments issued a negotiable instrument
1. The drawer, issuer of the negotiable instruments issued on the basis of trading goods or providing services, lending between institutions and individuals with each other, lending transactions of credit institutions organizations and individuals trading and transaction settlement given according to law.
2. Relations negotiable instruments specified in this law independently, regardless of the underlying transaction issuing negotiable instruments specified in paragraph 1 of this Article.
Article 4 -Definitions
In this Law, the following terms are construed as follows:
1. Negotiable instruments are valuable papers note the payment order or commitment to unconditionally pay a specified sum of money at a certain time.
2. Bills of exchange is valuable papers from a drawer, requiring the drawee to unconditionally pay a specified sum of money upon demand or at a certain time in the future to the beneficiary.
3. Promissory note is a valuable paper by issuers committed to unconditionally pay a specified sum of money upon demand or at a certain time in the future to the beneficiary.
4. Czech valuable papers from a drawer, ordered the drawee is a bank or an organization providing payment services licensed by the State Bank of Vietnam to deduct a certain amount from your account to pay to the beneficiary.
5. Drawers are those that make and issue bills of exchange or checks.
6. The drawee is the person responsible for payment of the amount stated on the bill of exchange, checks the order of the drawer.
7. The acceptance of the drawee after signing the bill of exchange accepted.
8. The beneficiary is the owner of a negotiable instrument as one of the following persons:
a) The payment amount stated on the negotiable instrument under the designation of the drawer or issuer;
b) The transferee of a negotiable instrument in the form of transfer specified in this Law;
c) The lien is a negotiable instrument payable to the lien.
9. The issuer is up and issue promissory notes.
10. The person concerned is engaged in a negotiable instrument relations by signing a negotiable instrument as a drawer or issuer, the acceptor, the transferor and guarantors.
11. The collection is a bank, an organization providing payment services, licensed by the State Bank of Vietnam service collection of negotiable instruments.
12. Released as the drawers or issuers, registration and transfer tool first transfer to the beneficiary.
13. Transfer is the beneficiary of ownership transfer of negotiable instruments for the transfer in the form of transfer specified in this Law.
14. Discounts negotiable instrument is the credit institution to buy a negotiable instrument from the payee before maturity.
15. Rediscount of negotiable instruments is the State Bank of Vietnam, credit institutions acquired a negotiable instrument held or other credit discount before maturity.
16. Accept the commitment of the drawee to pay all or part of the amount stated on the bill of exchange payment when due acceptance by signing the bill of exchange under the provisions of this Law.
17. Central clearing of checks that the State Bank of Vietnam or other organizations of the State Bank of Vietnam allowed to organize and chair the exchange and clearing checks and settlement of financial obligations arising from the clearing of checks to members are banks, organizations providing payment services licensed by the State Bank of Vietnam.
18. The signature is the hand-written signature on a negotiable instrument of the authorities and obligations of a negotiable instrument or a person authorized under the law.Signature of representative of the organization on a negotiable instrument must be accompanied by the seal.
19. Public relations is a negotiable instrument relations between organizations and individuals in the issuance, acceptance, guarantee, transfer, pledge, collection, payment, claim, lawsuit on negotiable instruments.
Article 5.Application of the Law of Negotiable Instruments and related legislation
1. The parties to negotiable instrument relations must comply with this Law and relevant laws.
2. Based on the principles of this Law, the Government shall specify the application of this law to other negotiable instruments.
Article 6.Application of treaties and customary international trade in a negotiable instrument relations involving foreign
1. In the case of treaties that the socialist Republic of Vietnam is party contains provisions different from the provisions of this Law shall apply the provisions of international treaties it.
2. In the case of a negotiable instrument relations involving foreign parties to negotiable instrument relations agreed to apply commercial practices to international practices, including uniform rules on documentary credits, Uniform Rules for Collection of the International Chamber of Commerce and the international trade practice under the relevant provisions of the Government.
3. In the case of negotiable instruments issued in Vietnam and it is accepted, guarantees, assignment, pledge, collection, payment, claim, lawsuit in another country is a negotiable instrument must be under the provisions of this Law.
