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Phenomena banking .. the repercussions of the instrument certified
On: Tue 12/13/2011 8:17
□ Kareem Hamood Faraj
Through the use of instruments on the response of the means of exchange of cash for the pressures of commercial transactions, and said clearly inadequate paper money and coins to facilitate the exchange of goods and services when he became the size of the production of the last of great breadth and diversity, when it became a commodity exchange cover large areas of land of one-state as a result of the emergence of the nation-state form that has emerged from eighteenth and nineteenth centuries has been the banking institutions and to follow its
In the post to include open loans to economic sectors, using polarized deposits from the public the reason for the widespread use of instruments as a means of circulation of deposits with each other.
The basis of trust instruments
Where the use of money depends confidence derived from the value of money as a means of commodity exchange in the form of metal ... has become the basis of this trust obligation for the money, either paper-based instruments form the basis of the confidence derived from the use of the trust that has become a banking institution enjoyed by the public. Then overlapped this trust approved substantive standards of economic powers with add legislation adopted to govern the rules of the financial and banking institutions and strengthen the confidence to deal with in addition to codifying the basis of monetary issuance and work to make it conform to the needs of the national economy and the requirements of development and stability of its activity and short, the use of instruments on a large scale At present, based on two pillars: -
1. High confidence of banking institutions that have become the pillars of the economic structure in any country at an acceptable level of development.
2. Protection of the law that extended to regulate the basis of the instruments and the commitment of the parties dealing with in detail in the interest of everyone ... to become a use of instruments in the dealing day one of the indicators of progress of civilization in the world in what has been paper money constitutes the largest proportion of the mass of cash in developing countries and considered the case One indicator of economic backwardness ... which made all the legislation in those countries to promote the use of instruments targeting a number of factors that can not be considered in the methodology of this article.
This attempt is meant to discuss the phenomenon of the instrument without balance (versus Q) of this phenomenon harmful to economic activity and a base of confidence in doing business in addition to damaging the large in the public system and a bad influence in social behavior and the stability of transactions within the community. Elucidate this phenomenon is not directly due to the fact that the topic might be discussed widely and the State has taken many of the actions of the purposes of pastoral and guidelines to curb this phenomenon, or trapping effects ... but we will discuss it in terms of the period in which the beneficiary of the instrument required to review the banking system to obtain the amount and the period in which the banking system, a binding which fulfill Bmpelgh accordance with the purposes Iraqi legislation (Trade Act), that period which is considered one controls safe handling of instruments and an important pillar of Staff retains the salient characteristics (a means of exchange and the conclusion of receivables) as the exchange rate instrument that earns the status of money and keep him sufficient distance to gain the right of the sheet normal business ... as when Yun instrument at a later date (the instrument deferred), a technique that has spread recently (unfortunately) in business transactions and regular and on the basis it was investigating the beneficiary of the instrument (drawn to the order), two main conditions: -
1. The instrument and a means of documenting the transaction agreements with third parties.
2. That the instrument guarantee of payment on the grounds that non-payment (payment of the instrument) is possible only when there is no current account compared to fulfill (without credit) and as such a situation harmful Balsahb entailing severe penalties, the drawer will not intentionally at his disposal, even though the contained in the above seems true on its face, but the beneficiary of the instrument is surprised when a lawsuit dispute about the fulfillment of the amount of the instrument and that he would be required to prove a material fact in the case of proceedings which he reviewed the drawee bank instrument during the period of ten days from the date of liberation ... and where he Editor on deferred this period had become impossible of proof will depend on the date of submission of the Bank because the Bank's commitment to pay the amount (when there is a charge to meet) has offered to exchange regardless of the date fixed as the date of liberation and this point is busy dispute over such monetary instrument as a means to meet the prescription paper business of it, which makes the texts deterrent as without balance is feasible due to hold the drawer out as a haven for the protection of the penalties prescribed for the crime of liberation of the instrument at no charge to meet the (balance) ... and to indicate the legal nature of the exchange rate instrument and the relationship that there is no charge to meet the ( balance) will follow the legal wording in the relevant trade laws since the founding of the Iraqi state.
1. Article 484 of the Iraqi Law of Commerce No. 60 of 1943 on the following:
The instrument must be submitted to the suitor within ten days from the date of organization if the payment is a condition in the place of submission and within one month from that date if the payment is a condition in the shop is the place of organization.
2. Article 532 of the Iraqi Law of Commerce No. 49 of 1970 on the following:
A - instrument drawn in Iraq and due fulfillment of which must be submitted to meet within ten days.
B - if checked out of Iraq and is due to meet be submitted within sixty days.
C - starts Promised mentioned in the preceding two paragraphs from the date specified in the instrument that the date of issue.
D - The provision of the instrument to one of the rooms in the rule to meet the submission.
3. Article 156 of the Iraqi Law of Commerce No. 30 of 1984 in force on the following:
A - instrument drawn in Iraq and due fulfillment of which must be submitted within ten days.
B - If the instrument was checked out of Iraq and to meet the due must be submitted within sixty days.
C - starts Promised mentioned in each of the preceding two paragraphs from the date of issuance of the instrument set out in it.
D - The provision of the instrument and the booking amount by telephone or mail from this bank to the drawee bank in the rule to meet the submission.
