Spanish Commercial Code - Book III - Maritime Navigation and Trade - Title IX - Supplementary Provisions
SPANISH COMMERCIAL CODE
Title IX
ADDITIONAL PROVISIONS
§ 1. Of protests
Section 1241.
For purposes of this paper, the term protest to the act by which a
person records the occurrence of acts or omissions related to navigation
or maritime commerce, which could affect their liability, their
principals or employees, or makes a reservation of rights or actions
that may arise from such acts or omissions in respect of the same people
here alluded to.
Section 1242. Protests must be expressed in writing in any way that can demonstrate its formulation. Written expression
shall include telex, telegram or other means to record or repeat what
molded who protest tools or equipment designed for this purpose.
Section 1243.
When the respective laws or regulations provide that the protest should
be brought before the maritime authority, it will be done through a
written submission to that authority. This presentation will be
effective for all other effects that may arise.
§ 2. The unit of account and the conversion and interest
Section 1244.
When this book specifies a quantity or value of compensation in units
of account, or to be established according to the former, means such a
unit called the Special Drawing Right as defined by the International
Monetary Fund or to replace it.
The
value of the Special Drawing Right is calculated by the method of
assessment established by the International Monetary Fund in its
operations and transactions, the date of fulfillment of the obligation
in question.
The determination of the equivalence of the Special Drawing Right in national currency shall be the Central Bank of Chile.
Section 1245.
The obligations of current interest money earned from the notice of
default by the debtor, unless it had agreed a larger one. The current
interest payments accrue also to have originated from the fact that.
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