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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of August 20, 1996 No. 352

About approval of provisional regulations "About circulation of bills in the Republic of Tajikistan"

For the purpose of enhancement of the mechanism of the monetary address the Government of the Republic of Tajikistan decides:

1. Approve the enclosed provisional regulations "About circulation of bills in the Republic of Tajikistan".

2. To National Bank of the Republic of Tajikistan to submit the bill of the Republic of Tajikistan within 3rd monthly term "About circulation of bills".

 

Prime Minister

Republic of Tajikistan E.Rakhmonov

Approved by the Order of the Government of the Republic of Tajikistan of August 20, 1996 No. 352

Regulations on circulation of bills in the Republic of Tajikistan

Section I. General provision

1. The regulations on circulation of bills in the Republic of Tajikistan regulate the questions connected with issuance of the bill of exchange, concept about the translated and promissory note, etc.

2. The bill of exchange the document constituted in the form established by this Provision and containing unconditional abstract monetary commitment; security, kind of credit money.

3. In circulation of bills the following terms are used:

In circulation of bills apply idle time and bill of exchange.

The promissory note represents nothing not caused obligation of the drawer to pay certain amount of money to the holder on approach of term.

The bill of exchange (BILL OF EXCHANGE) contains the written order of the drawer (DRAWER) addressed to the payer (DRAWEE) about payment of the amount of money specified in the bill of exchange to the third party - the bill holder (PAYEE). The drawer becomes bill debtor only after accepts the bill of exchange, that is agrees to its payment, having appended on it the signature (Accepted bill).

The aval - the bill order owing to which person (Guarantor) who made it accepts responsibility for accomplishment of obligations any of persons obliged on the bill of exchange - the acceptor, the drawer, indensaty, is drawn up or the guaranteed signature of the guarantor on the bill of exchange or on additional leaf (Allonge), or issue of the separate document.

The allonge the writ of execution of paper attached to the bill of exchange on which neredatochny texts if on the back bills of exchange they do not find room are made. On the allonge also the aval can be made.

The accepted bill - the bill of exchange the having acceptance (consent) of the payer (Trasat) to its payment. The acceptance is drawn up by text on the bill of exchange ("Is accepted", "accepted", "I promise to pay", etc. and the signature of the drawee.

The bronze bill of exchange - the bill of exchange which does not have real providing, written out on fictional person.

The friendly bill of exchange - the bill of exchange issued by one person to another without intention of the drawer to make on them payment, and only for the purpose of research of money by mutual accounting of bills of exchange in bank. Friendly bills of exchange are issued by people certainly trusting each other.

The blank endorsement - endorsement to bearer, can consist of only one signature of the endorsee.

Person owning the document on blank endorsement has the right to fill in the form on its own behalf or name of other person, to endorse the document by means of complete or blank endorsement, to transfer to the new holder by simple delivery.

The bill holder - the owner of the bill of exchange having the right to the amount of money specified in it. The bill holder designated as the receiver in the bill of exchange is called the first bill holder (Payee).

Bill tag - one of details of bill of exchange: the name "bill of exchange" included in the text written in that language in which the document is constituted.

Grace days - the preferential days provided by the bill legislation of number of the countries on which the payment due date specified on the bill of exchange is extended.

Discount of Bills of exchange - in banking practice the discount rate levied by banks when accounting bills of exchange; represents the difference expressed as a percentage between the amount of the bill of exchange and the amount paid by bank upon purchase of the bill of exchange before maturity.

The discount levied by Central Bank from credit institutes in case of inventory of commercial bills is official discount rate.

The Domitsilorovanny bill of exchange - the bill of exchange having clause that it is subject to payment by the third party (DOMITsILIATOM) in the residence of the payer or in other place.

Such clause is put down on the bill of exchange of drawers. If domitsiliat in it it is specified, he can be called the payer in case of the acceptance.

The domiciled bill is shown for payment to domitsiliat which is not face, responsible for the bill of exchange, and only timely meets bill at the expense of the payer who provided necessary means in its order.

The endorsement - the endorsement on security, the bill of exchange, the check, the bill of lading, etc. certifying transition of the rights according to this document to other person. It is put down usually on the back the document or on additional leaf. Person making the endorsement is called indessant.

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