Using Paymer checks for loan repayment
In debt service when repaying a loan by using the "Replace with the check" function the Creditor is issued the number and code of Paymer check of Obligation type. This type of check is not secured by WebMoney Title units and its Owner cannot pay the check, i.e. transfer to his/her purses via Paymer service the amount of the debt in title units. The check of Obligation type is the debt commitment corresponding to the simple hand receipt of the Debtor that he/she undertakes to pay to the bearer of the check the total sum of debts resultant from using Debt service.
This check and documents issued by it at Paymer web-site, give the Owner of the check a chance to begin process of debt collection, including outside WebMoney system (for example, through judicial authorities).
The check of Obligation type has a face value and can circulate according to the rules and possibilities of Paymer service. It can be verified, exchanged, transferred, sold and its number and a code can be changed as well. It is only possible to carry out these operations only before the reception of documents stating check details after that the check stops its circulation.
The procedure for collecting funds under Debtor's obligations can consist of several stages:
- Negotiations between the Owner of obligations and the Debtor about the order and terms of return of funds
- Repayment of the debt and obligations before receiving documents by the Check
- Reception of documents by the Check
- Repayment of the debt and obligations after receiving the documents by the Check
- Preparation of documents for debt collection through the court
The Owner of the Check (not necessarily the creditor) must contact the Debtor, state the claims for the return of funds under debt obligations and present the Check number or the documents issued by Paymer service. During the negotiations both parties must reach an agreement on the following questions:
- by what means the Debtor will repay the loan (WebMoney title units, other property or property rights of the Debtor);
- the order of debt repayment;
- terms of debt repayment.
If it is necessary to secure agreements in written form the Parties can conclude a contract via WebMoney Transfer Arbitration service.
In case when negotiations between the Debtor and the Owner of obligations have been successful, the procedure for exchanging Check's details (or documents) into title units (other property, or property rights of the debtor) begins. If negotiations have not led to any agreed position of both Parties or have become impossible, the Owner of the Check can initiate legal proceedings for debt collection.
Debt repayment without reception of the documents¶
If the Owner of the Check did not receive the documents on the obligations at Paymer web-site, then the procedure of debt repayment is the following: the Owner transfers details of the Check to the Debtor, and the Debtor transfers the corresponding sum in WebMoney title units.
To transfer a Check you must use one of the ways of check delivery. When the Debtor transfers WM funds he/she has to specify in the comment to the payment the following: "In exchange for the check № <check number>". So, the funds must be transferred to the WM-purse of the Owner of the Check.
When redeeming the debt outside WebMoney system it is advised to take a receipt from the Owner of the Check that he/she doesn't have any complaints about any specific obligations.
Reception of documents¶
To get documents on the obligations of the Debtor, go to the Paymer service, enter Check number and code, then press the "Get documents" button, and then use the links for downloading the following documents in xml and html formats:
- Obligation of the Issuer - the document signed by the Debtor when receiving loan via Debt service;
- Obligation by the presented check - the document, showing what share of the general obligation of the Debtor belongs to the Owner of a certain check. It is signed with WMID of Paymer service.
HTML-format is used for viewing and printing text documents. XML-format, besides the text of obligations, includes an analog of Debtor's handwritten signature, Debtor's WMID and WMID of Paymer service.
These documents certify that their bearer has the right to get security under the obligation of the Issuer (i.e. the debtor).
After receiving the documents the check is canceled, but you must store its details to be able to download the documents again if necessary.
To verify the authenticity of the handwritten signature use SighChecker (download). The program is certified, doesn't require installation and must run from local computer.
SighChecker has functions for downloading documents in xml format, viewing document text and verifying the authenticity of the handwritten signature (Internet access is required).
Repayment of the debt after receiving the documents¶
After receiving the documents at Paymer web-site under the obligations, the Owner of the check can transfer either check details or documents themselves to the Debtor. The Debtor in his/her turn transfers the funds under the presented obligations.
If the debt is repaid by WebMoney title units then it is necessary to specify in the comment to the payment: "In exchange for the documents under the obligation № <obligation number>, code <an obligation code>".
To secure in written form the fact of repayment of the obligations it is reasonable for the Parties to generate and sign via Arbitration service a contract in the form of common receipt about absence of mutual claims on the given debt obligations. It is necessary to specify in the receipt the obligation number and code, date and the repayment sum and a phrase on absence of claims.
Preparation of documents for collecting the debt through court¶
If it is impossible to agree with the Debtor about repayment of obligations, the Owner of the check can apply to judicial authorities. In this case he/she must get documents under the Check and attach to the statement of claim: