Bill of exchange is one of the most significant securities before departing from its importance it has in the domestic market and in international trade.

Starting on the part of the bill, Walter Martin Helwich says that the bill of exchange is regulated as domestic regulations and the three international conventions, which regulate the regime of its issuance, the rights and obligations of all participants in the bill as any disputes from its rights, the way they dismissal and the remedies which are used in case of violation of these rights and obligations.

Mr. Helwich explains that the bill of exchange historically appeared a certain degree of social and economic development of small states in the then Archaic Period and in the Middle Ages, due to the increasing development of international trade where goods purchased from abroad should be paid in the currency of the foreign country. Thus arose the need to pay not paid in cash but by giving the so-called written document by which the labeled amount could be paid in the other country gear, explained Walter M Helwich.

Bill of exchange gets its name because it served as a means of replacing the money in the supply of goods by more practical reasons, primarily Because of safe and secure handling of money.

Walter Helwich cites that the Bill of Exchange Act defines: “Bill of exchange is an unconditional order, which is issued by the drawer, which is addressed to the drawer to pay a certain amount of its user – payee”

Walter M Helwich also explains the 3 types of “users”:

- Drawer is principal of the promissory note or publisher indicated on the face of the bill.

- Route (User) is the person who makes payment on the bill from the drawer cover is located in it.

- Payee is a person or entity designated in the document shall be paid the amount specified in the bill, the bill that user.

Our law distinguishes the following types:

1. The so-called first traced or drawn draft (solo) — It’s the kind of exchange that her publisher drawer by ordering the drawee at the time of maturity of the claim of the bill pays the bill to its user.

2. Own or promissory notes — is the kind where her publisher is committed in time of its maturity to pay the user the amount as indicated in the draft.

3. Blank bill of exchange — one that is characterized by the fact that at the time of its publication does not contain all the essential elements.

4. Department store promissory note — a draft which is used in the purchase of goods and services.

5. Business draft — the same as the department.

6. Credit promissory note — a draft that is used when requesting and obtaining credit.

7. Domicile draft — is the sort of place where its payment or issuance is where he lives drawee.

8. Circular draft — Is it draft that circulated transmitted bill of exchange in trade between debtors and creditors, bill of exchange.

9. Drawn — Drawn promissory note — is that the issuer of the promissory note drags yourself, yourself ordering and he paid the bill.

In connection with the issuance of the bill drawn, Walter says the bill of exchange cannot vote on the order of the drawer, can be traced to the account of a third party and cannot be traced, and the drawer. Drawn draft may be payable with a third person in the place where the drawer or elsewhere — domiciled drawn draft

Walter Martin Helwich says that mapping draft drawee is down in the bill, or the one who has to make payments on the bill.

The transfer of the bill of exchange or transfer of rights and obligations it contains are the most important bill of exchange activities. The actual transfer of the bill under the law is done by two ways:

- Transfer by induction

- Transfer by a simple transfer of the promissory note

According to Walter Helwich the first way is the regular, most widely used and safest way because the draft law regulating the correct procedure should be carried out. Its essence is this: the person who conveys certain rights called the endorser and the person to whom transferred endorser. According to its nature and content Endorsing may vary as Donatello transfer, transfer of name and transfer by order. Given the form practiced it can be: full endorsement and endorsement blank endorsement recta.

The second way (Jesse) which mainly debtors bill of exchange debtors and perform settlement of their rights and obligations.

Measures for preservation of rights bill of exchange

Walter Helwich explains that there are 3 points that draft law envisages several types of measures:

- Protest promissory note in default, means a public document which confirms that certain actions debtors by bill of exchange entities are not met. Usually protest can be a non acceptable act because the bill does not pay, so called amortization protest.

- Recourse in the bill

- Legal Remedies — as remedies that are used because delayed fulfillment as a bill of exchange rights and obligations of bill of exchange, stand in front of them the opportunity to use debtors objections and draft bill of exchange charges objections represent internal remedies TS they serve as legal subtract legal grounds can be raised so called debtors lawsuits. As with any type of lawsuits and in his action in question disputes that settle in courts. Bill of Exchange Act provides for two types of such lawsuits: regular and recourse.