What are the differences between promissory notes, bills of exchange, and acceptances

The same city bill network will answer for you:

For example, if A wants to pay a part of the money to B, but they can't transfer money through online banking, and they are in the same place, then A can deposit a sum of money in the bank and ask the bank to issue a bill, which the bank promises to give the money to the bearer unconditionally when it sees the note within a certain period of time. This is known as a cashier's check. The bank draft is similar to the cashier's check, but the bank draft is mostly used in other places, that is, the drawer and the bearer are not in the same place.

Commercial bills generally have a time limit, bank acceptance bill refers to the payer to the bank to issue a bill that can be endorsed, the bank will let the payer to the equivalent of the face value of the bill money into a designated account, during this period the money can not be used for other purposes, and this bill can be endorsed and transferred to different units within the term, and then at the expiration time by the final endorser to the bank, the bank will specify the account of the money to him. The commercial acceptance bill is similar, but the intermediary is a certain company, from which it can be seen that the commercial acceptance bill is not very safe and is not commonly used at this stage.

See my previous question, the same question!

A bank draft is an instrument issued by the issuing bank and unconditionally paid to the payee or bearer according to the actual settlement amount at the sight of the draw. A cashier's check is a bill issued by a bank promising to unconditionally pay a definite amount to the payee or bearer at the sight of the bank. At first glance, they seem to be more similar, but in fact, they are very different and essential.

1. Bank drafts are mainly used for settlement in other places, while cashier's checks are only used in the same city.

2. The payment bank is different, and the payment bank of the bank draft is usually the other bank of this system or other systems. And the promissory note is issued by who pays it.

3. The reason for the invoice is different, the bank draft is that the remitter deposits the money in the bank first, and the bank only helps it "remittance". It is an intermediary business, while a promissory note is a liability of the bank to the payee or bearer.

And bank drafts are fundamentally different from bank acceptance bills. Bank drafts are issued by banks, while bank acceptance drafts are issued by enterprises, just to enhance the credit of the bills of exchange and apply for their acceptance by the opening bank. The bank draft payment is the bank, and the payer of the bank acceptance bill is the enterprise, only when the balance on the account of the enterprise is insufficient, the bank will pay on behalf of the bank, but the bank still has the right of recourse against the enterprise, usually the commercial draft issued by the enterprise needs bank acceptance (i.e., bank acceptance bill).

There are fewer commercial acceptances in the market.

1.The drawer is different:The drawer of the bank draft is the bank, and the drawer of the bank acceptance draft is the commercial entity.

2.Payment methods are different:A bank draft is a bank draft in which the payer deposits money in the bank first, and the payer pays as much as the bank deposits.

The bank acceptance bill means that even if the money deposited by the payer is not enough to pay the face value, the bank will first pay the full amount to the payee and then recover from the payer.

3.The acceptance period is different:Bank drafts are payable in person, while bank acceptance drafts need to be accepted.

Bank's bank acceptance draft refers to the bill issued by the depositor who opens a deposit account in the accepting bank (here is also the drawer) and accepted by the accepting bank. A ticket is a document issued by a bank promising to unconditionally pay a certain amount to the payee or bearer at the sight of the bill.

A cashier's check is an instrument issued by a bank promising to unconditionally pay a certain amount to the payee or bearer at the sight of the bank. Units and individuals who need to withdraw various funds in the same clearing area can use cashier's checks.

A banker's acceptance bill is a negotiable instrument in which the bank acts as an acceptor. Acceptance refers to the act of unconditionally paying the amount of the bill of exchange to the payee on the maturity date of the bill. After the payer indicates the word acceptance on the bill of exchange and signs, it confirms the payment responsibility for the bill of exchange and becomes the acceptor.

The acceptor gives acceptance to the applicant, that is, gives the applicant a forward credit commitment, and guarantees to any legitimate bearer that if the balance of the applicant's deposit account does not reach the amount of the bill of exchange when the bill of exchange matures, the acceptor bears the responsibility of unconditional payment, and the bank acceptance bill shall not exceed six months from the date of issuance to the date of maturity of the acceptance.

Difference Between Promissory Note and Money Order.

1. The basic parties are different.

There are two basic parties to a promissory note, namely the drawer and the payee;

There are three basic parties to a bill of exchange, the drawer, the payer, and the payee.