4. In the case of negotiable instruments issued in other countries but is accepted, guarantees, assignment, pledge, collection, payment, claim, lawsuit in Vietnam, the acceptance, guarantee, transfer assignment, pledge, collection, payment, claim, petitioner shall comply with the provisions of this Law.
Article 7.The term relating to negotiable instruments
1. The period for payment, notice period claim and the statute of limitations when there is a dispute about the relationship of negotiable instruments, shall include holidays and weekends; if the last day falls on a day of term holidays, weekends, the last day of the period of the next working day after holidays or weekends there.
2. The duration of each payment of negotiable instruments issued by issuers to identify and record on a negotiable instrument in accordance with the provisions of this Law.
3. Time limit recourse notice, the statute of limitations when a negotiable instrument is denied or refused to accept payment made under the provisions of Article 50 and Article 78 of this Law.
Article 8.The amount paid on negotiable instruments
The amount paid on negotiable instruments must be recorded in figures and words.
Article 9.Negotiable instruments payable in foreign currency
1. Tools transferred in a foreign currency are recorded in accordance with the law on foreign exchange management.
2. Negotiable instruments payable in foreign currency as stipulated in Clause 1 of this Article shall be paid in foreign currency when the final beneficiaries are allowed to collect foreign currency in accordance with the law on foreign exchange management.
3. Negotiable instruments payable in foreign currency but the final beneficiary is not allowed to receive foreign currency in accordance with the law on foreign exchange management, the amount on the negotiable instrument is paid in Vietnam dong exchange rate by State Bank of Vietnam announced at the time of payment or foreign exchange rates of banks to make payments at the time of payment, in case the bank shall payment.
Article 10.Language on negotiable instruments
Negotiable instruments must be made in Vietnamese, except for a negotiable instrument relations involving foreign elements shall be negotiable instruments can be made in a foreign language as agreed upon by the parties.
Article 11.Enough signatures obligation
1. Negotiable instruments must be signed by the drawer or issuer.
2. The only relevant obligations under a negotiable instrument if the negotiable instruments or additional sheet signed by the persons concerned or a related person who is authorized as drawer, issuer, the acceptor, the transferor or the sponsor.
Article 12.Forged signature, the signature of the person not authorized
When the negotiable instrument is forged signature or signatures of persons not authorized signature is not worth it; signed by the relevant other negotiable instrument is valid.
Article 13.Loss of negotiable instruments
1. When a negotiable instrument is lost, the beneficiary must immediately notify in writing the drawee, drawer or issuer. The beneficiary must notify the case of loss of negotiable instruments and shall take responsibility before law for the truthfulness of the message. Beneficiaries may take notice of negotiable instruments by telephone and other direct forms if the parties agree.
Where the lost negotiable instrument is not the beneficiary must notify the beneficiary.
2. Where a negotiable instrument has not lost its maturity, the beneficiary may request the issuer or redistribute the drawer of a negotiable instrument with the same content with a negotiable instrument to replace the lost when the beneficiary was notified of the negotiable instrument is lost and a written commitment to pay for the drawee or issuer if the negotiable instrument has been reported missing was the beneficiary of legal requirements presented for payment.
3. When you have received notice of a negotiable instrument is lost as prescribed in Clause 1 of this Article, the issuer and the drawee is not paid it a negotiable instrument. The inspection and control of a negotiable instrument is reported lost comply with the provisions of the State Bank of Vietnam.
4. Where a negotiable instrument has been abused take payment prior to the drawee or issuer receives notice of a negotiable instrument is lost, the drawee or issuer is not liable if comply with the inspection and control of their own and pay a negotiable instrument under the provisions of this Law.
5. The drawee or issuer is liable for damages to the beneficiary if the payment of a negotiable instrument after receiving notice of a negotiable instrument is lost.
Article 14.Damage negotiable instruments
1. When a negotiable instrument is damaged, the beneficiary may request the drawer or issuer issuing the negotiable instrument with the same content instead.
