1. A protest for non-acceptance shall be made within the time-limits set for presentation of the bill of exchange for acceptance. Where the first presentation for acceptance, pursuant to Article (552), falls on the last day of such time limit set for presentation, the non-payment protest may be made on the following day. 2. Where the bill of exchange is due for payment at sight, the protest for non-payment shall be made according to the conditions stipulated in Clause (1) above pertaining to the non-acceptance protest. 3. Where the bill of exchange is due for payment on a specified date or after a certain period from the date of drawing up or sight, the protest for non-payment shall be made on either of the two business days following the date of maturity. 4. The protest for non-acceptance shall substitute the need for presenting the bill of exchange for payment and for making a protest for non-payment.
Interpretation and application must be checked against the official text and current version.