Negotiable Instruments Act Section 100 — Protest
CHAPTER IX O F N O T I NG A N D P R O T E S T
General
Summary
If a promissory note or bill of exchange is dishonoured—meaning it is not accepted or not paid—the person holding it may, within a reasonable time, have a notary public officially record and certify that fact. This official certificate is called a protest. Separately, if the person who accepted a bill of exchange becomes insolvent or their credit is publicly questioned before the bill’s due date, the holder may, within a reasonable time, ask a notary public to formally demand better security from the acceptor. If that demand is refused, the holder may, within a reasonable time, have the notary record and certify these facts, and that certificate is called a protest for better security.
Official Text
When a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may, within a reasonable time, cause such dishonour to be noted and certified by a notary public. Such certificate is called a protest. Protest for better security.—When the acceptor of a bill of exchange has become insolvent, or his credit has been publicly impeached, before the maturity of the bill, the holder may, within a reasonable time, cause a notary public to demand better security of the acceptor, and on its being refused may, within a reasonable time, cause such facts to be noted and certified as aforesaid. Such certificate is called a protest for better security.