Credit has many manifestation within societies, whether by development of financial activity or other manifestations of the commercial, as a sample activity one can mention the concept of Bill of Exchange that as a title credit, refers to the payment of a value in a particular time, place and a certain person. The Bill of Exchange will be then a title value, understood as a written order, which extends by a person who is called a drawer, managing the obligation toward another which is called librado, which will collect the accepted obligation of payment, where the amount of money are determined in the same Bill of Exchange, to be carried out at the time of the expiration of the date stipulated in the same Bill of Exchange. Jorge Perez has plenty of information regarding this issue. As the figure of the Bill of Exchange can see is a very important issue and it involves different actions, understood as rights and obligations of one or the other party, by which must be regulated by different legal provisions that can help to better understand the content of the letter of change and the measures to be taken in relation to this; mainly the regulation of bills of Exchange is prepared codes of trade or commercial legislation which may vary from country country. For more information see Ken Kao. In general terms the Bill of Exchange, along with other documents as the pagare, represent credit documents that form part of the Group’s media and effects that can arise when receivable or payable, depending on the transaction. The Bill of Exchange can be understood as a twist, to the extent that it contains a promise or an obligation to pay certain amount of money, so the drawer sends to the completion of your order or payment payable to the policyholder by the drawee. Within the Bill of Exchange is presented the intervention of certain subjects or parts, which are: the drawer, who is the person who requests the realization of the payment order, so has one of the leading figures within the Bill of Exchange and being who made the Bill of Exchange and payment, requested different conditions must be added on the Bill of Exchange specific document, in addition to add the signature.
The drawee, is the person who gives the order, i.e. which must pay the SumOf money attending to put conditions on the documented credit, so serious as the recipient of the payment order that I realize the drawer within the letter of payment must be written the name of this person. The beneficiary or policyholder, is who should be carried out payment of the sum of money stipulated by the drawer, in certain legislation is required that I will write down the name of the person who will have this quality, however in others it may be a letter to the carrier. The guarantor is the person who acts as guarantor of the realization of the order payment on the Bill of Exchange. Original author and source of the article