单选题 Passage 4 Acceptance of a bill of exchange is an unconditional undertaking to pay the bill on maturity. The drawee should not, therefore, when accepting the bill, impose any conditions on payment. Acceptances citing for instance:(a) lesser amount (b) payable at a different date are referred to as “unqualified acceptances” and would not be acceptable to the remitting bank. The bill may be accepted payable at a place other than the acceptor’s address, normally at his bank, viz. “accepted payable at Barclays Bank plc…” This practice should be encouraged as the procedure for obtaining payment at maturity is greatly simplified; the bill needs only to be presented at the bank counters for payment. The presenting bank is responsible for seeing that the form of the acceptance of a bill of exchange appears to be complete and correct, but is not responsible for the genuieness of any signature or for the authority of any signatory to sign the acceptance. However, when the drawee is a customer, good banking practice dictates that the signature must be checked against the mandate. Strict control must be maintained over an accepted bill, which must not be presented for payment at maturity through the post. A bill of exchange is dishonoured when a sight draft is unpaid on presentation or when a tenor draft is unaccepted on presentation or unpaid at maturity. When an inward collection is dishonored the presenting bank must examine the collection order to see whether the bill is to be protested. Protesting a bill provides legal evidence of dishonor acceptable to a court of law. If protest is to be carried out, a Notary Public will personally call upon the drawee/acceptor and demand payment or acceptance. If the payment/acceptance is not forthcoming, the Nortary Public will draw up a deed of Protest that will give the reasons stated for dishonor. A bill should be protested within one working day of dishonor, otherwise under the Bills of Exchange Act 1882(s.51) all signatories are freed from liability on that bill. When a Notary Public is not available, a member of the bank staff can make a formal protest. Two ratepayers resident in the area of the drawee must witness the formal document. This is a valid form of Protest.