Expert financial and banking
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On: Tue 12/13/2011 8:17
□ Kareem Hamood Faraj
Through the use of instruments on the response of the means of exchange of cash for the pressures of commercial transactions, and said clearly inadequate paper money and coins to facilitate the exchange of goods and services when he became the size of the production of the last of great breadth and diversity, when it became a commodity exchange cover large areas of land of one-state as a result of the emergence of the nation-state form that has emerged from eighteenth and nineteenth centuries has been the banking institutions and to follow its
In the post to include open loans to economic sectors, using polarized deposits from the public the reason for the widespread use of instruments as a means of circulation of deposits with each other.
The basis of trust instruments
Where the use of money depends confidence derived from the value of money as a means of commodity exchange in the form of metal ... has become the basis of this trust obligation for the money, either paper-based instruments form the basis of the confidence derived from the use of the trust that has become a banking institution enjoyed by the public. Then overlapped this trust approved substantive standards of economic powers with add legislation adopted to govern the rules of the financial and banking institutions and strengthen the confidence to deal with in addition to codifying the basis of monetary issuance and work to make it conform to the needs of the national economy and the requirements of development and stability of its activity and short, the use of instruments on a large scale At present, based on two pillars: -
1. High confidence of banking institutions that have become the pillars of the economic structure in any country at an acceptable level of development.
2. Protection of the law that extended to regulate the basis of the instruments and the commitment of the parties dealing with in detail in the interest of everyone ... to become a use of instruments in the dealing day one of the indicators of progress of civilization in the world in what has been paper money constitutes the largest proportion of the mass of cash in developing countries and considered the case One indicator of economic backwardness ... which made all the legislation in those countries to promote the use of instruments targeting a number of factors that can not be considered in the methodology of this article.
This attempt is meant to discuss the phenomenon of the instrument without balance (versus Q) of this phenomenon harmful to economic activity and a base of confidence in doing business in addition to damaging the large in the public system and a bad influence in social behavior and the stability of transactions within the community. Elucidate this phenomenon is not directly due to the fact that the topic might be discussed widely and the State has taken many of the actions of the purposes of pastoral and guidelines to curb this phenomenon, or trapping effects ... but we will discuss it in terms of the period in which the beneficiary of the instrument required to review the banking system to obtain the amount and the period in which the banking system, a binding which fulfill Bmpelgh accordance with the purposes Iraqi legislation (Trade Act), that period which is considered one controls safe handling of instruments and an important pillar of Staff retains the salient characteristics (a means of exchange and the conclusion of receivables) as the exchange rate instrument that earns the status of money and keep him sufficient distance to gain the right of the sheet normal business ... as when Yun instrument at a later date (the instrument deferred), a technique that has spread recently (unfortunately) in business transactions and regular and on the basis it was investigating the beneficiary of the instrument (drawn to the order), two main conditions: -
1. The instrument and a means of documenting the transaction agreements with third parties.
2. That the instrument guarantee of payment on the grounds that non-payment (payment of the instrument) is possible only when there is no current account compared to fulfill (without credit) and as such a situation harmful Balsahb entailing severe penalties, the drawer will not intentionally at his disposal, even though the contained in the above seems true on its face, but the beneficiary of the instrument is surprised when a lawsuit dispute about the fulfillment of the amount of the instrument and that he would be required to prove a material fact in the case of proceedings which he reviewed the drawee bank instrument during the period of ten days from the date of liberation ... and where he Editor on deferred this period had become impossible of proof will depend on the date of submission of the Bank because the Bank's commitment to pay the amount (when there is a charge to meet) has offered to exchange regardless of the date fixed as the date of liberation and this point is busy dispute over such monetary instrument as a means to meet the prescription paper business of it, which makes the texts deterrent as without balance is feasible due to hold the drawer out as a haven for the protection of the penalties prescribed for the crime of liberation of the instrument at no charge to meet the (balance) ... and to indicate the legal nature of the exchange rate instrument and the relationship that there is no charge to meet the ( balance) will follow the legal wording in the relevant trade laws since the founding of the Iraqi state.
1. Article 484 of the Iraqi Law of Commerce No. 60 of 1943 on the following:
The instrument must be submitted to the suitor within ten days from the date of organization if the payment is a condition in the place of submission and within one month from that date if the payment is a condition in the shop is the place of organization.
2. Article 532 of the Iraqi Law of Commerce No. 49 of 1970 on the following:
A - instrument drawn in Iraq and due fulfillment of which must be submitted to meet within ten days.
B - if checked out of Iraq and is due to meet be submitted within sixty days.
C - starts Promised mentioned in the preceding two paragraphs from the date specified in the instrument that the date of issue.
D - The provision of the instrument to one of the rooms in the rule to meet the submission.
3. Article 156 of the Iraqi Law of Commerce No. 30 of 1984 in force on the following:
A - instrument drawn in Iraq and due fulfillment of which must be submitted within ten days.
B - If the instrument was checked out of Iraq and to meet the due must be submitted within sixty days.
C - starts Promised mentioned in each of the preceding two paragraphs from the date of issuance of the instrument set out in it.
D - The provision of the instrument and the booking amount by telephone or mail from this bank to the drawee bank in the rule to meet the submission.
Expert financial and banking
[You must be registered and logged in to see this link.]
