BOOK V: Commercial paper and guarantees.

When the last day of the period allowed for the completion of the act of notification of the non-execution of the money transfer order or postal cheque is a public holiday, this period is extended until the first working day following its expiry. Intermediate public holidays are included in the calculation of the period. Legal public holidays are treated in the same way as days on which, under the laws…

The bearer must give notice of non-acceptance or non-payment to his endorser within four working days following the day of the protest or the day of presentation in the case of a no-cost return clause. Notaries and bailiffs are required, under penalty of damages, where the bill indicates the name and domicile of the drawer of the bill of exchange, to notify the drawer within forty-eight hours of registration, by…

The drawer, an endorser or a guarantor may, by the clause “return without charge”, “without protest” or any other equivalent clause inscribed on the bill of exchange and signed, exempt the bearer from having a protest drawn up in order to exercise his remedies, in the absence of acceptance or in the absence of payment. This clause does not exempt the bearer from presenting the bill of exchange within the…

All those who have drawn, accepted, endorsed or guaranteed a bill of exchange are jointly and severally liable to the bearer. The bearer has the right to act against all these persons, individually or collectively, without being obliged to observe the order in which they have obliged themselves. The same right belongs to any signatory of a bill of exchange who has redeemed it. An action brought against one of…

I. – The bearer may claim from the person against whom he is exercising his recourse: 1° The amount of the bill of exchange not accepted or not paid with interest, if this has been stipulated; 2° Interest at the legal rate from the due date; 3° The costs of the protest, those of the notices given as well as other costs. II. – If recourse is exercised before the…

He who has repaid the bill of exchange may claim from his guarantors: 1° The full sum he has paid; 2° Interest on the said sum, calculated at the legal rate, from the day he disbursed it; 3° The costs he has incurred.

Any obligor against whom recourse is exercised or who is exposed to recourse may demand, against reimbursement, the surrender of the bill of exchange with the protest and an acquitted account. Any endorser who has reimbursed the bill of exchange may strike out his endorsement and those of subsequent endorsers.

If recourse is exercised after partial acceptance, the person who reimburses the sum for which the letter was not accepted may require that this reimbursement be mentioned on the letter and that he be given a receipt for it. The bearer must also provide him with a certified copy of the letter and the protest to enable subsequent recourse to be exercised.

I. – After the expiry of the time limits fixed: 1° For the presentation of a bill of exchange at sight or at a certain time of sight; 2° For the making of the protest in default of acceptance or in default of payment; 3° For presentation for payment in the case of a clause of return without charge, the bearer forfeits his rights against the endorsers, against the drawer…

When the presentation of the bill of exchange or the making of the protest within the prescribed time limits is prevented by an insurmountable obstacle such as the legal prescription of any State or any other case of force majeure, these time limits shall be extended. The bearer is required to give notice of the case of force majeure to his endorser without delay and to mention this notice, dated…