Commercial Documents اسناد تجاری

Commercial Documents

Commercial Documents

Commercial documents are divided into two categories, normal and official, in terms of credit. In legal terms, a document is a writing that can be cited in court and can be used to prove a contract and commitment. There is no specific definition for a commercial document, but commercial documents can be described as replacing cash and they are used for payment.
In fact, they are widely used in business and commercial relations.

We must know that a commercial document is a written document that has the support of the legislator and includes commercial attributes in addition to commercial use. According to the definition that was stated, only promissory note, bill of exchange, check have these characteristics.

Commercial Documents اسناد تجاری
Commercial Documents (C.D)

Characteristics of Commercial Documents

Commercial documents, according to their specific definition and concept, which include promissory note, bill of exchange, check, have characteristics in the law, the most important of which we will state.

1. Assign ability

This feature allows owners of business documents to easily transfer them to another. If the commercial document is written in bearer currency, it is easily transferred by making transactions. But if it is in the name of a specific person, it can be handed over if that person backs and signs the document.

2. Reflecting in the Document

We must know that the commercial document is not the property itself, but is considered a representative of the property. It is the introducer of the claim that is written in it, and the owner of the document must present it to prove his/her claim. Of course, for the preparation of these documents, conditions have been determined by the legislator, if they are not used, the document is not valid.

3. Timeline

The owner of the commercial document must take action to collect his/her right within a certain period of time. Otherwise, his/her complaint cannot be processed and the reason is that a right that has not been claimed for a long time is not considered a living and fixed right. According to the law, the right claim period is 5 years from the time of issuing the non-payment certificate or the time of the last legal action. But if the debtor acknowledges his/her debt during this period, this time is calculated from the date of his/her acknowledgment.

4. Legal Benefits

Having legal benefits is the most important feature of a commercial document. These benefits include:

a. The Right to Choose the Court

That is, the holder of the document can refer to one of the courts in the place of residence of the issuer’s document to file a complaint.

b. Demand Supply Request

If the holder of the document files a lawsuit within the legal time and obtains a certificate of non-payment, he/she can make an appointment to satisfy the demand and seize the property of the issuer of the document without paying damages. It should be mentioned that the specific legal deadline for this work regarding promissory notes and bills of exchange is ten days. And for a check, if the place of issue and payment is in the same city, within 15 days, and if it is in two different cities, within 45 days, a certificate of non-payment must be received.

c. Joint Liability for Commercial Document Officials

That is, if the holder of the document is not paid, each person responsible for that document is a guarantor for the entire document, and if one of them pays the amount, the guarantors are relieved of their responsibility.

Shape Aspect

In the law, there is a special form for the regulation of commercial documents, which must be followed by the exporter. If they are not complied with, these documents are no longer commercial and do not enjoy the protections of the commercial law regarding commercial documents. For example, in the commercial law, it is stated that in order to draw up a promissory note, the date of issuance, date of payment, amount in all letters, recipient’s name and seal or signature of the issuer must be entered. Otherwise, the promissory note is just a normal civil promise and does not enjoy the benefits of commercial law.

Types of Commercial Documents

1. Promissory Note

According to Article 307 of the Trade Law, a promissory note is a document on the basis of which the exporter undertakes to pay an amount on a specified date or on demand in a specified person’s currency or bearer.
In addition, we must know that the holder of the promissory note must take action to collect it within a specified time, and if the money is not paid to him/her, he/she must take action for a request or protest within a maximum period of ten days. A request is a complaint that is filed against the exporter and must be sent to him/her on special sheets.

2.Bill of Exchange

It is a document according to which the issuer instructs another person to present a certain amount to a third party or his/her remittance at a specified time or upon demand. We should know that bill of exchange is one of the most important means of payment and commercial documents, which plays an important role in obtaining credit in domestic and foreign transactions.
A person who owes money to another person and has money with the other person whose payment receipt has not yet arrived, can entrust the payment of his/her debt to the person who has money with him/her by means of a bill of exchange and in this way, save money in one round of transfer.

3. Cheque

It is a commercial document in which the issuer can pay an amount from his/her account balance in the bank to the intended person at a certain time.

According to the law, the place and date of issuance and the amount must be written in letters and numbers in the check and signed by the issuer. Also, its payment should not have a promise.

Up To Sum

Because business transactions are closely related to business documents and we are constantly faced with the exchange of these documents, learning the rules governing these documents is necessary to conduct safe transactions.


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