Bills of exchange are a method used today to pay the installments of a loan. Let’s see how you pay a promissory note for a loan note and what are the conditions, These are stated on the bill itself. In fact, in the title you know if
- You will have to pay before the end of the year, at sight. The year is calculated from the issue date printed on the bill.
- You will have to pay within two days later, at a certain time view. For example, if you received a protest or a foreclosure, you have two working days to pay the bill. The date shown is the one in which the protest took place.
- You will have to pay within two days after the deadline date at a certain time. The draft goes honored based on the expiry date stated on the title, you have two working days after that date to pay the amounts due.
- You will have to pay by the deadline, at a fixed date. This definition is used to pay the installments of loans of a small amount and allows financial firms to keep track of the payments of people complain.
You have two ways to pay your bill: you can choose to pay the entire amount immediately, for those who have no problems with providing the finance, the operation is called in the jargon extinction of the bill, or pay it by himself and partly to pay someone other amounts that are missing. In the latter case we speak of the receipted bill.
Let’s see how it works. The debtor pays part of its debt, but can not feel exempted from the payment of the amount missing. Turn so the bill to another person, obliged to decline, which will have to sign the bill and pay it. If you use the receipted bill, remember that you will not have outstanding accounts with the provider of the loan, but the bill will not be settled, legally, you will know that you have not been you to comply with your debt, and this can cause problems when seeking other loans.