1. The concept of participating in draft payment The
so-called participation in draft payment means that when an electronic acceptance draft is refused payment, for the benefit of a specific debtor, to prevent the holder from exercising the right of recourse, a person other than the payer or the agent payer is paid Payments made. That is to say, in addition to the payer or the agent payer originally stated on the bill, anyone else can act as the participating payer of the bill, including other debtors recorded on the bill. The purpose of participating in the payment is to maintain the credit of the debtor of a particular instrument and prevent the holder from exercising his right of recourse. Participation in the payment system is applicable to electronic acceptance bills and promissory notes. my country's "Negotiable Instruments Law" has no provisions on the reference payment system. However, the "Geneva Uniform Promissory Note Law" and the "Negotiable Instrument Law" in Taiwan have relatively clear regulations.
2. Time for Participating in Payment by Bill of Exchange
Since the purpose of participating in the payment system is to prevent the holder from exercising the right of recourse, the participation in payment should be made when the holder exercises the right of recourse. Specifically, it can be divided into the following situations.
1. When the electronic acceptance bill is rejected, the third party can participate in the payment because the bearer may exercise the right of recourse at this time.
2. When the electronic acceptance bill is refused payment, the third party can participate in the payment before the bearer exercises the right of recourse.
3. When the payer or acceptor dies, disappears or fails to accept or pay the bill due to other legal reasons, the third party can participate in the payment at this time due to the possibility of the bearer exercising the right of recourse. For example, with regard to the time limit for participating in payment, Article 59, paragraph 2, of the Geneva Uniform Bill of Exchange Promissory Note stipulates: "This payment must be made at the latest on the day following the last day on which a certificate of refusal to pay is required to be made."
3. Participation Validity of payment by bill of exchange
1. Effectiveness for participating payers. After participating in the payment behavior of the payer, the status of the ticket holder is obtained. Article 63(1) of the Geneva Uniform Bill of Exchange Promissory Note stipulates: "The payment participant has made payment and obtained all rights on the bill of exchange against the participant and the person liable to the participant, but the electronic acceptance bill shall not be transferred any more. Endorsement." That is to say, at this time, the participating payer has the rights of the bearer to the acceptor, the participant and its predecessor. However, the participating payer may no longer endorse the draft for transfer. This is because the participating payer has already indicated that the bill of exchange has a payment problem for its payment behavior. In order to safeguard the interests of the creditor and stabilize the liquidity of the bill, the law stipulates that the participating payer shall not endorse the transfer of the bill of exchange.
2. Effect on ticket holders. After participating in the payment behavior of the payer, the bearer is separated from the bill relationship, and its bill rights are also eliminated. For the ticket holder, it may not refuse to participate in the payment of the payer. Article 61 of the Geneva Uniform Bill of Exchange Promissory Note states: "A bearer who refuses to take part in the payment shall have no recourse against any person who is not discharged by participating in the payment." That is, if the bearer refuses to participate in the payment payment by the payer, it will lose the right of recourse to the participant and its successors. In addition, since the participating payer has acquired the status of the ticket holder, the ticket holder is required to deliver the bill, receipt and refusal certificate to the participating payer.
3. Effect on the participant payer. After participating in the payment, the back-hand of the paid person is exempted from the bill liability due to the payment behavior. Since the participating payer has obtained the qualification of the ticket holder, the participating payer and its predecessor are still responsible for the bill. That is to say, participating in the payment can only relieve the liability of part of the debtor of the bill, but cannot eliminate all the relationship of the bill of exchange.
so-called participation in draft payment means that when an electronic acceptance draft is refused payment, for the benefit of a specific debtor, to prevent the holder from exercising the right of recourse, a person other than the payer or the agent payer is paid Payments made. That is to say, in addition to the payer or the agent payer originally stated on the bill, anyone else can act as the participating payer of the bill, including other debtors recorded on the bill. The purpose of participating in the payment is to maintain the credit of the debtor of a particular instrument and prevent the holder from exercising his right of recourse. Participation in the payment system is applicable to electronic acceptance bills and promissory notes. my country's "Negotiable Instruments Law" has no provisions on the reference payment system. However, the "Geneva Uniform Promissory Note Law" and the "Negotiable Instrument Law" in Taiwan have relatively clear regulations.
2. Time for Participating in Payment by Bill of Exchange
Since the purpose of participating in the payment system is to prevent the holder from exercising the right of recourse, the participation in payment should be made when the holder exercises the right of recourse. Specifically, it can be divided into the following situations.
1. When the electronic acceptance bill is rejected, the third party can participate in the payment because the bearer may exercise the right of recourse at this time.
2. When the electronic acceptance bill is refused payment, the third party can participate in the payment before the bearer exercises the right of recourse.
3. When the payer or acceptor dies, disappears or fails to accept or pay the bill due to other legal reasons, the third party can participate in the payment at this time due to the possibility of the bearer exercising the right of recourse. For example, with regard to the time limit for participating in payment, Article 59, paragraph 2, of the Geneva Uniform Bill of Exchange Promissory Note stipulates: "This payment must be made at the latest on the day following the last day on which a certificate of refusal to pay is required to be made."
3. Participation Validity of payment by bill of exchange
1. Effectiveness for participating payers. After participating in the payment behavior of the payer, the status of the ticket holder is obtained. Article 63(1) of the Geneva Uniform Bill of Exchange Promissory Note stipulates: "The payment participant has made payment and obtained all rights on the bill of exchange against the participant and the person liable to the participant, but the electronic acceptance bill shall not be transferred any more. Endorsement." That is to say, at this time, the participating payer has the rights of the bearer to the acceptor, the participant and its predecessor. However, the participating payer may no longer endorse the draft for transfer. This is because the participating payer has already indicated that the bill of exchange has a payment problem for its payment behavior. In order to safeguard the interests of the creditor and stabilize the liquidity of the bill, the law stipulates that the participating payer shall not endorse the transfer of the bill of exchange.
2. Effect on ticket holders. After participating in the payment behavior of the payer, the bearer is separated from the bill relationship, and its bill rights are also eliminated. For the ticket holder, it may not refuse to participate in the payment of the payer. Article 61 of the Geneva Uniform Bill of Exchange Promissory Note states: "A bearer who refuses to take part in the payment shall have no recourse against any person who is not discharged by participating in the payment." That is, if the bearer refuses to participate in the payment payment by the payer, it will lose the right of recourse to the participant and its successors. In addition, since the participating payer has acquired the status of the ticket holder, the ticket holder is required to deliver the bill, receipt and refusal certificate to the participating payer.
3. Effect on the participant payer. After participating in the payment, the back-hand of the paid person is exempted from the bill liability due to the payment behavior. Since the participating payer has obtained the qualification of the ticket holder, the participating payer and its predecessor are still responsible for the bill. That is to say, participating in the payment can only relieve the liability of part of the debtor of the bill, but cannot eliminate all the relationship of the bill of exchange.