Colombian Commercial Code - Decree 410 of 1971 - Book III - Of Commercial Property - Title III - Securities - Chapter V - Different species of Securities - Section I - Bill of Exchange - Subsection III - Special Checks - From: Article 734 By: Art 751

COLOMBIAN COMMERCIAL CODE

Subsection III

Special checks

Article 734 .- The check that the drawer or the holder crossing two parallel lines drawn on the front, only

may be charged by a bank and is called "cross check".

Article 735 .- If interbreeding between the lines of the bank's name appears to be recovered, the crossing will be special, and will be general if between the lines do not see the name of a bank. In the latter case, the check may be cashed by any bank, and in the first, only the bank whose name appears between the lines or by the bank to whom the above as endosare for collection.

Article 736 .- Can not be deleted or crossing the bank name in the insert. Only worth the changes or deletions may be made, under the signature of the drawer.

Article 737 .- The drawer or the holder may prohibit the check is paid in cash, by inserting the words "for deposit into an account" or an equivalent. This check is called "manure into account."

In this case, the book will only pay the check by paying the amount in the account to carry or open fork.

Article 738 .- The drawee who pays in contravention of the requirements of the previous articles, be responsible for the irregular payment.

By virtue of this certification, the drawer and all endorsers are free of responsibility.

Paragraph .- The certification can not be extended to partial or bearer checks.
Article 739 .- The drawer or the holder of a check may require the drawee certifying the availability of funds for payment. This check is called a "certificate".

Article 740 .- The certification will be responsible to the drawee would change against the holder that the check will be paid timely submission.

Article 741 .- The term "approval" or equivalent, signed by the drawee or the sole signature of the latter, equivalent certification.

Article 742 .- The drawer may not revoke the certified check before the expiry of the deadline.

Article 743 .- Banks can provide their account holders check forms with guaranteed delivery, in which including the date of delivery and in printed characters, the maximum amount for which each check can be delivered.

The delivery of the respective forms produced for certification purposes.

Article 744 .- Ensuring the provision shall lapse if the check is not presented within one year from the date of delivery of the forms.

Article 745 .- Banks may issue checks drawn from their own offices.

Article 746 .- Traveler's checks are issued by the drawer to his office and shall be payable by the principal or by branches or correspondents have the drawer at home or abroad.

Article 747 .- The beneficiary of a traveler's check must be signed upon receipt and back to the business in the space for this title. He who pays or receives the check, you should check the authenticity of the signature of the holder, comparing it with the signature affixed to the drawer.

Article 748 .- The drawer delivered to the beneficiary a list of branches or bureaus where the check can be cashed.

Article 749 .- Failure to pay the traveler's check exchange action will require the holder to, in addition to the amount, the payment of 25% of the value of the check by way of penalty and compensation for damages that may try for the common pathways.

Article 750 .- The correspondent who put into circulation traveler's checks shall be required as a guarantor of the drawer.

Article 751 .- Prescribe in ten years the actions against the traveler's checks issued. The actions against the reporter who put into circulation check limitation of five years.