2. The drawer or issuer is obliged to issue the negotiable instrument, after receiving a negotiable instrument is damaged if this is not a negotiable instrument matures and enough information or evidence tool for people with damaged beneficiary is legally negotiable instruments.
Article 15.The prohibited acts
1. Counterfeiting of negotiable instruments, repair or erase elements of a negotiable instrument.
2. Knowingly transfer or transferred or presented for payment of negotiable instruments being counterfeited, are modified, erased.
3. Sign negotiable instruments ultra vires or forged signatures on negotiable instruments.
4. Transfer of negotiable instrument known as a negotiable instrument is overdue or has been denied approved, denied or payment has been reported lost.
5. Intentional release of a negotiable instrument when not afford the payments.
6. Knowingly issuing checks after authorities stopped issuing checks.
Chapter II: Bills of exchange
Section 1: RELEASE bills of exchange
Article 16.Contents of bill of exchange
1. Bills of exchange are the following:
a) The term "Bills of exchange" is written on the front of the bill of exchange;
b) To request an unconditional payment of the amount determined;
c) Term of payment;
d) place of payment;
e) Name of organization or the full names of individuals and address of the drawee;
e) Name of organization or the full name of individual beneficiaries of the drawer is indicated demand for payment or bill of exchange by order of the beneficiary or to demand payment for bills of exchange the lien;
g) Location and date;
h) Name of organization or the full names of individuals, address and signature of the drawer.
2. Bills of exchange have no value if one of the contents prescribed in Clause 1 of this Article, except the following cases:
a) The time limit for payment is not recorded on the bill of exchange bill of exchange shall be paid immediately upon presentation;
b) The place of payment is not recorded on the bill of exchange bill of exchange will be paid at the address of the drawee;
c) Place the drawer is not specified on the bill of exchange bill of exchange shall be considered a drawer at the drawer.
3. When the amount on the bill of exchange is recorded by some other amount in words the amount stated in words is worth paying. In case the amount on the bill of exchange is recorded twice or more letters or numbers and have different amounts smallest value in words is worth paying.
4. In the case of bills of exchange do not have enough room to write, bill of exchange may have an additional sheet attached. Additional sheet is used to record the contents of the guarantee, transfer, pledge collection. The first person to set up additional sheet attached additional sheet with bill of exchange and sign the adjoining space between the side sheets and bills of exchange.
Article 17.The obligation of the drawer
1. The drawer is obliged to pay the amount stated on the bill of exchange for the beneficiary when the bill of exchange accepted or rejected payment rejected.
2. Where the transferor or the sponsor has a bill of exchange payment to the beneficiary after the bill of exchange accepted or rejected payment rejected, the drawer is obliged to pay the transfer or surety amount stated in the draft it.
Section II: ACCEPTANCE bill of exchange
Article 18.To present a bill of exchange to accept requests
1. The beneficiary must produce a bill of exchange to accept requests in the following cases:
a) The drawer had written on the bill of exchange that this bill must be presented for acceptance requirements;
b) Bills of exchange are stated payment terms as stipulated in Point b, Clause 1, Article 42 of this Law to be presented to demand acceptance, within one year from date of issue.
2. The presentation of the bill of exchange to accept the request is considered valid when the bill of exchange is the beneficiary or the legal representative of the beneficiary of the payment right places, the working time of and drawee is not overdue.
3. Bills of exchange can be presented for acceptance in the form of mail via the public postal network. On the bill of exchange presented for acceptance in this case is calculated on the postage stamp to send mail.
Article 19.Time limit for acceptance
The drawee shall accept or reject a bill of exchange within two working days from the date of bill of exchange is presented, in case the bill of exchange is presented in the form mail via the public postal network, this duration is calculated from the date of confirmation drawee received a bill of exchange.
Article 20.Violations of the obligation to present a bill of exchange to accept requests
When the beneficiary does not produce a bill of exchange as prescribed in Clause 1 of Article 18 of this Law, the drawer, transferor and guarantors of these people have no obligation to pay the bills of exchange, except guarantor for the drawee.
