What is a Commercial Acceptance? Solve

Definition A commercial acceptance bill refers to a commercial draft issued by the payee, accepted by the payer, or issued and accepted by the payer. Feature 1, the payment term of the commercial acceptance bill, the longest is not more than 6 months; 2. The prompt payment period of the commercial acceptance bill shall be 10 days from the maturity date of the bill; 3. Commercial acceptance bills can be endorsed and transferred; 4. When the holder of the commercial acceptance bill needs funds, he can apply to our bank for discount with the unexpired commercial acceptance bill; 5. It is applicable to settlement in the same city or other places. I don't know what you're going to ask, there's a lot of related content, hehe].

Commercial acceptance bill refers to the bill issued by the drawer and accepted by the paying enterprise, which is a typical commercial credit. It is issued by the selling enterprise or the purchasing enterprise according to the agreement between the two parties to the transaction, and accepted by the purchasing enterprise. The payment term of the commercial acceptance bill shall not exceed 6 months; When the bearer needs funds, he can apply to the bank for discount with the unexpired commercial acceptance bill.

The discount rate of commercial acceptance bills generally does not exceed the loan interest rate of the same term, and has the attributes of circulation and transfer. Compared with the bank's acceptance bill, the commercial acceptance bill is convenient and does not need to pay the deposit and handling fee to the bank, which reduces the financing cost of the enterprise and is also conducive to the cultivation of its own good commercial credit. For the bank, it is equivalent to making a loan with interest deducted in advance; If the bill of exchange has a background of goods, there is also a collateral for the goods.

When the bank's funds are tight, it can also be re-discounted for financing.

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. The commercial acceptance bill can be issued by the payee and accepted by the payer, or issued and accepted by the payer. The business of commercial acceptance bills is limited to RMB, and the payment term of bills of exchange shall not exceed six months, and the amount of each bill of exchange shall generally not exceed 50 million yuan. ]

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 bank acceptance bill shall be issued by the payer who opens a deposit account in the acceptance bank, and apply to the bank for acceptance, and the commercial acceptance bill can be used after prompting the payer for acceptance when issuing the bill, or it can be used first after the issuance of the bill and then prompting the payer for acceptance. Commercial bills of exchange for fixed payment or regular payment after issuance, the bearer shall prompt the payer for acceptance before the maturity date of the bill.

For bills of exchange that are paid regularly after seeing the bill, the bearer shall prompt the payer for acceptance within one month. If the bill of exchange is not accepted within the prescribed time limit, the bearer loses the right to recover the money. ]

Commercial bills of exchange can be endorsed and transferred, and the endorser assumes the responsibility of guaranteeing the subsequent payment after the endorsement transfers the bill. Endorsements can be transferred to individuals. ]

A commercial acceptance bill is a type of commercial bill. It refers to a bill of exchange issued by the payee that is accepted by the payer, or issued and accepted by the payer. The unit using the bill of exchange must be a legal person who has opened an account in the People's Bank of China, and it must be based on legal commodity transactions, and after the bill of exchange is accepted, the acceptor (i.e., the payer) has the responsibility to pay the bill unconditionally when due, and the bill of exchange can be discounted to the bank or can be circulated and transferred.

In a commodity transaction, when the seller asks the buyer for a bill of exchange, the depositor must sign the word "acceptance" on the front of the bill of exchange and affix the bank's reserved seal. Before the bill of exchange expires, the payer shall pay the full amount to the opening bank.

After the bill of exchange matures, the bank voucher is transferred from the account of the payment unit to the payee or the discounting bank. If the payer's account is insufficient to pay when the bill of exchange expires, the opening bank will return the bill to the payee, and the receiver and payer will solve it by themselves. At the same time, the payer shall be fined 1% of the face value in accordance with the provisions of the bad cheque.

The payment term of commercial acceptance bills shall not exceed 6 months for paper bills and 12 months for electric bills. The prompt payment period of the commercial acceptance bill is limited, and the holder of the commercial acceptance bill can be endorsed and transferred from the maturity date of the commercial acceptance bill within 10 days of the maturity date of the commercial acceptance bill, and when the holder needs funds, he can apply to the bank for discount with the unexpired commercial acceptance bill, which is suitable for settlement in the same city or other places.

A commercial acceptance bill is accepted by a payer other than a bank. According to the agreement between the two parties to the transaction, the commercial acceptance bill shall be issued by the selling enterprise or the purchasing enterprise, but the purchasing enterprise shall accept and let the vertical exchange. The payer of the commercial acceptance bill shall notify the bank of payment on the same day after receiving the payment notice from the opening bank.

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. A commercial acceptance bill is accepted by a payer other than a bank. According to the agreement between the two parties to the transaction, the commercial acceptance bill shall be issued by the sales enterprise or the purchasing enterprise, but shall be accepted by the large purchasing enterprise.

What is a Commercial Acceptance Bill?

A commercial acceptance bill is an instrument issued by the drawer, and the payer is entrusted to unconditionally pay a certain amount to the payee or bearer on the specified date. The commercial acceptance bill is accepted by the payer other than the bank. The commercial acceptance bill shall be issued by the selling enterprise or the purchasing enterprise according to the agreement between the two parties to the transaction, but shall be accepted by the purchasing enterprise.

Features of commercial acceptance bills

1. The payment term of the commercial acceptance bill shall not exceed 6 months.

2. The prompt payment period of the commercial acceptance bill shall be 10 days from the maturity date of the bill;

3. Commercial acceptance bills can be endorsed and transferred;

4. When the holder of the commercial acceptance bill needs funds, he can apply to the bank for discount with the unexpired commercial acceptance bill.

5. It is applicable to settlement in the same city or other places.

Requirements for the issuance of commercial acceptance bills

This business is applicable to enterprises (institutions), other economic groups or individual industrial and commercial households that have been approved and registered by the administrative department for industry and commerce (or competent authority) and have a high degree of credibility, sufficient cash flow and strong repayment ability that hold unexpired commercial acceptance bills and need to be paid in cash. The application conditions for commercial acceptance bills are as follows:

1.The applicant for the discount of commercial acceptance bills shall be an enterprise, public institution legal person or other economic organization approved and registered by the State Administration for Industry and Commerce or the competent department.

2.There is a real and legal commodity and labor transaction relationship between the discount applicant and the drawer or the direct predecessor, and the corresponding commodity transaction contract and VAT invoice can be provided.

3.The transaction contract of the commercial acceptance bill that is required to be discounted must be legal and have complete elements, that is, the discounted commercial acceptance bill must comply with the Negotiable Instruments Law[3] and meet the requirements of the issuance, endorsement and acceptance of the commercial acceptance bill stipulated by the system, and there are no words such as "non-transferable" and "pledged" on the bill.

4.Open a deposit account at the discount.

5.The economic benefits and credit standing of the discount applicant are good.

6.Other conditions required by the bank.

The difference between a banker's acceptance bill and a commercial acceptance bill

The subject of acceptance is different: commercial bills are divided into commercial acceptance bills and bank acceptance bills. A bill of exchange that is promised by a bank to be paid when due is called a banker's acceptance bill; A bill of exchange that is committed to payment due by a strong and reputable enterprise is called a commercial acceptance bill.

The degree of credit is different: the bank acceptance bill is a kind of forward payment bill issued by the bank entrusted by the payer, and the bank has the obligation to pay at sight when the bill matures; A commercial acceptance bill is a forward payment bill issued by the payer, and its credit is lower than that of a bank acceptance bill because it is not guaranteed by the bank.

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