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Unpaid promissory note: the cambiario claim seizes assets at once

Last updated 2026-09-01 · Reviewed by Jaime Piñeira Pardo, registered with the ICAM bar, no. 138826

The short answer

With a formally correct promissory note there is no need to wait for a judgment. The court examines the instrument by order and, if it finds it in order, requires the debtor to pay within ten days and orders the immediate precautionary seizure of his assets for the amount of the instrument plus a further sum for default interest, expenses and costs. The debtor has ten days to object.

You were given a promissory note for thirty eight thousand euros at ninety days as payment for building work. On the due date the bank returns it for lack of funds. You call, and they promise a transfer next week. Three weeks pass and you find the company has moved its registered office and that the account it used stands at zero. You hold a signed document, with a date and an amount, and the feeling that every passing day leaves less to seize. You are right: here time is money.

The case, in five lines

What is brought: Cambiario claim under article 819 and following of the Civil Procedure Act, seeking precautionary seizure of the debtor's assets.
Before which court: The Civil section of the Tribunal de Instancia (the first-instance court) of the defendant's domicile. Article 820 excludes the rules on express or tacit submission, so any jurisdiction clause in the contract is of no use.
Deadline: The order gives the debtor ten days to pay and ten days to file an objection. The cambiario action has its own limitation period, which article 88 of the Bills of Exchange and Cheques Act counts from the maturity date of the instrument.
Who can bring it: The lawful holder of the promissory note, cheque or bill of exchange. He may proceed against several parties liable on the same instrument, in which case the domicile of any one of them founds jurisdiction.
Financial risk: The precautionary seizure is granted without requiring security, but if the debtor categorically denies his signature within five days the court may lift it. If the objection succeeds, you bear the costs and any damage caused by a wrongful seizure.

The order freezes assets before the debtor knows he has been sued

This is what makes the cambiario claim a different tool from any other money claim. Article 821.2 requires the court to examine by order the formal correctness of the instrument and, if it finds it in order, to adopt two measures: to require the debtor to pay within ten days and to order the immediate precautionary seizure of his assets for the amount appearing on the enforceable instrument.

The seizure does not cover only the principal: the same article orders a further sum to be seized for default interest, expenses and costs, in case the payment demand is not met. And no security is required from the creditor, unlike ordinary interim measures. Against an order refusing those measures the claimant may bring the appeals referred to in paragraph 2 of article 552.

Without the seven requirements of article 94 the note does not open this door

Article 819 allows a cambiario claim only if, when it is begun, a bill of exchange, cheque or promissory note is produced meeting the requirements of the Bills of Exchange and Cheques Act. For a promissory note those requirements sit in article 94: the word promissory note in the text of the instrument itself, an unconditional promise to pay a specified sum, the maturity date, the place of payment, the name of the payee, the date and place of issue, and the signature of the maker.

A document missing any of those elements does not close every route, but it does close this one. It is worth checking before filing anything, because article 66 of the same Act provides that a bill carries enforceability through the cambiario claim for the sum stated in the instrument, with no need for judicial verification of signatures, and article 96 extends to promissory notes, so far as compatible, the rules on endorsement, maturity, payment, aval and actions for non payment.

Denying the signature within five days may lift the seizure, except in three cases

Article 823 gives the debtor a quick way out: if he appears personally or through a representative within the five days following the payment demand and categorically denies the authenticity of his signature, or pleads a total lack of authority, the court may lift the seizures already granted in the light of the circumstances and the documents filed, requiring appropriate security if it considers it advisable.

The same article closes three doors. The seizure will not be lifted where the issue, acceptance, aval or endorsement were witnessed with a stated date by a registered commercial broker, or the signatures were authenticated on the instrument itself by a notary; where the debtor did not categorically deny his signature in the protest or in the notarial payment demand; and where he acknowledged his signature before a court or in a public document. That turns the prior protest or notarial demand into a strategic decision.