2. The payment method is different.

The drawer of the promissory note issues the bill and pays by himself, which is a committed bill;

A bill of exchange is a written order of payment by the drawer requiring the payer to pay the payee unconditionally, and the payer is not obliged to pay the bill unless he accepts the bill, so the bill of exchange is an imperative or delegated instrument.

3. The number of transactions included is different.

A cashier's note contains the settlement of a transaction; A bill of exchange contains the settlement of two transactions.

4. Acceptance and other items are different.

Promissory notes are not required: (1) to indicate a request for acceptance; (2) acceptance; (3) Participate in acceptance; (4) Issue a set.

There are all four of the above bills of exchange.

Usually a bill of exchange is issued by the drawer, usually two originals, the first is written "first of exchange(1)", the second is written "second of exchange(2)", if one of them has been paid by it, the other will automatically become invalid, therefore, many bills of exchange are marked "pay one not pay two".

5. If an international cashier's check is refunded, it is not necessary to make a rejection certificate. Bills of exchange are required.

6. The main debtor is different.

Promissory note: drawer;

Bills of exchange: before acceptance, it is the drawer; After acceptance, acceptor.

7. The promissory note does not allow the drawer and the payee to be the same party, and the bill of exchange allows the drawer and the payee to be the same party.

There are three main differences:

1. The drawer is different, the drawer of the bill of exchange is the bank, and the drawer of the acceptance bill is not specified;

2. The bill of exchange is that the payer deposits the money in the bank first, and the payer pays as much as the bank deposits; The acceptance bill is that even if the money deposited by the payer is not enough to pay the face value, the bank will pay the payee in full first;

3. The acceptance period of the two is different.

Acceptance bill refers to the bill of exchange that has gone through the acceptance procedures. That is, in the transaction activity, the seller issues a bill of exchange in order to claim payment from the buyer, and the payer indicates on the face of the bill the word "acceptance" and the signature acknowledging the payment due.

After acceptance, the payer becomes the acceptor of the bill of exchange. The acceptance by the purchaser is called "commercial acceptance bill", which is accepted by the bank.

It is called "bank acceptance bill".

Extended Information: Money Order

It is one of the most common types of bills, and China's Negotiable Instruments Law.

Article 19 stipulates: "A bill of exchange is an instrument issued by the drawer, and the payer is entrusted to pay a certain amount to the payee or bearer unconditionally at the sight of the bill or on a specified date." "Bills of exchange are one of the most widely used credit instruments in international settlements.

It is a commission **, a basic legal relationship.

There are at least three characters: the drawer, the drawee, and the payee.

Acceptance bill refers to the bill of exchange that has gone through the acceptance procedures. That is, in the course of a transaction, the seller issues a bill of exchange in order to claim payment from the buyer, and the payer indicates on the face of the bill that the payment is due"Acceptance"Lettering and signature. After acceptance, the payer becomes the acceptor of the bill of exchange.

Accepted by the purchaser"Commercial acceptances are made in accordance with bills of exchange", the bank acceptance"Banker's Acceptance"。

Acceptance bills are divided into bank acceptance bills and commercial acceptance bills, and at the same time, according to the form of existence, bills can be divided into: paper acceptance bills, electronic acceptance bills.

A banker's acceptance is an order issued by a creditor demanding payment from the debtor. When this kind of bill of exchange is promised by the bank to pay, it becomes a bank acceptance bill, and the bank acceptance bill is a short-term financing tool, with a term of 30 days to 180 days, and 90 days is the most common. The banker's acceptance draft is issued by the accepting bank.

The depositor who opens a deposit account issues a bill, a bill. A commercial draft issued to the drawer.

Acceptance is a credit support given by the bank based on the recognition of the drawer's credit. The maximum face value of each bank acceptance bill in China is 10 million yuan (the face value of 100 million yuan has been encountered in practice).

The commercial acceptance bill is issued by the drawer, and the entrusted payer unconditionally pays the determined amount to the payee or bearer on the specified date, and the bill accepted by the payer other than the bank is the commercial acceptance bill. A commercial acceptance bill is an instrument accepted by a payer other than a bank. The commercial acceptance bill can be issued and accepted by the payer, or it can be issued by the payee and handed over to the payer for acceptance.

The drawer of the commercial acceptance bill is a legal person and other organization that has opened a deposit account in the bank, and has a real entrusted payment relationship with the payer, and has reliable funds to pay the amount of the bill**. Commercial acceptance bills do not carry interest.

