The Challenge of Recent Amendments related to the Check Issuance Law by Discounting Checks and Debt Purchasing (Comparative Study of the UNCITRAL Model Law and the Geneva Conventions, and UK-US Regulations)

Despite the passage of the Fifth Strategic Development Plan Law, the granting facilities for the check discount were allowed, However, the changes in the law of 2018 which came into force in 2021-being prohibition of bearer-check issuance, having the check registered in the system rather than endorsement and ambiguity in obtaining a guarantees-brought about a challenge.The possibility of transferring a check to the bank by means of an endorsement and obtaining a guarantee for it to achieve the purchase of debt to be challenged In this article, by analyzing different forms of check discount for related to purchasing debt facilities, the effects of such recent changes in check law in comparison with international conventions and regulations related to the check in the United Kingdom and the United States are examined and it is specified that the recent prohibitions and restrictions exist in other countries in various forms. Therefore, the recent changes does not decline of the collateral liability of the officials commercial document and not only it does not prevent the discounting of checks and the payment of debt purchase facilities ,but also it verifies the authenticity of the debt arising from the check and prevents fictitious transactions.