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The drawer, an endorser, or a person guaranteeing payment by aval (avaliseur) may, by the stipulation „retour sans frais”, „sans protêt”, or any other equivalent expression written on the instrument and signed, release the holder from having a protest of non-acceptance or non-payment drawn up in order to exercise his right of recourse.
This stipulation does not release the holder from presenting the bill within the prescribed time, nor from the notices he has to give. The burden of proving the non-observance of the limits of time lies on the person who seeks to set it up against the holder.
If the stipulation is written by the drawer, it is operative in respect of all persons who have signed the bill; if it is written by an endorser or an avaliseur, it is operative only in in respect of such endorser or avaliseur. If, in spite of the stipulation written by the drawer, the holder has the protest drawn up, he must bear the expenses thereof. When the stipulation emanates from an endorser or avaliseur, the costs of the protest, if one is drawn up, may be recovered from all the persons who have signed the bill.