1️⃣ Negotiable Instrument kya hai?
Negotiable Instruments aise papers hote hain jo ek person se dusre person ko transfer kiye ja
sakte hain aur jiske paas yeh hote hain, usko uska legal benefit ya payment milta hai.
Or
Aise documents jo ek person dusre person ko transfer kar sakta hai, aur jiske paas yeh
document hoga, usko uska legal right ya payment milega.
Or
Negotiable Instrument ek tarah ka written proof hota hai jo legal way me paisa ya goods lene ka
haq deta hai.
● Negotiable Instruments: Bas format ya paper fill karne se transfer ho jate hain, koi
extra documents nahi chahiye hote.
Indian law ke Negotiable Instruments Act ke Section 13 ke according, teen tareeke ke
negotiable instruments hote hain:
1️⃣ Promissory Note
2️⃣ Bill of Exchange
3️⃣ Cheque
Lekin kuch aur documents bhi market me negotiable instruments jaise treat kiye jate
hain, jaise:
1️⃣ Hundies – Traditional Indian credit instruments (jaise ek type ka promissory note).
2️⃣ Treasury Bills – Government ke short-term borrowing papers.
3️⃣ Bearer Debentures – Aise debentures jo jiske paas honge, wahi uska owner mana
jayega.
4️⃣ Railway Receipts – Yeh proof hota hai ki railway ek shipment carry kar rahi hai.
5️⃣ Delivery Orders – Ek written order jo kisi goods ki delivery allow karta hai.
6️⃣ Bill of Lading – Ek document jo shipment ka proof hota hai, mostly international trade
me use hota hai.
● Non-Negotiable Instruments: format ya paper fill karna padta hai, lekin legal
documents bhi chahiye hote hain transfer ke liye.
2️⃣ Kaise transfer hota hai?
1. Delivery (No Endorsement )→ Bearer instruments
Example :
1. Bearer Cheque
2. Endorsement + delivery (Endorsement) → Order Instruments
Example :
1. Promissory note
2. Bill of exchange
Bill of Exchange
Date: 01-Apr-2025
Amount: ₹10,000
Amount in Words: Ten Thousand Rupees Only
Drawer: Ravi Kumar, 12, XYZ Street, Delhi
Drawee: Ajay Verma, 45, ABC Road, Mumbai
Payable Date : Payable on Demand or 30 days after sight Or 01 - May - 2025 (Specific
date be mantion kar sakte hai )
Payee: Sharma Traders, 88, PQR Market, Kolkata
Signature of Drawer:_____________________
Terms Meaning :
1. Drawer (Seller/Person Issuing Bill):
Yeh wo person hota hai jo bill issue kar raha hai. Iski details likhni hoti hai, jaise naam, address,
etc.
2. Drawee (Buyer/Person Who Will Pay):
Yeh wo person hota hai jise bill pay karna hota hai. Iski bhi details mention karni hoti hai.
3. Payee:
Yeh wo person ya company hota hai jo paisa receive karega.
Scenario:
B ne A se ₹500 liye the, 1st May, 2024 ko.
A ne C se ₹500 ka samaan liya tha, lekin paisa abhi tak nahi diya.
Ab, A ne ek Bill of Exchange issue kiya, jisme A ne B ko instruct kiya ki wo C ko ₹500 pay
kare.
3. Order cheque
Drawee Bank: State Bank of India
Date: 01-Apr-2025
Payee: Ravi Kumar Only
Amount in Words: Twelve Thousand Rupees Only
Amount in Figures: ₹12,000
A/C No.: 1234567890
MICR Code: 110002022
Signature: _______________________________