【正文】 依據(jù)（ Drawn Clause） ? 免作退票通知或放棄拒絕證書（ Notice of Dishonor Excused or Protest Waived） ? 付一不付二 ? 預(yù)備付款人（ Referee in case of need） Items at will Comprises : 1） to draw and sign a bill。 2） to deliver it to the payee According to the negotiable instrument law： ? The bill should be plete in form stipulated by the negotiable instrument law in the place of issue； ? By drawing a bill,the drawer engages that on due presentment the bill will be accepted and paid and that, if dishonored, he will pensate the holder。 Issue payee payer drawer ? The payee or holder signs on the back of the bill and delivers it to the endorsee Endorsement Notes: ?A valid endorsement should be an endorsement of the entire bill。 ?By endorsing an instrument,the endorser guarantee that on due presentment the bill shall be accepted and paid as specified. Types ： 1) Special endorsement 記名背書 /特別背書 /正式背書 /完全背書 Pay to the order of E Co., New York(the endorsee) For A BC Co., New York (the endorser) Signature (of the endorser) 2) Blank endorsement 空白背書 3) Restrictive endorsement 限制性背書 Pay to A only/not transferable/not negotiable/pay to A bank for account of B Co. 4) Endorsement for collection 委托取款背書（托收背書） 5) Endorsement for pledge質(zhì)押背書 endorsee endorser date A First endorsement C B Second endorsement C Third endorsement E D Fourth endorsement ? Types presentation for acceptance: a usance draft presentation for payment: a sight/ usance draft ? Occasions on which bills must be presented for acceptance (1) Time bill after sight (2) Time bill after date (3) A time bill stipulates that it must be presented for acceptance (4) A time bill, payable at a place other than that of the drawee Presentation must be made within the reasonable time. Presentation ? The drawee sign on the face of bill, and deliver it to the person presenting for acceptance, by which the drawee shows his assent to the order of drawer ? Forms ： the word “accepted”。 date。 signature of the drawee ? Types ： ? general acceptance: without any qualification ? qualified acceptance: 1) a conditional acceptance . accepted payable providing goods in order。 accepted payable at some place (local acceptance)。 payable at a longer time after date 2) partial acceptance 3) Local acceptance 4) Time acceptance Acceptance ? This act is usually performed by a third party called guarantor, who engages to pay on presentment for a sight bill and accept and pay at maturity for a time bill. Guarantee Notes: 1） the guarantor stands for a debtor such as drawer, endorser,or acceptor and assumes his indebtedness to the holder 2） when the guarantor is pelled to pay, his right of recourse arises against the guaranteed and all the prior parties of the guaranteed. ? “ Honor” the process in which the drawee effects payment or acceptance when a bill is presented to him for payment or for acceptance. ? Notice of Dishonor an advising act taken by the holder to all endorsers about the dishonor in writing or in words Honor and dishonor ? In the event of a draft being dishonored, the holder in due course can sue every person who signed the draft prior to him. ? Qualifications to exert and preserve the right of recourse: ? Completeness in form of the draft ? Presenting for acceptance and payment on the due time ? Notice of dishonor拒付通知 ? Protest拒絕證書 圖示 If any party in the chain writes “without recourse” on the draft when the draft is transferred to him, he is discharged from the liability and the party concerned has no right of recourse against him. Recourse a formal legal procedure, which goes some way towards protecting the seller’s rights: After a bill is dishonored and a notice of dishonor is given, the holder may hand the bill again to a notary party who will present it again to the drawee so as to obtain a legal proof of the act of dishonor. If it is dishonored again, the notary party then will draw a protest (which is an official certificate that evidences the dishonor and states why the protest is made) and return it to the holder together with the bill, against which the holder may exercise his right of recourse against the prior parties. Protest Drawer A Payee B give the notice Endorsers C,D,E, each gives notice in turn Holder F gives the notice Acceptor H dishonors the bill ? Discounting is to sell a time bill already accepted by the drawee but not yet fallen due to a financial institution at a price less than its face value. ? Calculating formula： D=Vх tх d/360 N= V D D:discount interest V:face value t:tenor d:discounting rate(n% .) N: proceeds ? Creditworthiness: ? Standing of the drawer and the accepter ? Drawn clause showing the reason for issuing the draft Discounting of bills of exchange