ändamålsväxel

ändamålsväxel is a term used in Swedish finance to describe a bill of exchange that is issued for a specific, designated purpose. The core idea is that the funds secured by the instrument are earmarked for a defined objective, such as a project, activity, or program, rather than being freely available to the holder. In practice, an ändamålsväxel functions similarly to a regular växel (bill of exchange) in that it is a negotiable instrument that can be transferred by endorsement and presented for payment. However, the defining feature is the accompanying purpose clause that restricts or guides how the funds may be used.

The use of an ändamålsväxel is more common in contexts where funders want to ensure that payments are directed to a particular objective, such as public sector financing, grants, or project-specific financing. The instrument will specify the intended purpose, conditions for payment, and any restrictions on the use of funds. Since it is a negotiable instrument, it remains subject to the general rules governing bills of exchange under Swedish law, including requirements for endorsement and acceptance. The exact terms, including transferability and enforceability, depend on the wording of the instrument and applicable law.

Because the concept is not universally standardized, practitioners may describe similar instruments with slightly different terminology or rely on the broader framework for negotiable instruments to interpret the purpose-specific clauses. See also växel (bill of exchange) and negotiable instruments.