Article 21.The form and content acceptable
1. The drawee shall accept bills of exchange by writing on the front of the bill of exchange the words "accept", the date of acceptance and its signature.
2. In cases where only accept part payment amount stated on the bill of exchange, the drawee must specify the amount allowed.
Article 22.The obligation of the acceptor
After accepting a bill of exchange, the acceptor is obliged to unconditionally pay the bill of exchange accepted by the contents of the beneficiaries, who paid the bill of exchange under the provisions of this Law.
Article 23.Rejection
1. Bills of exchange is considered to be denied acceptance if the drawee is not acceptable within the provisions of Article 19 of this Law.
2. When a bill of exchange declined to accept in whole or in part, the beneficiaries have immediate recourse to the transferor before her, drawer or guarantor under the provisions of Article 48 of this Law .
Section III: Guarantees a bill of exchange
Article 24.Guarantee for bill of exchange
Guarantee for bill of exchange is the third person (hereinafter referred to as guarantor) with the guarantees will pay all or part of the amount stated on the bill of exchange has become due if the the guaranteed non-payment or insufficient payment.
Article 25.Form of guarantee
1. The bill of exchange guarantee made by the sponsor with the phrase "guaranteed", guaranteed amount, name, address and signature of the guarantor and the guaranteed names on the bill of exchange additional sheet or on a bill of exchange.
2. In the case of bearer guarantee the guaranteed, the guarantee shall be considered as guarantees for the drawer.
Article 26.Rights and obligations of the guarantor
1. The guarantor is obliged to pay a bill of exchange has the correct amount of guarantee, if the guarantor fails to perform or not perform fully its obligations to pay a bill of exchange matures.
2. The guarantee only the right to cancel the guarantee in case the bill of exchange is not required all the contents prescribed in Article 16 of this Law.
3. After the implementation of the guarantee obligation, the sponsor may receive the guaranteed rights for those involved, handling of security assets to be guaranteed and may request the guaranteed , drawer, acceptor associated payment obligations guaranteed amount paid.
4. The bill of exchange guaranteed by credit institutions shall comply with the provisions of this Law and other provisions of law relating to bank guarantees.
Section IV: Assignment of bills of exchange
Article 27.Form of bill of exchange transfer
The beneficiary transfer the bill of exchange in one of the following forms:
1. Signed transfer;
2. Transfer.
Article 28.Bills of exchange are not transferable
Bills of exchange are not transferable if the bill of exchange with the phrase "not transferable", "no transfer", "do not pay as ordered" or other phrases with similar meaning.
Article 29.Transfer principle
1. The transfer of a bill of exchange is the transfer of the full amount indicated on the bill of exchange. The transfer of the amount stated on the bill of exchange has no value.
2. The transfer of bills of exchange for two or more persons not of value.
3. The transfer by signing a bill of exchange is transferred unconditionally. The transfer is not recorded on the bill of exchange add any content other than conditions prescribed in Article 31 of this Law. Any conditions attached to the signed transfer of no value.
4. The transfer of a bill of exchange is the transfer of all rights arising from the bill of exchange.
5. Bills of exchange are overdue or have been denied acceptance or payment has been denied shall not be transferable.
6. The beneficiary can transfer the bill of exchange for acceptance, the drawer or transferee.
Article 30.Transfer by signing the transfer
1. Transfer of assignment signed by the beneficiary is the transfer of ownership of a bill of exchange for the transfer by signing the back of the bill of exchange and transfer of bills of exchange for the transfer.
2. The transfer by signing the transfer is applied to all bills of exchange, bills of exchange but not transfer provisions in Article 28 of this Law.
Article 31.The form and content for Transfer
1. The transfer of assignment signed by the beneficiary must be written, signed on the back of the bill of exchange.
2. The transferor may transfer signed by one of the following forms:
a) sign the transfer blank;
b) To sign a full transfer.
3. When the transfer by signing blank transfer, the transferor to sign the back of the bill of exchange and transfer of bills of exchange for the transfer. The signing of the transfer to hold the draft is signed blank transfer.
