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QUESTION–ANSWER

We have collected answers to frequently asked questions on this page.

About promissory note

What the promissory note is ?

The promissory note – is a written debt obligation, giving to its owner (drawer) indisputable, unconditional right to demand from the debtor the payment , after the expiration period. promissory note – is a debt security, written obligation of strictly defined form. Person, who gives the bill, is called “drawer”. It’s a security not tied to a loan or transaction. Circulation of promissory notes is governed by international law.

The advantage of promissory note over the loan

The loan obligation is much stricter than any other document (receipt, credit agreement, loan agreement). The bill doesn’t link with any deal, it just confirms the presence of the debt, so it can be used in different areas. In disputable situation the bill has a primary right of refund.

What does regulate bill relations in Russia?

Bill relations are regulated by the Civil Code of the Russian Federation, Resolution from 1937 #104 1341 “About enforcement of a regulations on the transferred and promissory note”, Federal Law #48 - Federal Law from 11.03.1977 “About transferred and promissory note”.

What should I do if the drawer didn’t do his debt obligations in time?

Bill protest - is a legaly confirmed certain dispositive fact (bill payment refuse), connected with realization of rights and obligations of agreement party. According to the regulations of the Bill of Exchange Law, the payment refuse must be confirmed by act, constituted in a public order. In case of a bill protest, the notary confirms non-making of the payment in time. Next terms are set: bills for execution of bill proest are accepted by notary the next day after the expiration of a payment date of the bill, but no later than 12 hours after this term. In case of consulting a notary you should have: the original bill, passport or ID, and the check given by the terminal (with information about non-execution of liabilities by the Issuer). After consultation with the notary you should appeal with the claim to court.

What the stock is?

Stock is a security, giving its owner the right to take part in company's management and receiving the part of its income. Simply it looks like the enterprise needs money for development, so it goes for help to investors, who give required sum of money.