Section 63 - Drawee's time for deliberation, Section 64 - Presentment for payment : Negotiable Instruments Act 1881



What is Drawee's time for deliberation? What is Presentment for payment? Drawee's time for deliberation and Presentment for payment are defined under Section 63 and 64 of Negotiable Instruments Act 1881

Section 63 of Negotiable Instruments Act 1881: "Drawee's time for deliberation"

The holder must, if so required by the drawee of a bill of exchange presented to him for acceptance, allow the drawee forty-eight hours (exclusive of public holidays) to consider whether he will accept it.

Section 64 of Negotiable Instruments Act 1881: "Presentment for payment"

(1) Promissory notes, bills of exchange and cheques must be presented for payment to the maker, acceptor or drawee thereof respectively, by or on behalf of the holder as hereinafter provided. In default of such presentment, the other parties thereto are not liable thereon to such holder.

Where authorized by agreement or usage, a presentment through the post office by means of a registered letter is sufficient.

Exception. - Where a promissory note is payable on demand and is not payable at a specified place, no presentment is necessary in order to charge the maker thereof.


(2) Notwithstanding anything contained in section 6, where an electronic image of a truncated cheque is presented for payment, the drawee bank is entitled to demand any further information regarding the truncated cheque from the bank holding the truncated cheque in case of any reasonable suspicion about the genuineness of the apparent tenor of instrument, and if the suspicion is that of any fraud, forgery, tampering or destruction of the instrument, it is entitled to further demand the presentment of the truncated cheque itself for verification:

Provided that the truncated cheque so demanded by the drawee bank shall be retained by it, if the payment is made accordingly.


Negotiable Instruments Act 1881


Section 61 - Presentment for acceptance

Section 62 - Presentment of promissory note for sight

Section 63 - Drawee's time for deliberation

Section 64 - Presentment for payment

Section 65 - Hours for presentment

Section 66 - Presentment for payment of instrument payable after date or sight



Section 67 - Presentment for payment of promissory note payable by installments

Section 68 - Presentment for payment of instrument payable at specified place and not elsewhere

Section 69 - Instrument payable at specified place

Section 70 - Presentment where no exclusive place specified



Section 71 - Presentment when maker, etc., has no known place of business or residence

Section 72 - Presentment of cheque to charge drawer

Section 73 - Presentment of cheque to charge any other person

Section 74 - Presentment of instrument payable on demand

Section 75 - Presentment by or to agent, representative of deceased, or assignee of insolvent

Section 75A - Excuse for delay in presentment for acceptance or payment



Section 76 - When presentment unnecessary

Section 77 - Liability of banker for negligently dealing with bill presented for payment


Section 78 - To whom payment should be made

Section 79 - Interest when rate specified

Section 80 - Interest when no rate specified

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