4. When the transfer by signing a full transfer, the transferor to sign the back of the bill of exchange and must include the full name of the assignee, the date of transfer.
Article 32.Rights and obligations of the person signing the transfer
1. The signatories are obliged to transfer the bill of exchange to ensure that transferred will be accepted and paid, unless otherwise stipulated in Clause 2 of this Article. When this draft is rejected or refused to accept payment of part or all of, the signatories are obliged to transfer the payment amount of the rejected bill of exchange has been transferred.
2. The sign may not be transferred to the subsequent transfer of bills of exchange by writing additional words "not transferable", "no transfer" or other phrases with similar meaning in the contents of the draft for Transfer debt in case the bill of exchange is then further transfer the registration of this transfer has no obligation to pay for the transfer later.
Article 33.Transferred by the transfer.
1. Transferred by the transfer of the beneficiary is transferring ownership of a bill of exchange for the transfer by transferring the bill of exchange for the transfer.
2. The transfer by the transfer shall apply to bills of exchange with the following:
a) Bills of exchange were issued to pay for the lien;
b) Bills of exchange can only transfer by signing a blank transfer;
c) Bills of exchange, transfer finally signed blank transfer.
Article 34.The rights of the transferee with a bill of exchange or transfer signed blank transfer
The transferee with a bill of exchange or transfer form signed blank transfer has the following rights:
1. Fill in the blank of his name or the name of another person;
2. Transfer to sign blank bills of exchange by signing the bill of exchange;
3. Further transfer the bill of exchange by transfer to another person;
4. Signed transfer full bill of exchange.
Article 35.Discount, rediscount bills of exchange
Bills of exchange can be discounted or re-discount at State Bank of Vietnam, credit institutions as prescribed by the State Bank of Vietnam.
Section V: TRANSFER TO PLEDGE AND ASSIGNMENT
For collection of bills of exchange
Article 36.The right to pledge or bill of exchange
The beneficiary has the right to pledge or bill of exchange under the provisions of this Section and other provisions of law are involved.
Article 37.Transfer of bill of exchange for pledge
The pledge of bills of exchange to transfer the bill of exchange for the pledgee. Pledge agreement on a bill of exchange must be made in writing.
Article 38.Handling of bill of exchange is pledged
Upon completion of the mortgage obligations secured by the pledge of bills of exchange, the pledgee must return the bill of exchange for the pledge. In the event the pledgor fails to make full and timely obligation secured by the pledge of bills of exchange, the pledgee becomes the beneficiary and the bill of exchange payment obligations are guaranteed by the mortgage.
Article 39.Collection via the collection
1. The beneficiary can transfer the bill of exchange for collection to collection amount stated on the bill of exchange by transferring the bill of exchange for collection under the provisions of this Act together with written authorization copies of the collection.
2. The collection is not to exercise the rights of the beneficiaries under the bill of exchange than the right to present a bill of exchange for payment, eligible to receive the draft, the right to transfer the bill of exchange for the other collection for collection of bills of exchange.
3. The receiver must present a bill of exchange the drawee for payment under the provisions of Article 43 of this Law. Where the collection does not produce or produce in time a bill of exchange for payment to a bill of exchange is not paid, the person responsible to collect compensation for the maximum benefit amount stated on the bill of exchange.
4. State Bank of Vietnam shall specify the procedures for collecting bills of exchange through the collection.
Section VI: Payment Bills of exchange
Article 40.Beneficiaries
Beneficiaries bill of exchange is regarded as the legal beneficiary if they meet the following conditions:
1. Hold the bill of exchange is not overdue and not know this was a bill of exchange has been notified of the rejection, denial of payment;
2. Establishing ownership of a bill of exchange legally. Where the transferee beneficiary bill through for Transfer, the transfer signatures on the drafts have continued without interruption;
3. No notice of the assignment sign the bill of exchange has previously held a bill of exchange by fraud, coercion, force or other unlawful manner.
