Guarantee
Guarantee is a subsidiary bill behavior in which a non-bill debtor guarantees the payment of the bill by the relevant debtor of the bill (such as the drawer, endorser, acceptor, etc.) with his own credit. If the name of the guaranteed person is not specifically specified in the guarantee, the drawer is deemed to be the guaranteed person. Guarantee can increase the reliability of the bill and improve the credit of the bill. Once the guarantee is made, the guarantor shall bear the same responsibilities as the guaranteed person. Guarantee shall not be subject to conditions. If conditions are attached, it does not affect the guarantor’s guarantee liability for the bill.
Presentation
Presentation is a bill behavior in which the holder submits the bill to the payee on the bill and requires the payee to accept or pay according to the instructions on the bill. Presentation can be divided into payment presentation and acceptance presentation. Payment presentation refers to the holder presenting the bill to the payee or acceptor for payment of the bill at sight or the accepted and expired usance bill: acceptance presentation refers to the holder presenting the usance bill to the payee for acceptance. A bill payable at sight only needs one presentation, and acceptance and payment are completed at one time; a bill payable at a later date needs two presentations, namely, presentation for acceptance first and presentation for payment later.
The holder shall present the bill for acceptance at the designated place of payment specified in the bill. If the bill does not specify the place of payment, the holder shall present the bill at the business premises, residence or habitual residence of the payee. When presenting the bill for payment, the holder may also present the bill to the payee (directly/mailed), or through a clearing bank and bill clearing house.
Both the presentation for payment and the presentation for acceptance shall be made within the statutory period, but the bill laws of various countries have different provisions on this. For the presentation period for payment of bills payable at sight and presentation for acceptance of bills payable at a later date, the Geneva Uniform Bills of Exchange Law stipulates that it must be within one year from the date of issue; the UK Bills of Exchange Law stipulates that it can be within a reasonable time, while my country’s Bills of Exchange Law stipulates that bills payable at sight and at a fixed time after sight shall be within one month from the date of issue, and bills payable on a fixed date and at a fixed time after issue only need to be presented for acceptance before the due date. As for the payment deadline of accepted long-term bills, the Geneva Uniform Bills of Exchange Law stipulates that payment should be made on the due date or two business days thereafter, the UK Bills of Exchange Law stipulates that payment should be made on the due date, and my country’s Bills of Exchange Law stipulates that payment should be made within ten days from the due date.