Payment of a bill of exchange may be guaranteed for all or part of its amount by an endorsement.
This guarantee is provided by a third party or even by a signatory of the bill. The endorsement is given either on the bill of exchange or on an attached document, or by a separate instrument indicating where it was given.
It is expressed by the words "endorsement" or by any other equivalent formula, and it is signed by the endorser.
It is considered to result from the endorser's signature affixed to the front of the bill of exchange, except when it is the signature of the drawee or the drawer.
The endorsement must indicate on whose behalf it is given. Failing this indication, it is deemed to be given for the drawer.
The endorser is liable in the same way as the party for whom they have guaranteed it.
His guarantee is valid, even if the obligation he has secured is void for any reason other than a formal defect.
When he pays the bill of exchange, the guarantor acquires the rights arising from the bill of exchange against the guaranteed party and against those who are liable to the latter under the bill of exchange.