Article 41.Rights of beneficiaries
1. The beneficiary holds a bill of exchange under the provisions of Article 40 of this Law have the following rights:
a) To present a bill of exchange for acceptance or for payment when the bill of exchange due;
b) request the relevant bill of exchange payment when due;
c) Transfer of bill of exchange under the provisions of this Law;
d) Transfer to pledge or transfer for collecting bills of exchange;
e) To have recourse to litigate the bill of exchange.
2. The right of the beneficiary holds a bill of exchange under the provisions of Article 40 of this Law is guaranteed even if the person concerned previously held no legal bill.
Article 42.Payment Period
1. The time limit for payment of bills of exchange are recorded by one of the following time limits:
a) Upon presentation;
b) After a certain period from the date of bill of exchange is accepted;
c) After a certain period from the date of issue;
d) On a date to be specified.
2. Bills of exchange are not worth much if the payment term stated or not stated time limit prescribed in Clause 1 of this Article.
Article 43.To present a bill of exchange for payment
1. Beneficiaries have the right to present a bill of exchange at the site requires payment to the drawee on payment of a bill of exchange or become due within the next five working days.
2. The beneficiary may present the bill of exchange after the expiry date on the bill of exchange, if the delay produced by a force majeure event or objective obstacle caused. Time the event of force majeure or objective obstacles are not included in the billing period.
3. Bills of exchange are recorded billing period is "at sight" must be presented for payment within ninety days from the date of issue.
4. The bill of exchange presented for payment to be considered valid if they meet the following conditions:
a) Do the beneficiaries or the legal representative of the beneficiary to present;
b) Bills of exchange become due;
c) To present at the place of payment prescribed at Point d, Clause 1 and Clause 2 of Article 16 of this Law.
5. The beneficiary may present the bill of exchange for payment in the form of mail via the public postal network. The timing of the bill of exchange for payment by the date on the postage stamp to send mail.
Article 44.Payment of bills of exchange
1. The drawee to pay or deny a bill of exchange payment to the beneficiary within three working days after receiving the bill of exchange. In the case of a bill of exchange is presented in the form of payment guarantee letter public postal network, this duration is calculated from the date of confirmation drawee received a bill of exchange.
2. When a bill of exchange has been payment in full, the beneficiary must sign the transfer of bills of exchange, the additional sheet to the payer.
Article 45.Refusing to pay
1. Bills of exchange is considered to be denied payment if the beneficiary is not fully paid the amount stated on the bill of exchange within the time limit prescribed in Clause 1 of Article 44 of this Law.
2. When a bill of exchange payment is denied in whole or in part the amount stated on the bill of exchange, the beneficiary has recourse right amount unpaid for the previous assignment of his drawer and surety as prescribed in Article 48 of this Law.
Article 46.Complete a bill of exchange payment
The payment of a bill of exchange is considered completed in the following cases:
1. The drawer, drawee, the acceptor has to pay the full amount stated on the bill of exchange for the beneficiary;
2. The acceptor becomes the beneficiary of the bill of exchange on the date of maturity or after that date;
3. Beneficiaries cancel the bill of exchange or relinquishment of a bill of exchange when the cancellation or waiver is clearly stated on the bill of exchange with the phrase "cancel", "abandon" or phrases others have the same meaning, the date of cancellation or waiver and signed by the beneficiary.
Article 47.Payment in advance
The drawee a bill of exchange payment before maturity at the request of the beneficiary must pay for all damages incurred by payment in advance.
Section VII claim when the bill of exchange NOT BE ACCEPTED
OR WITHOUT PAY
Article 48.Recourse
1. Beneficiaries have the right to claim the amount specified in Article 52 of this Law, for the following people:
a) The drawer or guarantor, who before his assignment in case the bill of exchange declined to accept part or all of the provisions of this Law;
b) The drawer, transferor or guarantor, as the bill of exchange become due without payment of the contents of the bill of exchange;
c) The drawer, transferor or guarantor, in case the drawee is declared bankrupt, dissolved, dead or missing, including cases where the bill of exchange accepted or not accepted received;
d) The transferor or guarantor, in case the bill of exchange is not maturity but the drawer is declared bankrupt, dissolved, dead or missing and a bill of exchange has not been accepted.
