SharkBank
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The bill received wide circulation in inter-farm and interbank circulation, it can rightfully be considered the first European payment instrument. Historically, a bill (in German - "exchange") arose in the XII-XIV centuries in Florence as an exchange letter addressed to a banker in another city with an instruction to give the bearer of this paper an amount in foreign currency equivalent to that which the merchant paid in Florence, in the local currency. This form of settlement ("exchange letter") reduced the risk of losing money or robbery. Bankers subsequently settled their settlements by offsetting counterclaims [Shmelev, 2006 |.
At first, the bill performed mainly payment functions, when all issued bills were covered with coins, which the banks accepted for safekeeping. Then he became an instrument for providing credit. The spread of promissory notes in economic circulation required the development of generally accepted rules for the issue, circulation and payment of this type of securities. A bill of exchange law arose. The Bill of Exchange Act, adopted in England in 1882, had a great influence on the development of the legal basis for circulation of bills of exchange. Its laws on bills of exchange were adopted at the end of the 19th century and in other European countries - Belgium, Italy, Norway , Prussia, Sweden, etc. In modern conditions, legislation on bills is part of commercial law.
The active use of bills of exchange in international trade contributed to the formation of international norms of bill of exchange law. In 1930, the “Uniform Bill and Bill of Exchange Act” was adopted in Geneva. It is used in the legislation of many countries, in particular Germany, Belgium, Austria, Scandinavian countries, Denmark, France, the Netherlands, as well as Russia and the CIS countries, a number of countries in Asia, Africa and Latin America.
Countries using English law (Great Britain, the United States and countries in their sphere of influence - India, Canada, Cyprus, New Zealand, South Africa, etc.) have not joined the document. In addition, a number of countries use the provisions of French law laid down by the Napoleonic code (France, Spain, Egypt, Iran, a number of African and Asian countries).
Some important features of a bill of exchange should be pointed out .
At first, the bill performed mainly payment functions, when all issued bills were covered with coins, which the banks accepted for safekeeping. Then he became an instrument for providing credit. The spread of promissory notes in economic circulation required the development of generally accepted rules for the issue, circulation and payment of this type of securities. A bill of exchange law arose. The Bill of Exchange Act, adopted in England in 1882, had a great influence on the development of the legal basis for circulation of bills of exchange. Its laws on bills of exchange were adopted at the end of the 19th century and in other European countries - Belgium, Italy, Norway , Prussia, Sweden, etc. In modern conditions, legislation on bills is part of commercial law.
The active use of bills of exchange in international trade contributed to the formation of international norms of bill of exchange law. In 1930, the “Uniform Bill and Bill of Exchange Act” was adopted in Geneva. It is used in the legislation of many countries, in particular Germany, Belgium, Austria, Scandinavian countries, Denmark, France, the Netherlands, as well as Russia and the CIS countries, a number of countries in Asia, Africa and Latin America.
Countries using English law (Great Britain, the United States and countries in their sphere of influence - India, Canada, Cyprus, New Zealand, South Africa, etc.) have not joined the document. In addition, a number of countries use the provisions of French law laid down by the Napoleonic code (France, Spain, Egypt, Iran, a number of African and Asian countries).
Some important features of a bill of exchange should be pointed out .