If a commercial acceptance draft is refused payment, how can I exercise my right of recourse? After reading the direct collection, recently, due to the thunderstorm of various real estate, resulting in a large number of commercial tickets refusal, this article will introduce the commercial ticket refusal, how should we operate in the electric ticket system to protect our rights?
If a commercial acceptance draft is refused payment, how can I exercise my right of recourse? After reading the direct collection
Recourse is divided into non-chargeback recourse,
Chargeback refers to the act of being refused payment after the electronic commercial acceptance bill expires, and the bearer requests payment by the previous hand (generally after 10 days after the bill is due, after the issuer refuses to pay, the status of the bill will become a reminder that the payment has been refused (the owner can be recovered from the chargeback)
Non-chargeback refers to the act of the bearer requesting payment by the previous hand in one of the following circumstances:
(1) The bill of exchange is refused acceptance
(2) The acceptor or payer dies or escapes;
(3) The acceptor or payer is declared bankrupt in accordance with law or ordered to terminate business activities due to illegality)
Timeliness of recourse:
The time of recourse by the bearer against the forehand is six months from the date of refusal of acceptance or refusal of payment
The rights of the bearer to the issuer and the acceptor of the instrument shall be two years from the date of maturity of the instrument.
Targets of recourse:
The bearer of the ticket may, in the order of endorsement, recourse to all endorsers or any endorsers, drawers, acceptors, and guarantors, without following the order of endorsement.
Note special cases:
(1) The bearer of the ticket is the drawer and has no right of recourse to his predecessor
Take a chestnut: Issuer A issues a commercial acceptance bill to B, the acceptor is C, B endorses the ticket to D, D endorses E, suppose E endorses A, and when the bill is refused, A may not exercise recourse against BCD
(2) Return tickets
Explanation of the return ticket: Issuer A issues a commercial acceptance bill of exchange to B, the acceptor is C, B endorses the ticket to D, D endorses E, assumes that E endorses to C, the bill is reversed, and when the bill is refused, B as the bearer can only exercise recourse against A and C, and may not exercise recourse against D and E.
Amount recovered:
The bearer exercises the right of recourse by allowing the recourse to pay the following amounts and fees:
(1) The amount of the bill of exchange that was refused payment
(2) Interest calculated at the interest rate prescribed by the State from the due date of the bill of exchange or the date of prompt payment to the date of repayment
(3) The cost of obtaining the relevant refusal certificate and issuing the notice
Recourse:
If bearer D pursues not the ultimate debtor (issuer and acceptor), but one of the endorsers C, C is relieved of D's liability after paying off the bearer, then C can travel recourse to the front hand.
Limitation of the right of recourse: three months from the date of settlement or the date of the action being brought.
Recourse operation process (China CITIC Bank as an example)
(1) Make a single login to the corporate online banking system of China CITIC Bank, and enter the electronic bill - notice of recourse and consent to liquidation - notice of recourse - handling
(2) Select the recourse type, select the time, point query, and filter out the corresponding tickets
(3) Select the corresponding bill, fill in the amount of recourse, the person being pursued, the person being pursued has multiple needs to make more than a few times
(4) After clicking Submit, it will take effect after review/authorization by authorized personnel. After you complete the above steps, you can query the current ticket status.
(5) The status of the bill changes to a chargeback to be repaid
Agree to the notice of liquidation: (Since xiaobian has no data here, just take a simple screenshot)
1. Electronic Bill - Notice of Recourse and Consent to Settlement - Consent to The Application for Settlement
2. After entering the click query, there are bills to be recovered by other bearers from your company.
3. Select the bill in the list of bills, fill in the amount of agreed liquidation, the default is the face amount, which can be modified here, click Submit, and take effect after review/authorization by the review/authorization personnel.
4. After the person being pursued completes the operation of agreeing to pay off, he shall notify the original recourse to sign for receipt.
The recourse signs for receipt
Note: After confirming that the recourse has received the payment from the recourseed, the recourse needs to agree to the payment and receipt of the note in the online banking operation (if the other party does not pay you, you will lose the right to the note after you perform this step.)
The operation steps still need to be handled and reviewed
Source: Ren Enlin, Zhao Weizhe, ed., Handbook of Physical and Risk Control of Commercial Bills of Exchange, 2020.4, China Finance Press
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