The debtor may only raise the defences listed in article 67

Article 824 allows the debtor to file an objection within the ten days following the payment demand, and refers to the grounds set out in article 67 of the Bills of Exchange and Cheques Act. That article admits defences based on personal dealings with the holder and, in addition, the non existence or invalidity of the debtor's own undertaking including forgery of the signature, the holder's lack of title or of the necessary formalities, and the extinction of the debt on the instrument.

Article 67 closes by stating that, against a cambiario action, only the defences listed there are admissible. That is why the ground is so favourable to the creditor: arguments about delays, quality or commercial expectations usually fall outside it unless they can be brought back to the personal dealings between the parties. Once the objection is filed it is served on the creditor to challenge within ten days, and either party may request a hearing under article 826.

If he does not object within ten days, the seizure becomes enforcement

Article 825 is what makes this route worthwhile. Where the debtor does not file an objection within the period set, the court orders enforcement for the amounts claimed and the court clerk levies seizure if it could not be carried out earlier or if it had been lifted under article 823. That enforcement is conducted in the same way as enforcement of judgments and of judicial and arbitral decisions.

If the debtor does meet the demand and pays, article 822 refers to article 583, but with a detail worth knowing: costs are borne by the debtor. In other words, paying within the ten days does not free him from the expense he has caused. This weighs in negotiation, because a debtor who wants to close the matter knows that both the clock and the seizure are already running against him.

The cambiario judgment binds, but does not settle every account between the parties

Article 827 requires the court to rule on the objection within ten days. If the objection is dismissed and the judgment is appealed, it is provisionally enforceable under the Act itself, which prevents the appeal from serving only to gain months. If the judgment upholds the objection and is appealed, the precautionary seizures already levied are governed by article 744.

Its paragraph 3 marks the limit of the weapon: a final judgment in a cambiario claim has the force of res judicata as to the matters that could have been raised and argued in it, and the remaining matters may be brought in whichever case corresponds. The limitation clock also needs watching: article 96 declares the limitation rules of articles 88 and 89 applicable to promissory notes, and article 88 counts three years from maturity for the action against the acceptor and one year for the holder's action against endorsers and the drawer.

How we run the case, step by step

1
Examine the instrument before doing anything else
We check one by one that the note contains the seven elements of article 94, that the signature is that of someone who binds the company, and that maturity and amount match the bank return. A formal defect is spotted here or it is not spotted at all.
2
Identify specific assets to be seized
A precautionary seizure is worth only as much as the asset it reaches. Before filing, we identify the debtor's accounts, vehicles, registered property and claims against third parties, so that the order does not fall on an estate that is already empty.
3
File the concise claim together with the instrument
Article 821.1 requires a concise claim accompanied by the instrument. We expressly request the ten day payment demand and the precautionary seizure for the principal plus a prudent further sum for default interest, expenses and costs.
4
Answer the objection or the attempt to lift the seizure
If the debtor denies his signature within five days, we show which of the three situations in article 823 prevents the seizure from being lifted. If he files an objection, we challenge it within ten days and decide whether requesting a hearing is advisable.
5
Turn the precautionary seizure into payment
With no timely objection, enforcement is ordered and definitive seizure levied. Where the judgment dismisses the objection, we seek provisional enforcement despite any appeal, and ask for the assets already tied up to be realised.

The evidence that decides the case

The original promissory note, not a copy: the instrument is filed with the claim and is the principal evidence.
The bank slip returning the note unpaid, showing the exact date it was presented for payment.
The protest or notarial payment demand, which records whether the debtor denied his signature.
The power of attorney or company registry certificate proving that the signatory could bind the company.
The underlying contract or invoices, in case the debtor moves the argument to the personal dealings.
Registry searches and account information identifying specific assets on which the seizure can be levied.

What closes the door

Waiting months for the debtor to keep his promise to pay. A precautionary seizure is only useful if something remains to be seized, and estates empty out precisely during those months.
Being careless with the protest or the notarial deed. If the debtor does not deny his signature there, that omission favours the creditor, and skipping the step hands him a defence.
Accepting a note with the maturity date or amount left blank and completing them later without the backing of the agreement. It is the quickest way to see an objection succeed.
Letting the cambiario limitation period run in the belief that the underlying debt will always be there. Each party liable has its own period and its own starting day.

