Colombian Commercial Code - Decree 410 of 1971 - Book III - Of Commercial Property - Title III - Securities - Chapter V - Different species of Securities - Section VII - bills of exchange - From: Section 772 By: Art 779

COLOMBIAN COMMERCIAL CODE

Section VII

Bills of exchange

Article 772 .- Exchange bill of sale is a negotiable instrument that the seller can deliver and deliver or refer to the buyer. You can not escape exchange invoice that does not correspond to an actual sale of real and material goods delivered to the buyer.

Article 773 .- Once the invoice currency is accepted by the buyer will be considered against third parties in good faith free of guilt that the contract of sale has been duly executed in the manner set forth in the title.

Article 774 .- The exchange bill of sale must also contain the requirements laid down in Article 621, the following:

1. The mention of being "exchange bill of sale";

2. The number of the title;

3. The name and address of the purchaser;

4. The names and identifying characteristics of goods sold and record its actual delivery and material;

5. The unit price and total value thereof, and

6. The expression in letters and conspicuous places that are assimilated in its effect to the draft.

The omission of any of these requirements do not affect the validity of legal transaction that gave rise to bills of exchange, but it will lose its quality securities.

1. The mention of being "transport bill of exchange";

2. The number of the title;

3. The name and address of the sender;

4. The names and identifying characteristics of the subject goods transport;

5. The price of this and your payment;

6. The constancy of performance of the carriage and

7. The expression in letters and conspicuous places that are assimilated into their shortcomings to a bill of exchange.

Paragraph .- This bill applies the provisions of Article 773 and in the final paragraph of Article 774.

1. The number of shares;

2. The expiration date thereof, and

3. The amount due each.

Paragraph .- Partial payments shall be entered on invoices indicating, also, the date on which they were made, and the fork will extend the debtor corresponding partial receipts.

Article 775 .- exchange transport bill is a negotiable instrument that the carrier can deliver and deliver or mail to the sender or charger. You can not fight this bill if not for a contract of carriage effectively executed.

Article 776 .- The transport exchange invoice shall contain, in addition to the requirements of Article 621, the following:

Article 777 .- When payment is to be made in installments, the bills contain in addition:

Article 778 .- Failure to return the bills of exchange within five days from the date of receipt, shall be construed as lack of acceptance.

Article 779 .- apply to bills of exchange as appropriate, rules relating to the draft.