Bill of Exchange
विनिमेयपत्र
Also called Trade bill, Usance bill
NRB rules
NRB limit: An instrument not payable on demand, at sight or on presentment falls due on the fourth day after its due date (three days of grace)
Negotiable Instruments Act, 2034, Section 7 (Law Commission text as amended to 2082-01-24 BS) · applies from . Limits change with each monetary policy and directive, so check the latest notice before the exam.
A signed written instrument containing an unconditional order by one person to another to pay a certain sum, on a fixed date, after a fixed period or on demand, to a specified person, that person's order, or the bearer (NI Act, 2034, Section 2(छ)).
Explained
Parties
- Drawer: writes and signs the bill (usually the seller or creditor).
- Drawee: the person directed to pay (usually the buyer or debtor); after accepting, the drawee is the acceptor.
- Payee: the person to receive payment.
- Drawee in case of need: a person named to be approached if the drawee refuses (Section 2(ढ)).
Features
- Unconditional order, certain sum, signed, may be payable on demand or after a period (usance bill).
- A usance bill must be presented for acceptance (Sections 40 and 41); refusal is dishonour by non-acceptance (Section 64). Refusal to pay is dishonour by non-payment (Section 65).
- An instrument not expressed as payable on demand, at sight or on presentment falls due on the fourth day after its due date, effectively three days of grace (Section 7).
- A cheque and a draft are special kinds of bills of exchange.
Use in banking Trade finance: documentary bills under LCs, bill purchase and discounting, and bill collection. Where an instrument is unclear as a promissory note or bill of exchange, the holder may treat it as either (Section 3).
फलानो मितिमा वा यति अवधिपछि वा माग्दा सो पत्रमा लेखिएको कुनै खास व्यक्ति, निजले अह्राएको वा पत्र लिई आउनेलाई यति रुपैयाँ दिनु भनी एकले अर्कोलाई बिनाशर्त निर्देशन गरी दस्तखत गरेको लिखत (विनिमेय अधिकारपत्र ऐन, २०३४, दफा २(छ))।
व्याख्या
पक्षहरू
- ड्रअर: विनिमेयपत्र लेख्ने र दस्तखत गर्ने (प्रायः बिक्रेता वा साहू)।
- ड्रयी: भुक्तानी दिन निर्देशन गरिएको व्यक्ति (प्रायः खरिदकर्ता वा ऋणी); स्वीकार गरेपछि स्वीकारकर्ता।
- भुक्तानी पाउने व्यक्ति: रकम पाउने व्यक्ति।
- वैकल्पिक ड्रयी: ड्रयीले इन्कार गरे सम्पर्क गर्नुपर्ने भनी तोकिएको व्यक्ति (दफा २(ढ))।
विशेषता
- बिनाशर्त आदेश, निश्चित रकम, दस्तखत, माग्दा वा अवधिपछि (म्यादी) भुक्तानी।
- म्यादी विनिमेयपत्र स्वीकृतिका लागि प्रस्तुत गर्नुपर्छ (दफा ४० र ४१); अस्वीकार गरेमा अस्वीकृतिद्वारा अनादर (दफा ६४)। भुक्तानी नदिए भुक्तानी इन्कारद्वारा अनादर (दफा ६५)।
- माग्नासाथ, देख्नासाथ वा प्रस्तुत गर्नासाथ भुक्तानी भनी नलेखिएको अधिकारपत्रको भुक्तानी भुक्तानी मितिले चौथो दिनमा हुन्छ, अर्थात् तीन दिनको थप म्याद (दफा ७)।
- चेक र ड्राफ्ट विशेष प्रकारका विनिमेयपत्र हुन्।
बैंकिङमा प्रयोग व्यापार वित्त: प्रतीतपत्रअन्तर्गत कागजी बिल, बिल खरिद र डिस्काउन्टिङ तथा बिल संकलन। कुनै अधिकारपत्र प्रतिज्ञापत्र हो कि विनिमेयपत्र भन्ने छुट्याउन गाह्रो भए धारकले जुनसुकै मान्न सक्छ (दफा ३)।
Related
Sources
In the syllabus: ADBL L4
Updated