A promissory note is an unconditional written promise issued by one person to another person to ensure that a certain amount will be paid to someone or their designee or bearer at sight or on a regular basis or at some future time. According to Article 73 of China's Negotiable Instruments Law, a promissory note refers to a note issued by the drawer, which promises to unconditionally pay a certain amount to the payee or the holder at sight. The second paragraph goes on to stipulate that the promissory note referred to in this Law refers to bank promissory notes, excluding commercial promissory notes and personal promissory notes. Promissory notes are also clearly explained in the Bill Law of People's Republic of China (PRC).
Characteristics of promissory notes
Special (1) self-funded bill.
A promissory note is paid to the bearer by the drawer himself. [ 1]
Features (2) There are few basic parties.
The basic parties to a promissory note are only the drawer and the payee.
Feature (3) does not require acceptance.
The legal system of bills of exchange can be applied to promissory notes in many ways. However, because the drawer is responsible for the payment, there is no need to entrust others to pay, and the promissory note can guarantee payment without acceptance.
Feature (4) A cashier's check is a bill that the applicant deposits money in the bank and is issued by the bank, and promises to unconditionally pay a certain amount to the payee or holder at sight. According to whether the amount is fixed or not, cashier's checks can be divided into two types: non-fixed and fixed. Unlimited cashier's check refers to a cashier's check in which the amount column on the voucher is blank, the amount (starting amount is 5000 yuan) is filled in according to the actual needs when issuing, and the amount counter is affixed; Fixed cashier's check refers to a cashier's check with a fixed denomination printed on the certificate in advance. The denomination of the fixed cashier's check is 1 1,000 yuan, 5,000 yuan, 1 1,000 yuan and 50,000 yuan, indicating that the payment period shall not exceed 2 months from the date of issue.
Necessary items of promissory note
After getting the promissory note, regardless of whether the promissory note is valid or not, according to the provisions of the People's Republic of China (PRC) Negotiable Instruments Law, this promissory note needs to have the following necessary items:
1. marked as? Promissory note? ;
2. Unconditional payment commitment;
3. Signature of the drawer;
4. Date and place of issue;
5. The determined amount;
6. The name of the payee or his designee.
Issue of promissory notes
1. qualification of the drawer
Article 75 of China's Negotiable Instruments Law stipulates that the qualification of the drawer of promissory notes shall be examined and approved by the People's Bank of China, and the specific management measures shall be stipulated by the People's Bank of China. This reflects the cautious attitude of managers towards the issuance of promissory notes, and also reflects the urgent need to improve commercial credit while developing commodity economy in China.
2. Matters that must be recorded on the promissory note
(1) means? Promissory note? In that case.
(2) the promise of unconditional payment.
(3) the determined amount.
(4) Name of payee.
(5) Date of issue.
(6) Signature of the drawer.
3. The items recorded in the promissory note are the same as those recorded in the bill of exchange, with the purpose of improving the credit of the promissory note and ensuring the smooth circulation of the promissory note.
Including: the calculation of interest rate and interest of promissory notes after maturity, whether the promissory notes are allowed to be transferred, whether the time limit for presenting payment is shortened, and the agreement on notifying other debtors when refusing to pay.
4. The place of responsibility of the promissory note shall be clearly stipulated. If the place of payment is not specified, the business place of the drawer is the place of payment; If the place of issue is not specified, the business place of the drawer shall be the place of issue.
pay
(1) Presentation for payment: When the bearer presents a promissory note, the drawer of the promissory note must bear the responsibility for payment.
(2) The longest payment period shall not exceed 2 months.
(3) Rights related to timely payment. Presenting a promissory note to the drawer for the first time is the first right of claim, and it is a necessary procedure to recover from other debtors of the promissory note. If a promissory note is not presented in time, the holder cannot recover his previous hand.
6. A promissory note is bound by the terms of the bill.
The endorsement, guarantee, payment and recourse of promissory notes shall be governed by the provisions of this Law on bills of exchange, except as otherwise provided in the chapter on promissory notes in the Negotiable Instruments Law.
Use of promissory notes
Use of promissory note 1. For the forward payment in commodity trading, the buyer can first issue a promissory note with the agreed payment date as the due date to the seller, and the seller can receive the payment as scheduled with the promissory note. If funds are urgently needed, the promissory note can be discounted or resold to others.
Use of promissory notes. As a loan voucher, the borrower issues a promissory note and gives it to the lender for receipt.
Use of promissory notes. When enterprises raise funds from abroad, they can issue commercial promissory notes, which are guaranteed by financial institutions and then sold in the securities market to obtain funds, and repay the principal and interest on the maturity date of the promissory notes.
The use of promissory notes. When customers withdraw their deposits, banks should pay cash. If the cash is insufficient, you can send the cashier's check drawn by the bank to the customer instead of paying cash.