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A Bill of Exchange operates similarly to a cheque, serving as a means to discharge a debt without the need for further explanation. If the recipient fails to accept it, they may need to provide justification in court.
However, sending a promissory note, Bill of Exchange, or cheque doesn’t guarantee compliance from the other party; it merely serves as evidence of an attempt to settle the debt in the event of legal action.
It’s important to note that fines are typically issued to corporate entities, not individuals registered by Royal Registry. Thus, living persons registered in such a manner will not receive fines.
Freedom of Information, Australian Government – Attorney-General’s Department confirms: There are no documents that exempt government departments, government corporations and government funded corporations from complying with the Bills of Exchange Act 1909, which is why the department holds no such documents.
BoE Forms
All the Bill of Exchange forms have been updated to accomodate members and non-members of the Royal Registry de Jure.
Additional BoE Info and Rejection Strategies
Failure to Settle & Contract Violation
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