For execution of credit and settlement operations withBy means of securities, the bill and check were most widely distributed. The bill is a security that is drawn up in accordance with the established form and gives the bill holder the right to demand from the person who has committed to pay the bill specified in the bill amount. A bill in the modern money market can fulfill the function of money as a means of payment and circulation. Most often this happens in the form of a loan.
Any promissory note transaction is based on trustsellers of goods and services to buyers, because when buying they get not cash, but a promise to pay a certain amount in a fixed period. In spite of the fact that the bill is a legally issued paper, it does not have any public guarantees, and the seller receives proof of its payment only on the day of its cashing. Public guarantees are provided on bills issued by the state, and the subject of such a bill is money, not goods and services.
Characteristics of the bill will be incomplete withoutinstructions of its forms. The most common types of bills: simple or solo and transfer or draft. A simple bill contains the promise of the bill holder to pay the amount indicated in the bill to the holder of the note within the time specified in the security. In the bill of exchange bills of subjects of the transaction there are already three: it contains the promise of the drawer (drawer) to the drawee (payer) to pay the specific amount specified in the security to a third party. The drawer proposes to pay the debt to its debtor, that is, it transfers (traces) the repayment of the debt to another person. That is why such a bill was called a transfer one. These types of bills are widely used in the performance of a variety of credit transactions.
By nature of the transaction, the following typesbills: commercial, financial, friendly and bronze. A commodity or commercial bill is a security that is used in the preparation of the sale of goods, that is, there is a sale of goods with a deferred payment. The commercial bill, in turn, can be simple and transferable.
The financial bill is used for registrationreception of a monetary loan. It can also be simple and translated. The Treasury, banks, enterprises, authorities, individuals can issue such a security. A friendly bill does not imply any deal at all. This security is used to pay for goods or services between the organization and the supplier. A friendly bill can also be issued by one organization to another, in order to receive real money on it from the bank or to pledge it as security. A bronze bill is also the absence of any transaction, but it also subscribes to a non-existent person. Such a security does not have a payer.
There are also types of bills by issuer ordrawer. These are state and private bills. State securities are issued, of course, by the state and have the following subspecies: municipal and treasury. They are issued, respectively, by local authorities and the Treasury. Private bills are corporate and promissory notes of individuals. Corporate firms or banks issue. Almost all government bills are related to simple financial bills. Private bills are both simple and transferable.
Bills can also be divided by maturity: for securities on demand, on securities on a certain date from the presentation, on a certain date from the drawing up.
In addition, there are discount bills and interest.In a discount bill, interest is included in the bill amount, and the billholder receives a certain income in the form of a discount (the difference between the purchase price of a bill and the bill amount). In the text of an interest-bearing note, the percentage that is charged on the bill amount at the time of presentation of the bill is indicated.
On the territory of the Russian Federation, promissory notes by type of currency are divided into ruble and foreign currency.