2. The transfer has been paid to the beneficiary is entitled to recourse against the drawer or before its transfer.
Article 49.A written notice of recourse
In the case of bills of exchange accepted or rejected payment rejected, the beneficiary must be notified in writing to the drawer, the transferor or guarantor, for these people to the challenge it.
Article 50.Notice period
1. The beneficiary must notify the drawer, the transferor or guarantor, for these people on the bill of exchange accepted or rejected payment rejected within four days after from the date of refusal.
2. Within four working days after receiving notice, each transferee shall notify in writing to the transferor of a bill of exchange is rejected, together with the names and addresses of people who inform yourself. The announcement was made until the drawer receives notice of a bill of exchange accepted or rejected payment rejected.
3. During the notice period stipulated in Clause 1 and Clause 2 of this Article, if such notification is not implemented due to force majeure event or objective obstacle causing the time of the events of force majeure or obstacles objective not included in the notice period.
Article 51.The responsibility of the person concerned
1. The drawer, transferor shall be jointly paid to the beneficiaries the full amount indicated on the bill of exchange.
2. The acceptor, guarantor jointly responsible for payment to the payee amount or commitment to guarantee commitment.
Article 52.Amount paid
Beneficiaries have the right to demand payment of the following amounts:
1. The money is not accepted or paid;
2. Expenses claim, the reasonable expenses related others;
3. Interest on the unpaid amount from the date of bill of exchange matures in accordance with the State Bank of Vietnam.
Chapter III: promissory note
Article 53.The contents of the promissory note
1. Promissory notes contain the following:
a) The term "promissory note" is written on the front of the promissory note;
b) The commitment to unconditionally pay a specified sum of money;
c) Term of payment;
d) place of payment;
e) Name of organization or the full name of individual beneficiaries of the issuer to specify or require payment of promissory notes to the order of the payee or bill payment request to the bearer hold;
e) Location and date of issue;
g) Name of organization or the full names of individuals, address and signature of the issuer.
2. Promissory note has no value if one of the contents prescribed in Clause 1 of this Article, except the following cases:
a) Where the place of payment not listed on the promissory note, the place of payment is the address of the issuer.
b) Where the release site is not listed on the promissory notes issued, the place is the address of the issuer.
3. When the amount on the promissory note recorded by some other amount in words the amount stated in words is worth paying. In case the amount on the promissory note was recorded two more times with the letter or number and the amount can vary, the smallest value in words is worth paying.
4. In the case of promissory notes do not have enough room to write, promissory notes that may attach an additional sheet. Additional sheet is used to record the contents of the guarantee, transfer, pledge collection. The first additional sheet to make additional sheet attached to the promissory note and sign the adjoining space between the side sheets and promissory notes.
Article 54.Obligations of issuers
The issuer is obliged to pay the amount stated on the promissory note to the beneficiary when mature and have other obligations as the accepted bill of exchange under the provisions of this Law.
Article 55.Obligations of the first transfer promissory notes
The first assignment of promissory notes are obliged as a bill of exchange issued under the provisions of Article 17 of this Law.
Article 56.Complete payment of promissory note
The payment of promissory notes was considered completed in the following cases:
1. When the issue became the beneficiary of the promissory note matures on or after that date;
2. The issuer has to pay the full amount stated in the promissory note to the payee;
3. Beneficiaries canceled promissory note.
Article 57.Guarantee, transfer, pledge, collection, payment, recourse promissory note
The provisions of Article 24 and Article 52 of this Law on guarantees, transfer, pledge, collection, payment, bill of exchange recourse was to apply the same promissory note.
Chapter IV: CZECH
Section I: CONTENTS OF THE CZECH REPUBLIC AND FOR DEVELOPMENT
Article 58.The contents of the check
1. The front of the check are the following:
a) From the "Check" is printed on the check;
b) The amount determined;
c) Name of bank or organization providing payment services as the drawee;
d) Name of organization or the full name for personal benefit is the drawer specified or required to pay the check to the order of the payee or check payment required to hold;
e) The place of payment;
e) The date of issue;
g) Name of organization or the full names of individuals and the signature of the drawer.
