Bill of Exchange Based Execution Tracking
The creditor may pursue enforcement proceedings against the debtor based on the bills of exchange, such as checks, promissory notes, bills, in return for his receivables.
The borrower must pay his debt within 10 days of receiving the payment order.
If the basis of the follow-up does not have the nature of the promissory note bill, it must be reported to the administrative court within 5 days.
If the debtor claims that the signature under the promissory note does not belong to him or her, he or she must be notified to the executive court within 5 days with a separate and explicit petition; otherwise, the signature on the bill of exchange is considered to be the debtor’s. If the signature is unfairly denied, the subject of follow-up will be fined ten percent of the debtor.
The borrower must submit a petition to the executive court within 5 days for reasons of no debt or amortization or destruction of the debt or the statute of limitations to receive or objection about the authority. If a decision is not made from the administrative court on the acceptance of the debtor’s objection, the enforcement will continue.
If the debt is not disputed by the borrower and the debt is not paid, it is necessary to declare the asset within 10 days and within 3 days if it is disputed and rejected. If the borrower does not declare the property or makes a false statement, the debtor will be sentenced to prison.