Difference Between Bank Draft and Commercial Draft

Answer: (1) Bank draft - a wide range of application, is a settlement method widely used in remote settlement. It can be used for transfer settlement and cash withdrawal.

The ticket goes with the person, and the money and goods are cleared. High creditworthiness, safety and reliability. Flexible and adaptable.

The settlement is accurate, and the balance will be automatically refunded. Reminder: The payment deadline is one month from the date of ticket issuance.

2) commercial bill - is a kind of usance bill, the bill payer will pay the bill holder according to the date indicated in the bill, it can be used for the same city can also be used for settlement in other places, but must be used for the settlement of goods purchase and sale business. A commercial draft may not be valid for more than six months.

There are two types of bills of exchange: commercial drafts and bank drafts.

A commercial draft is a kind of instrument issued by the drawer, and the payer is entrusted to pay a certain amount to the payee or bearer unconditionally on the payment date. The issuer of a commercial draft is a general enterprise. 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.

The issuing bank of the bank draft is the payer of the bank draft. When banks issue bank drafts for enterprises, they generally require enterprises to deposit the full amount into the bank, so the security of bank drafts is higher than that of commercial drafts.

Commercial bills can be divided into commercial acceptance bills and bank acceptance bills according to their acceptors.

A commercial acceptance bill is issued by the drawer and promises to pay the amount of the bill of exchange on the maturity date of the bill, and a bank acceptance bill refers to the bank's commitment to pay the amount of the bill of exchange on the maturity date of the bill. The banker's acceptance bill has the bank's credit as the payment guarantee, and its security is higher than that of the commercial acceptance bill guaranteed by the commercial credit of the general enterprise.

As for their differences:

First of all, the acceptance object is different, the commercial draft is accepted by the payer other than the bank, and the bank draft is accepted by the bank.

Secondly, the issuance object is different, the commercial bill is agreed by both parties to the transaction, issued by the sales enterprise or the purchasing enterprise, but accepted by the purchasing enterprise. Bank drafts are issued by depositors who open a deposit account with a bank. The bank charges the drawer a handling fee of 5/10,000 according to the face value.

Third, when the bank deposit of the issuer of the commercial draft is insufficient, the bank may refuse to pay, and when the bank deposit of the issuer of the bank draft is insufficient, the bank will pay unconditionally at the bill.

Fourth, bank drafts have a higher security factor than commercial drafts.

One is issued by the bank and one is not.

Legal analysis: According to the laws of our country, the differences are as follows:

1. The issuer is different, and the issuer of the commercial draft is an enterprise; The issuer of a bank draft is the issuing bank.

2. The security is different, the applicant of the bank draft has transferred the funds to the internal account of the bank Lu Bangchun when issuing the bill, and the payment bank will pay the bearer according to the actual settlement amount when the bill is seen; The funds of the commercial draft are transferred from the payer's account when due.

Legal basis: Article 19 of the Negotiable Instruments Law of the People's Republic of China.

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 when the bill is seen in the morning or on a specified date. Bills of exchange are divided into bank drafts and commercial drafts.

The full text of the People's Bank of China Payment and Settlement Measures.

The differences are as follows: 1. Security is different.

Bank draft: When the bank issues a bank draft for the enterprise, it generally requires the enterprise to deposit the full amount into the bank, so the bank draft will not appear to be paid in the account without sufficient payment when the bank draft is released.

Commercial bill: After the commercial draft expires, the funds are transferred from the payer's account, if the payer's account has insufficient balance, it will be a serious release of the bill, resulting in the payee can not receive the money on time.

Because the commercial bill can be divided into commercial acceptance bill and bank acceptance bill according to the different acceptors, the bank acceptance bill has the bank's credit as a payment guarantee, therefore, the high-risk commercial bill only refers to the commercial acceptance bill.

2. The meaning is different.

A bank draft refers to a bill 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 commercial draft is an instrument issued by the drawer, and the payer is entrusted to pay a certain amount unconditionally to the payee or bearer on the specified date.

3. The parties are different.

Drawer: The drawer of the bank draft is the bank, and the drawer of the commercial draft is the industrial and commercial enterprise.

Beneficiary: The payee of the bank draft refers to the units and individuals who withdraw the remittance from the bank. A commercial draft is the person who actually receives the amount of the bill of exchange as actually stated on the commercial draft.

Payer: A bank draft payer is the bank that is responsible for making payments to the payee. The payer of the commercial draft is the person who actually pays the amount of the commercial draft.

A bank draft is issued by a bank, and a commercial draft is issued by a business. A bank draft is an instrument issued by a bank and unconditionally paid to the payee or bearer according to the actual settlement amount at the sight of the bank.

A commercial draft is an instrument issued by the drawer, and the payer is entrusted to pay a certain amount to the payee or bearer unconditionally on the specified date. According to different acceptors, Punkai can be divided into commercial acceptance bills and bank acceptance bills. The bill of exchange accepted by the bank is the bank acceptance bill, and the bill of exchange accepted by the enterprises and institutions other than the bank is the commercial acceptance bill.

Legal basis: Article 19 of the Negotiable Instruments Law stipulates that the bill of exchange is issued by the drawer and the payer is entrusted to pay the fixed amount to the payee or bearer unconditionally at the sight of the bill or on a specified date.

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

The biggest difference between the two is that a commercial draft is issued by a business, and a bank draft is issued by a bank. Bank drafts are more secure than commercial drafts.

Legal basis. Commercial draft measures "Article 2 commercial draft is issued by the payee or payer (or acceptance applicant), accepted by the acceptor, and paid to the payee or endorsee on the maturity date.

Commercial Draft Measures 13th bank acceptance of the acceptance, non-bank financial institutions can not handle. Bank of Communications, CITIC Industrial Bank, China Everbright Bank, Huaxia Bank and regional banks cannot accept bills of exchange to regional acceptance banks that have not established institutions in the system.

Article 1 of the Measures for Bank Drafts of Three Provinces and One City in East China.

A bank draft is a bill issued by the remitter to the remitter to hold the transfer settlement or cash withdrawal in a different place by the remitter by the remitter.

Article 3 of the Measures for Bank Drafts of Three Provinces and One Municipality in East China.

The issuance of bank drafts shall be handled by the banks that issue bank drafts, settlement seals and number presses. Remittances who open an account with Yinyan Confession Bank, which cannot issue bank drafts, need to use bank drafts, and should transfer the money to nearby banks that issue bank drafts. All banks can handle the payment of bank drafts.