2. Czech lacks one of the contents prescribed in Clause 1 of this Article shall not be valid unless the location is not written on the check payment, the check is paid at the place of business of the drawee.
3. Apart from the provisions of paragraph 1 of this Article, an organization providing checks can add other content that does not give rise to additional legal obligations of the parties, such as account numbers that the drawer is used to draw checks and address of the drawer and address of the drawee and other content.
4. In case the check is paid through the clearing center, then check the check must have the content in accordance with the Center for check clearing.
5. The back of the check is used to write the content transfer checks.
6. Amount in figures on the checks must be equal to the amount in words on the check. If the amount in figures differ from the amount in words is not worth a check payment.
Article 59.Check the size and arrangement of content placements in the check
1. Check the size and layout position of the content on the check by providing organizations design and implement a check, except as provided in paragraph 2 of this Article.
2. Central check clearing checks stipulated in size, content and placement of content on the check for the check payment center clearing checks.
Article 60.To draw checks
1. Cheque drawn for ordering the drawee of payment:
a) For a person determined not to permit the transfer and checks specified by the payee's name and accompanied by one of the words "not transferable", "not paid by the order";
b) For a person to identify and check for transfer by writing the name of the beneficiary and not the phrase does not permit the transfer of a point specified in this paragraph;
c) Give the person holds a check, by the phrase "hold the check payable to" bearer or beneficiary.
2. Cheque may be issued ordering the drawee to pay the sum indicated on the check to the drawer.
3. The check is not drawn for the order to make the drawer to pay the check, unless the drawer to pay from one unit to another unit of the drawer.
4. The drawer is held checks, personal bank account, an organization providing payment services permitted by the State Bank of Vietnam.
Article 61.Checks for payment to the account and pay cash checks
1. The draw checks or transfer checks can not allow payment by cash checks written on the check by the phrase''pay to the account.'' In this case, the drawee may deliver the check amount that the beneficiary's account without permission to pay in cash, even when the words "paid into the account" was crossed out.
2. Where the check is not the phrase''pay''account, the drawee to pay the check to the payee in cash.
Article 62.Cross bearer checks and cross checks with names
1. The drawer or transferee may provide a check checks only payable to a bank or account payee bank drawee on the check by two lines crossed in parallel.
2. The drawer or transferee may provide a check checks only payable to a particular bank or the beneficiary has an account at that bank on the check by two lines crossed out the name of the parallel and between two banks that crossed it. Czech names between the two banks would not have crossed the value payment, unless one of the two banks named as the two crossed the collecting bank.
Section II: SUPPLY CHECKS
Article 63.Supply of blank checks
1. State Bank of Vietnam providing blank checks to the credit institutions and other organizations have an account at State Bank of Vietnam.
2. Banks, an organization providing payment services by providing blank checks to organizations and individuals to use the account to draw checks.
3. Organizations providing checks prescribed conditions and procedures for the preservation and use of checks by their suppliers.
Article 64.Printing, shipping and storage of blank checks
1. Suppliers shall organize the checks in blank check to provide to users.
2. Before the blank checks were printed and supplied for use, the organization providing the check blank check forms to register at the State Bank of Vietnam.
3. The printing, forwarding, storage and use of blank checks made in accordance with the State Bank of Vietnam on the printing, delivery, storage and use of valuable prints.
Section III: TRANSFER, CHECK COLLECTION
Article 65.Assigners
The transfer of checks to be applied in accordance with the transfer of bills of exchange in Section IV Chapter II of this Law, unless otherwise transferred for collection of checks for the organization providing payment services as stipulated in Article 66 of this Law.
Article 66.Transfer checks for check collection
1. The payee may transfer the check for collection by signing the transfer and delivery of checks for collection.
2. People have the right to collect on behalf of a transfer to produce the checks, receive the amount stated on the check and transfer the check to the check collection and other collection; recourse amount of the check to the drawer and transferring check if collecting the amount paid before the check to the payee and the check is collected with the drawee refused payment.