Once the commercial bill is refused to be paid when it expires, who can be pursued by the right of recourse of the acceptance bill? As a bearer, it is necessary not to know that after the commercial bill is refused, the holder can seek recourse from the following subjects.
1. The endorser of the previous hand. The bearer has recourse against all former endorsers to take responsibility for payment. All prior endorsers are those who have signed and sealed this bill of exchange and transferred the rights to the bill.
2. Acceptor. The bearer can seek recourse from the acceptor and require it to bear the responsibility for payment. An acceptor is a person or institution that promises to pay the amount of the bill of exchange to the bearer on the maturity date of the bill, usually by signing or stamping the bill.
3. Drawer. The bearer can also seek recourse from the drawer to bear the responsibility for payment. The drawer is a person or institution that issues a bill of exchange and promises to pay the amount of the bill of exchange on its due date.
4. Other debtors. The bearer can also have recourse against other debtors, such as guarantors, pledgees, etc.
In the process of recourse, the bearer needs to provide corresponding evidence, such as the commercial bill itself, proof of refusal to pay, proof of identity of the endorser, etc. If the recourse is unsuccessful, the bearer can take legal means to protect their rights and interests, such as suing all the former endorsers, acceptors or drawers.
It should be noted that after the commercial bill is refused, the bearer needs to take timely action within the limitation period of the right to the bill to avoid causing greater losses to itself. In the event of refusal to pay a commercial bill, it is recommended that the bearer consult a professional lawyer or bill expert in a timely manner to formulate an appropriate recourse litigation plan.
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