The use of payment instruments – promissory notes and cheques – can only offer advantages to the beneficiaries of these bonds.
They are enforceable titles – this means that if their payment is refused, the foreclosure of the issuer and of the guarantor is possible without further proceedings in any type of courts. Moreover, in certain cases, they offer guarantees for the recovery from the guarantor or endorser of the amount for which they were issued, depending on which of the two is solvent.
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