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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 VI. - Discharge

Section 1. - Discharge by payment

Article 72

1. A party is discharged of liability on the instrument when he pays the holder, or a party subsequent to himself who has paid the instrument and is in possession of it, the amount due pursuant to article`70 or article`71:

(a) At or after maturity; or

(b) Before maturity, upon dishonour by non-acceptance.

2. Payment before maturity other than under paragraph`1`(b) of this article does not discharge the party making the payment of his liability on the instrument except in respect of the person to whom payment was made.

3. A party is not discharged of liability if he pays a holder who is not a protected holder, or a party who has taken up and paid the instrument, and knows at the time of payment that the holder or that party acquired the instrument by theft or forged the signature of the payee or an endorsee, or participated in the theft or the forgery.

4. (a) A person receiving payment of an instrument must, unless agreed otherwise, deliver:

(i) To the drawee making such payment, the instrument;

(ii) To any other person making such payment, the instrument, a receipted account, and any protest.

(b) In the case of an instrument payable by instalments at successive dates, the drawee or a party making a payment, other than payment of the last instalment, may require that mention of such payment be made on the instrument or on a slip affixed thereto ("allonge") and that a receipt therefor be given to him.

(c) If an instrument payable by instalments at successive dates is dishonoured by non-acceptance or by non-payment as to any of its instalments and a party, upon dishonour, pays the instalment, the holder who receives such payment must give the party a certified copy of the instrument and any necessary authenticated protest in order to enable such party to exercise a right on the instrument.

(d) The person from whom payment is demanded may withhold payment if the person demanding payment does not deliver the instrument to him. Withholding payment in these circumstances does not constitute dishonour by non-payment under article`58.

(e) If payment is made but the person paying, other than the drawee, fails to obtain the instrument, such person is discharged but the discharge cannot be set up as a defence against a protected holder to whom the instrument has been subsequently transferred.


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