Simple bank bill

A simple bill, like any other of its kind, is considered a security and is a contract concluded in writing and evidence of the existence of a debt obligation to the creditor. The bill of a bank gives its holder the right to receive the amount specified in it after a certain period of time.

A simple bill provides for the existence of only two parties to the agreement: the drawer and the holder of the bill. The first is the borrower, who undertakes to repay the debt to the other party. The holder of the note is the party that holds the security and who has the right to demand payment of the debt after a fixed period of time.

Since a promissory note is considered a security of a unified form, it is necessary to have mandatory requisites when filling it. These include the names of the parties to the contract, their address and the required coordinates, the period after which you can get a loan, the designation of a particular place where the money will be refunded. And of course, this security must be certified by signatures of participants in the transaction, which proves their familiarization with the obligations and mutual consent.

If at least one of the above details is filled in incorrectly or completely absent, the document can be declared invalid. Then the drawer has the right to refuse to pay the debt on the basis of the non-compliance of the security with standard samples. However, there are some exceptions. For example, in the absence of a specific deadline for the repayment of a debt, the debt must be repaid at the first request of the creditor. And if the place of drawing up of the given agreement or a place of payment of a debt is not specified, then the address of the drawer, specified in personal data , is automatically considered such .

Any security must be filled by a specialist, since illiterate execution of a document is a significant risk. And first of all the creditor risks, because if the order of filling is violated, the simple bill becomes the standard receipt for debt collection. As you know, the receipt does not have such a significant legal force, so for the bill holder the risk of non-return of funds is high. In this situation, in the event of the borrower's refusal to satisfy the creditor's claims, the only way out will be to file a suit with the court.

The convenience of a simple bill is due to the absence of the need for acceptance of payments. From the moment of the due date of payment, the holder of the security must present it at the address specified in the bill not later than the next two days. In case of refusal of the debtor to pay the bill, immediately begin the process of filing a refusal with the notary. Another advantage of a single promissory note is that it is not an issue document. This gives the right to each subject to become a drawer, even an individual can, if desired, be able to write a simple bill.

At present, such securities have become one of the main instruments for consolidating the debt relations of the parties. Particularly actively this tool is used by banks and other credit institutions. According to statistical data, the promissory notes of Sberbank occupy a leading position in the market of related services. This is due to a high degree of confidence in the bank from customers. That is why the share of sales of bank bills significantly exceeds all other positions. Thus, Sberbank has already issued promissory notes worth more than thirty trillion rubles.

Thus, a simple bill is used to secure the loan agreement by many economic entities, banking organizations and even individuals. It is convenient to use, simple enough for understanding all citizens, therefore it is of great importance for the development of the country's economy as a whole.