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UNCITRAL Convention on International Bills of Exchange and International Promissory Notes, 1988

CHAPTER I. - Sphere Of Application And Form Of The Instrument

Article 1

Article 2

Article 3

CHAPTER II. - Interpretation

Section 1. - General provisions

Article 4

Article 5

Article 6

Section 2. - Interpretation of formal requirements

Article 7

Article 8

Article 9

Article 10

Article 11

Section 3. - Completion of an incomplete instrument

Article 12

CHAPTER III. - Transfer

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Article 25

Article 26

CHAPTER IV. - Rights And Liabilities

Section 1. - The rights of a holder and of a protected holder

Article 27

Article 28

Article 29

Article `30

Article `31

Article `32

Section `2. - Liabilities of the parties

A. - General provisions

Article `33

Article `34

Article `35

Article `36

Article `37

B. - The drawer

Article `38

C. - The maker

Article `39

D. - The drawee and the acceptor

Article `40

Article `41

Article `42

Article `43

E. - The endorser

Article `44

F. - The transferor by endorsement or by mere delivery

Article `45

G. - The guarantor

Article `46

Article `47

Article `48

CHAPTER `V. - Presentment, Dishonour By Non-Acceptance Or Non-Payment, And Recourse

Section `1. - Presentment for acceptance and dishonour by non-acceptance

Article `49

Article `50

Article `51

Article `52

Article `53

Article `54

Section `2. - Presentment for payment and dishonour by non-payment

Article `55

Article `56

Article `57

Article `58

Section `3. - Recourse

Article `59

A. - Protest

Article 60

Article 61

Article 62

Article 63

B. - Notice of dishonour

Article 64

Article 65

Article 66

Article 67

Article 68

Section 4. - Amount payable

Article 69

Article 70

Article 71

CHAPTER VI. - Discharge

Section 1. - Discharge by payment

Article 72

Article 73

Article 74

Article 75

Article 76

Section 2. - Discharge of other parties

Article 77

CHAPTER VII. - Lost Instruments

Article 78

Article 79

Article 80

Article 81

Article 82

Article 83

CHAPTER VIII. - Limitation (Prescription)

Article 84

CHAPTER IX. - Final Provisions

Article 85

Article 86

Article 87

Article 88

Article 89

Article 90

[Post Provisions]

[Post Clauses (If any: Signed; Witnessed; Done; Authentic Texts; & Deposited Clauses)]

Annex - Explanatory Note by the UNCITRAL Secretariat on the United Nations Convention on International Bills of Exchange and International Promissory Notes *[NOTE]

Introduction

A. - Background To The Convention

B. - Salient Features Of The Convention

1. Scope of application and form of the instrument

2. Interpretation of the Convention

3. The concepts of "holder" and "protected holder"

4. Transfer warranties

5. Guarantees and avals

6. Other novel provisions of practical importance

7. Final clauses

Notes

*[NOTE]

Endnotes

Endnotes

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

UNCITRAL Convention on International Bills of Exchange and International Promissory Notes, 1988

United Nations (UN)

copy @ Lex Mercatoria

CHAPTER IV. - Rights And Liabilities

Section `2. - Liabilities of the parties

G. - The guarantor

Article `47

1. The liability of a guarantor on the instrument is of the same nature as that of the party for whom he has become guarantor.

2. If the person for whom he has become guarantor is the drawee, the guarantor engages:

(a) To pay the bill at maturity to the holder, or to any party who takes up and pays the bill;

(b) If the bill is payable at a definite time, upon dishonour by non-acceptance and upon any necessary protest, to pay it to the holder, or to any party who takes up and pays the bill.

3. In respect of defences that are personal to himself, a guarantor may set up:

(a) Against a holder who is not a protected holder only those defences which he may set up under paragraphs`1, 3 and`4 of article`28;

(b) Against a protected holder only those defences which he may set up under paragraph`1 of article`30.

4. In respect of defences that may be raised by the person for whom he has become a guarantor:

(a) A guarantor may set up against a holder who is not a protected holder only those defences which the person for whom he has become a guarantor may set up against such holder under paragraphs`1, 3 and`4 of article`28;

(b) A guarantor who expresses his guarantee by the words "guaranteed", "payment guaranteed" or "collection guaranteed", or words of similar import, may set up against a protected holder only those defences which the person for whom he has become a guarantor may set up against a protected holder under paragraph`1 of article`30;

(c) A guarantor who expresses his guarantee by the words "aval" or "good as aval" may set up against a protected holder only:

(i) The defence, under paragraph`1`(b) of article`30, that the protected holder obtained the signature on the instrument of the person for whom he has become a guarantor by a fraudulent act;

(ii) The defence, under article`53 or`article`57, that the instrument was not presented for acceptance or for payment;

(iii) The defence, under article`63, that the instrument was not duly protested for non-acceptance or for non-payment;

(iv) The defence, under article`84, that a right of action may no longer be exercised against the person for whom he has become guarantor;

(d) A guarantor who is not a bank or other financial institution and who expresses his guarantee by a signature alone may set up against a protected holder only the defences referred to in subparagraph`(b) of this paragraph;

(e) A guarantor which is a bank or other financial institution and which expresses its guarantee by a signature alone may set up against a protected holder only the defences referred to in subparagraph`(c) of this paragraph.


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