Subsection 2: Payment by intervention.

Payment by intervention may take place in all cases where, either on the due date or before the due date, recourse is open to the bearer. Payment must include all the sum that would have to be paid by the person for whom it takes place. It must be made no later than the day after the last day admitted for the making of the protest in the absence of…

If the bill of exchange has been accepted by parties having their domicile in the place of payment or if persons having their domicile in that same place have been indicated to pay if necessary, the bearer must present the bill to all such persons and have a protest drawn up, if necessary, in default of payment at the latest on the day following the last day admitted for the…

A holder who refuses payment by intervention forfeits his recourse against those who would have been released.

Payment by intervention must be evidenced by an acknowledgment given on the bill of exchange, with an indication of the person for whom it is made. In the absence of this indication, the payment is deemed to have been made for the drawer. The bill of exchange and the protest, if one has been drawn up, must be remitted to the payer by intervention.

The payer by intervention acquires the rights resulting from the bill of exchange against the person for whom he has paid and against those who are bound vis-à-vis the latter by virtue of the bill of exchange. However, he may not endorse the bill of exchange again. Endorsers subsequent to the signatory for whom payment has been made are discharged. In the event of competition for payment by intervention, the…