Commercial Papers Presentation PDF

Negotiable  Instruments The law of negotiable instruments is a field of law that regulates certificates/negotiable instruments which embody money, partnership rights and other rights such as “commercial papers” (kambiyo senetleri) and share certi...

Negotiable  Instruments The law of negotiable instruments is a field of law that regulates certificates/negotiable instruments which embody money, partnership rights and other rights such as “commercial papers” (kambiyo senetleri) and share certificates.  Thus, every certificate which is a negotiable instrument must contain an inherent right (mündemiç hak) such as a monetary claim (alacak hakkı), a share ownership right (ortaklık hakkı) or a real estate right (eşya hukuku hakkı). Commercial Papers (Kambiyo Senetleri) Bill of Exchange (Poliçe) Promissory Note (Bono) Check (Çek)  Bill of Exchange (Poliçe) Drawer Drawee (Düzenleyen (Muhatap) ) Payee (Lehdar) A bill of exchange contains the following:  The term “bill of exchange (poliçe)” inserted in the body of the instrument and expressed in the language employed in drawing up the instrument,  An unconditional order to pay a determinate sum of money,  The name of the person who is to pay (drawee),  The date of maturity. A bill of exchange may only employ one of the following maturities: Payable at sight, at a fixed period after sight, at a fixed date and at a fixed period after the date of drawing (keşide günü).  The place where payment is to be made,  The name of the person whom or whose order payment is to be made,  The date and the place of issue,  The signature of the person who issues the bill (drawer). Bill of Exchange (Poliçe) Sample İstanbul, 05.05.2025 Bu poliçe karşılığında Ali Yılmaz veya emrine 06.06.2026’da yalnız 100.000 TL ödeyiniz. (Pay Ali Yılmaz or his order only the sum of 100,000 TL on 06.06.2026, under this bill of exchange.) Muhatap (Drawee) : Mutlu Taş Ödeme Yeri (Place of Payment) : İstanbul Düzenleyen (Drawer) Kenan Gül (imza/signature)  Promissory Note (Bono) Drawer Payee (Düzenleye (Lehdar) n) A promissory note contains the following:  The term “promissoy note (bono)” inserted in the body of the instrument and expressed in the language employed in drawing up the instrument,  An unconditional promise to pay a determinate sum of money,  The date of maturity,  A statement of the place where payment is to be made,  The name of the person to whom or whose order payment is to be made,  The date and place of issue,  The signature of the person who issues the note (drawer). Promissory Note (Bono) Sample İstanbul, 05.05.2025 Bu bono karşılığında Ali Yılmaz veya emrine 06.06.2026’da yalnız 100.000 TL ödeyeceğim. (I will pay Ali Yılmaz or his order only the sum of 100,000 TL on 06.06.2026, under this promissory note.) Ödeme Yeri (Place of Payment) : Rıhtım Cad. No: 11 Kadıköy/İstanbul Düzenleyen (Drawer) Kenan Gül (imza/signature)  (Check) Çek Drawer Drawee (Düzenleyen (Muhatap) ) Payee (Lehdar) A check contains the following:  The term of “check/cheque (çek)” inserted in the body of the instrument and expressed in the language employed in drawing up the instrument,  An unconditional order to pay a determinate sum of money,  The commercial name of the bank which is to pay the check (drawee bank),  The place where the payment is to be made,  The date and the place of issue,  Serial number issued by the bank,  QR code,  The signature of the person who issues the check (drawer). In addition to the above, there are some formal conditions in the Check Law No. 5941 such as the check account number, the branch of the drawee bank and the tin number of the drawer. Also, there must be a check agreement between the drawer and the drawee. Check (Çek) Sample Yapı ve Kredi Bankası A.Ş. İstanbul, İstanbul Şubesi (İstanbul Branch) 05.05.2025 2400 Hesap No (Account Number) : 148 32 64 Vergi Kimlik No (Tin Number): 131 385 4215 Bu çek karşılığında Ali Yılmaz veya emrine yalnız 100.000 TL ödeyiniz. (Pay Ali Yılmaz or his order only the sum of 100,000 TL under this check.) Seri No: Düzenleyen (Drawer) Kenan Gül (imza/signature) The main differences between a check, a bill of exchange and a promissory note:  A check is a payment instrument, while a bill of exchange and a promissory note are credit instruments.  In a check, there is a tripartite relationship, similar to that in a bill of exchange; however, under Turkish law, the drawee of the check must be a bank.  A check is payable on demand, and any notation or date written contrary to this is considered invalid. However, a bill of exchange and promissory note have a maturity date.  A check can be made payable to bearer in terms of its transfer. However, a bill of exchange and a promissory note cannot be made payable to bearer; specifying the payee is a requirement for the validity of these instruments.  Acceptance is invalid in a check. In a bill of exchange, the drawee's acceptance is required. However, in a promissory note, the issuer personally undertakes the payment, and there is no acceptance process.  It is possible to cancel a check. However, this is not the case with a bill of exchange or a promissory note.  Intervention is not possible in a check. However, intervention is allowed in a bill of exchange and a promissory note.  The non payment of a check due to insufficient funds may lead to both legal and criminal liability. However, in the case of a bill of exchange and a promissory note, non payment of the instrument does not require a criminal sanction.  The Turkish Commercial Code (TCC) regulates all three types of commercial papers; however, there is also the Check Law No. 5941 specifically governing checks.