1. Different exchange agencies. The bank draft must be accepted by the bank, and the bank acceptance draft is accepted by the payer other than the bank. Second, the drawer is different.

The drawer of the bank draft is the bank, and the drawer of the bank acceptance draft is not specific. In the former, the payer deposits the money in the bank first, and the payer pays as much as the bank deposits. The latter is that even if the money deposited by the payer is not enough to pay the face value, the bank will first pay the full amount to the payee and then recover from the payer.

Third, the acceptance period is different. The bank draft is a bill of exchange issued by the issuing bank, which is unconditionally paid to the payee or bearer according to the actual settlement amount at the sight of the bill. It can be used to transfer money, and it can also be used to withdraw cash if it has the word cash.

Banker's acceptance draft is accepted by the bank. The payment term shall be agreed by both parties and shall not exceed 6 months. Fourth, the security is different.

The applicant for the bank draft has transferred the funds to the bank's internal account when issuing the draft, and the actual settlement amount will be paid to the bearer when the payment bank sees the bill; The funds of the banker's acceptance draft are paid from the payer's account when due. Therefore, the security of a bank draft is higher than that of a bank acceptance.

Article 26 of the Negotiable Instruments Law of the People's Republic of China [Validity of Bill of Exchange] After the drawer issues the bill, it shall bear the responsibility of guaranteeing the acceptance and payment of the bill. When the drawer fails to accept or pay for the bill of exchange, it shall pay off the amount and expenses specified in Article 70 and Article 70 of this Law.

Article 70 of the Negotiable Instruments Law of the People's Republic of China [Recourse Amount] The holder exercises the right of recourse and may request the recourse party to pay the following amounts and expenses:

a) the amount of the bill of exchange for which payment was refused;

2) Interest calculated on the amount of the bill of exchange at the interest rate prescribed by the People's Bank of China from the due date or the date of prompt payment to the date of settlement;

3) The cost of obtaining the relevant refusal certificate and issuing the notice.

When the recourse party pays off the debt, the bearer shall hand over the bill of exchange and the relevant rejection certificate, and issue a receipt for the interest and fees received.

Article 70 of the Negotiable Instruments Law of the People's Republic of China [Recourse and Re-recourse Amount] After the recourse is repaid in accordance with the provisions of the preceding article, the recourse may be exercised against other bill debtors and request other bill debtors to pay the following amounts and expenses:

1) the total amount that has been settled;

2) The interest calculated on the amount of the preceding paragraph at the interest rate prescribed by the People's Bank of China from the date of settlement to the date of recourse for settlement;

c) The cost of issuing the notice.

When the person subject to recourse is repaid, he or she shall hand over the bill of exchange and the relevant proof of refusal, and issue a receipt for the interest and fees received.

Article 19 of the Law of the People's Republic of China on the Chain Sale of Negotiable Instruments [Definition and Types of Bills of Exchange] A bill of exchange is an instrument issued by the drawer, and the payer is entrusted to unconditionally pay a certain amount to the payee or bearer at the sight of the bill or on a specified date.

Bills of exchange are divided into bank drafts and commercial drafts.

There are two kinds. A bill of exchange is an instrument issued by the drawer, and the payer is entrusted to pay the definite financial to the payee or the holder of the lease after the bill of exchange expires. According to the different drawers, bills of exchange are divided into bank drafts (by the bank as the drawer) and commercial drafts (by other companies other than the bank as the drawer).

There is only one payment method for bank drafts, that is, the bank pays at sight, and this kind of draft does not need to be accepted, so the so-called acceptance bill refers to the commercial draft. According to the different acceptors, commercial bills are divided into bank acceptance bills (by the bank as the acceptor) and commercial acceptance bills (with other companies other than the bank as acceptors). There are three payment methods for commercial bills, fixed day payment, regular payment after ticket issuance, and regular payment after seeing the bill.

All three payment methods have a certain payment period, so before they expire, the bill of exchange must be accepted by the acceptor. "Settlement Measures for Payment of Fraudulent Books": Article 72 The commercial draft is issued by the drawer, and the payer is entrusted to pay the determined amount unconditionally on the specified date to the payee or bearer.

Article 73 Commercial bills are divided into commercial acceptance bills and bank acceptance bills. The commercial acceptance bill is accepted by the payer other than the bank. Banker's acceptance draft is accepted by the bank.

The payer of the commercial draft is the acceptor.