The law that applies

Art. 821 LEC. The cambiario claim starts with a concise claim accompanied by the instrument. The court examines its formal correctness by order and, if it finds it in order, requires the debtor to pay within ten days and orders the immediate precautionary seizure of his assets for the amount of the instrument plus a further sum for default interest, expenses and costs. BOE-A-2000-323
Art. 823 LEC. It allows the seizure to be lifted if the debtor appears within five days of the demand and categorically denies his signature or pleads a total lack of authority. It is not lifted where the signatures were witnessed or authenticated, where the debtor did not deny his signature in the protest or notarial demand, or where he acknowledged it before a court or in a public document. BOE-A-2000-323
Art. 824 LEC. It gives the debtor ten days from the payment demand to file an objection, which takes the form of a claim. The grounds he may rely on are those set out in article 67 of the Bills of Exchange and Cheques Act, and no others. BOE-A-2000-323
Art. 825 LEC. If the debtor does not file an objection in time, the court orders enforcement for the amounts claimed and seizure is levied if it could not be carried out or had been lifted. That enforcement follows the rules laid down for enforcing judgments and judicial and arbitral decisions. BOE-A-2000-323
Art. 94 Ley Cambiaria y del Cheque. It lists what a promissory note must contain: the word promissory note in the text of the instrument, an unconditional promise to pay a specified sum, the maturity date, the place of payment, the name of the person to whom or to whose order payment is to be made, the date and place of signature, and the signature of the maker. BOE-A-1985-14880
Art. 67 Ley Cambiaria y del Cheque. It sets the only defences available against a cambiario action: those based on personal dealings with the holder, the non existence or invalidity of the debtor's own undertaking including forgery of the signature, the holder's lack of title or the lack of the instrument's necessary formalities, and the extinction of the debt claimed. BOE-A-1985-14880

Each article checked against the consolidated text published in the BOE (the Spanish official gazette).

Frequently asked questions

Do I have to post security for the seizure to be granted?

No. Article 821.2 orders the precautionary seizure as a direct consequence of a favourable examination of the instrument, without making it conditional on any security from the creditor. Security appears at a different stage: article 823 allows the court to require it from the debtor, if it considers it advisable, when it decides to lift the seizure because he has categorically denied his signature within five days of the demand.

The note is from a company that no longer trades. Is it worth anything?

It is worth two things. First, reaching whatever assets remain, because the seizure is granted immediately and does not wait for judgment. Second, placing on the court record a debt that has fallen due and gone unpaid, which is the starting point for any later claim against those who ran the company or against whoever received assets from it. The sooner you act, the more you reach.

Can I sue at my own company's address if the contract says so?

Not in a cambiario claim. Article 820 gives jurisdiction to the first instance court of the defendant's domicile and expressly declares the rules on express or tacit submission inapplicable. If the instrument binds several debtors, the domicile of any one of them founds jurisdiction, which in practice gives the creditor some choice where there are guarantors or several signatories.

What if the debtor argues the work was badly done?

He will have to fit it into article 67, which admits only defences based on personal dealings with the holder and the three it then lists. It is not impossible, since a direct creditor and debtor usually have such dealings, but the burden of proving it is his and the seizure is already in place while the argument runs. That imbalance is the advantage of a cambiario instrument.

How long do I have to claim on a matured promissory note?

The cambiario action has its own periods. Article 96 declares the limitation rules of articles 88 and 89 applicable to promissory notes, and article 88 sets three years from the maturity date for actions against the acceptor, one year from the protest or maturity for the holder's actions against endorsers and the drawer, and six months between endorsers. The exact period is determined on the particular instrument.

This guide explains how the action works in general. It does not replace the study of your own case: deadlines depend on when things happened and on what you have done since.