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Ministry of Justice of Ukraine

February 28, 2003 

No. 174/7495

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 16, 2002 No. 508

About approval of the Regulations on procedure by banks of transactions with bills of exchange in national currency in the territory of Ukraine

(as amended on 04-09-2018)

According to article 7 of the Law of Ukraine "About the National Bank of Ukraine" and in connection with adoption of law of Ukraine "About the circulation of bills of exchange in Ukraine" the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on procedure by banks of transactions with bills of exchange in national currency in the territory of Ukraine it (is applied).

2. Declare invalid the resolution of Board of the National Bank of Ukraine of 28.05.99 No. 258 "About approval of the Regulations on transactions of banks with bills of exchange" (with changes).

3. To department of payment systems after state registration in the Ministry of Justice of Ukraine to bring this Provision to permission of territorial administrations of the National Bank of Ukraine and banks of Ukraine for use in work.

To banks to bring the specified Provision to permission of the clients.

4. To impose control of execution of this resolution on territorial administrations of the National Bank of Ukraine.

5. The resolution becomes effective in 10 days after its state registration in the Ministry of Justice of Ukraine.

Chairman
V. S. Stelmakh

Approved by the Resolution of Board of the National Bank of Ukraine of December 16, 2002 No. 508

Regulations on procedure banks of transactions with bills of exchange in national currency in the territory of Ukraine

This Provision is developed according to the Unified bill of exchange act and promissory notes, the Laws of Ukraine "About securities and and the stock market", "About state regulation of the security market in Ukraine", "About banks and banking activity", "About the National Bank of Ukraine", "About payment systems and money transfer in Ukraine", "About the circulation of bills of exchange in Ukraine", other laws and regulatory legal acts regulating circulation of bills.

1. General provisions

1.1. The provision establishes general rules, procedure for carrying out and implementation of transactions by banks with the bills of exchange issued and which are subject to payment in the territory of Ukraine in national currency.

1.2. Terms in this Provision are used in such value:

the guarantor - the legal entity or physical person guaranteeing payment of the bill of exchange;

the aval - the bill guarantee according to which person (guarantor) performing it takes the responsibility to the owner of the bill of exchange for accomplishment by the drawer, the acceptor or the endorsee of obligations concerning payment of this bill of exchange. The aval is put into words by "consider the aval" or any other equivalent formulation, drawn up on the bill of exchange or on the allonge, signed by the guarantor;

avalization - execution of the aval by legal entity or physical person on the bill of exchange, i.e. adoption of the obligation to meet bill fully or partially for one of persons obliged on the bill of exchange in case of non-payment of the bill of exchange the payer in time or if there is no opportunity to receive payment on the bill of exchange in time;

the bill acceptance - the payer's text on bill of exchange (bill of exchange) about consent to payment;

the bill acceptor - legal entity or physical person which accepts (signs) the bill of exchange (bill of exchange), assuming liabilities to make payment according to bill of exchange during maturity;

the allonge - the sheet of paper which is attached to the bill of exchange for additional endorsements (transfer records) if they are not located on reverse side of the bill of exchange. The first transfer entry on the allonge is made across connection of the bill of exchange and additional leaf i.e. so that it began on the bill of exchange and came to an end on the allonge. On the allonge it is possible to draw up the aval also;

the bank collecting - any bank, except remitting bank, participating in transaction on collection of the bill of exchange;

bank bearer - the collecting bank performing presentation of bills of exchange and accompanying documents to the payer;

remitting bank - bank to which the consignor charged transaction on collection of the bill of exchange;

continuity of number of endorsements - consecutive number of endorsements through which each endorsee receives the bill of exchange according to the endorsement for own name, blank endorsement or the endorsement to bearer;

the beneficiary - legal entity or physical person for benefit of which perform confidential functions and being the receiver of the income or payment on the bill of exchange;

the drawer - the legal entity or physical person which issued idle time or bill of exchange;

the bill holder - the legal entity or physical person owning the bill of exchange issued or endorsed this person or on his order, or endorsed to bearer or by blank endorsement, or based on other legitimate rights;

the bill holder the first - person addressed to whom the bill of exchange is written out and by order of which it is necessary to pay certain amount of money for this bill of exchange;

the bill of exchange - the security certifying unconditional monetary commitment of the drawer to pay in certain time certain amount of money to the owner of the bill of exchange (bill holder);

the domiciled bill - the bill of exchange in which the specified place of payment does not match the residence of the bill holder;

the bill of exchange the non-resident - the bill of exchange which is subject to payment in other settlement than the location of the bill holder;

the local bill - the bill of exchange which is subject to payment in the location of the bill holder;

the bill of exchange protested - the bill of exchange concerning which the bill holder notarially certified refusal of the debtor of payment or the acceptance of this bill of exchange;

bill of exchange - the bill of exchange containing the written order of one person (legal or physical) to other person to pay in the specified time certain amount of money to the third party;

the promissory note - the bill of exchange containing the obligation of the drawer to pay in the specified time certain amount of money to the owner of the bill of exchange (bill holder);

accounting of the bill of exchange - acquisition of the bill of exchange by bank before maturity on it at the bill holder for money with discount;

accounting of the bill of exchange nonrecourse - kind of accounting in case of which the bearer of the bill of exchange is disposed from number of persons obliged on the bill of exchange that is performed by making by the bearer in the text of the endorsement of nonrecourse caution (implementation of the nonrecourse endorsement) or by transfer of the bill of exchange to bank by the bearer without making of the endorsement if the last blank endorsement or to bearer;

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