Convention Providing a Uniform Law for Bills of Exchange and Promissory Notes

General Information

  1. Type: Convention
  2. Date of signature:
  3. Place of signature: Geneva, Switzerland
  4. Depositary:
  5. Date of entry into force: 01/01/1934

Category

Finance, payments and insolvency

Sub category

Bills of exchange and promissory notes

Groups

UNS

What is it about?

The League of Nations Geneva Convention unifies rules of substance related to bills of exchange and promissory notes. Its primary purpose is to resolve certain conflicts created by the divergence of national laws related to these documents.

Why is it relevant?

State parties offer their businesses increased stability in their international dealings by providing for predictability regarding Bills of Exchange and Promissory Notes through uniform national legislations.

Additional Information

This Convention reflects a civil law perspective. As such it should be understood in relation to the United Nations Convention on International Bills of Exchange and International Promissory Notes (New York, 9 December 1988). That latter Convention enables parties to an international bill of exchange or international promissory note to incorporate its provisions by reference in their negotiable instruments and in some cases via special provisions. Two other related Conventions were signed on 7 June 1930: The Convention for the Settlement of Certain Conflicts of Laws in connection with Bills of Exchange and Promissory Notes with Protocol and the Convention on the Stamp Laws in connection with Bills of Exchange and Promissory Notes with Protocol. These two Conventions supplement the present Convention; therefore it is useful to become a State party to all three Conventions.

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