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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 75

1. An instrument must be paid in the currency in which the sum payable is expressed.

2. If the sum payable is expressed in a monetary unit of account within the meaning of subparagraph`(l) of article`5 and the monetary unit of account is transferable between the person making payment and the person receiving it, then, unless the instrument specifies a currency of payment, payment shall be made by transfer of monetary units of account. If the monetary unit of account is not transferable between those persons, payment shall be made in the currency specified in the instrument or, if no such currency is specified, in the currency of the place of payment.

3. The drawer or the maker may indicate in the instrument that it must be paid in a specified currency other than the currency in which the sum payable is expressed. In that case:

(a) The instrument must be paid in the currency so specified;

(b) The amount payable is to be calculated according to the rate of exchange indicated in the instrument. Failing such indication, the amount payable is to be calculated according to the rate of exchange for sight drafts (or, if there is no such rate, according to the appropriate established rate of exchange) on the date of maturity:

(i) Ruling at the place where the instrument must be presented for payment in accordance with subparagraph`(g) of article`55, if the specified currency is that of that place (local currency); or

(ii) If the specified currency is not that of that place, according to the usages of the place where the instrument must be presented for payment in accordance with subparagraph`(g) of article`55;

(c) If such an instrument is dishonoured by non-acceptance, the amount payable is to be calculated:

(i) If the rate of exchange is indicated in the instrument, according to that rate;

(ii) If no rate of exchange is indicated in the instrument, at the option of the holder, according to the rate of exchange ruling on the date of dishonour or on the date of actual payment;

(d) If such an instrument is dishonoured by non-payment, the amount payable is to be calculated:

(i) If the rate of exchange is indicated in the instrument, according to that rate;

(ii) If no rate of exchange is indicated in the instrument, at the option of the holder, according to the rate of exchange ruling on the date of maturity or on the date of actual payment.

4. Nothing in this article prevents a court from awarding damages for loss caused to the holder by reason of fluctuations in rates of exchange if such loss is caused by dishonour for non-acceptance or by non-payment.

5. The rate of exchange ruling at a certain date is the rate of exchange ruling, at the option of the holder, at the place where the instrument must be presented for payment in accordance with subparagraph`(g) of article`55 or at the place of actual payment.


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