The difference between the maturity date, acceptance date and payment date of a letter of credit

The acceptance date and the acceptance maturity date are for the usance bill, the former is also called the acceptance reminder date, that is, this kind of usance bill is seen at the bill payer on this day, and the payer signs the acceptance on it, promising to pay on the maturity date of the bill. The latter is also called the payment reminder date of the usance bill, that is, the day when the bill of exchange by the acceptance reminder reaches the payment deadline.

Further information: L/C refers to a written certificate issued by the bank to the exporter (seller) at the request of the importer (buyer) to guarantee the responsibility of paying the purchase price. In the L/C, the bank authorizes the exporter to issue a bill of exchange not exceeding the prescribed amount under the conditions specified in the L/C, with the bank or its designated bank as the payer, and to attach the shipping documents as required, and to collect the goods at the designated place on time.

The general procedure for payment by letter of credit is:

1) The parties to the import and export shall clearly stipulate in the sales contract that payment shall be made by letter of credit.

2) The importer submits an application for issuance to the bank where it is located, fills in the application for issuance, and pays a certain deposit or provides other guarantees, and asks the bank (issuing bank) to issue a letter of credit to the exporter.

3) The issuing bank shall issue a letter of credit in favour of the exporter according to the content of the application, and notify the exporter of the L/C through its ** bank or correspondent bank (collectively referred to as the advising bank) in the exporter's location.

4) After the exporter ships the goods and obtains the shipping documents required by the L/C, he shall negotiate the payment to the bank where he is located (which can be the advising bank or other banks) according to the provisions of the L/C.

5) After the negotiating bank negotiates the payment, the negotiating amount shall be indicated on the back of the L/C.

In international activities, the buyer and the seller may not trust each other, and the buyer is worried that the seller will not deliver the goods according to the contract requirements after the advance payment; The seller is also concerned that the buyer will not pay after shipping the goods or submitting the shipping documents. Therefore, it is necessary for two banks to act as guarantors for both the buyer and the seller, to collect and submit documents on behalf of the buyer, and to replace commercial credit with bank credit. The instrument used by banks in this activity is the letter of credit.

There are three characteristics of the letter of credit method:

First, the letter of credit is a self-sufficient instrument. The letter of credit is not attached to the sales contract, and the bank emphasizes the written certification of the separation of the letter of credit and the basic ** when reviewing the documents;

Second, the letter of credit is a pure documentary transaction. The letter of credit is a voucher payment, not the goods. As long as the documents match, the issuing bank should pay unconditionally;

Third, the issuing bank bears the primary responsibility for payment. A letter of credit is a kind of bank credit, it is a kind of guarantee document of the bank, and the issuing bank has the primary responsibility for payment.

The difference between the maturity date, acceptance date and payment date of the letter of credit is that these are three completely different concepts - the so-called maturity date generally refers to the validity period of the letter of credit, that is, the letter of credit expires after this day. An expired L/C is invalid and the issuing bank will no longer be liable for payment.

The so-called acceptance date refers to the date on which the acceptor of the bill of exchange accepts the bill. If the acceptance date is mentioned in the letter of credit, it is the date of acceptance of the bill of exchange of the issuing bank.

The so-called payment date is the date on which the payer makes the payment. In the case of a letter of credit, the payment date is the payment date of the issuing bank. In the case of a usance bill, it is the date on which the acceptor (and also the payer) is due.

The acceptance date refers to the date of the acceptance bill, and the acceptance date in the letter of credit refers to the date of the acceptance of the bill of exchange of the issuing bank. The maturity date generally refers to the validity period of the L/C, after which the L/C will be invalid and the issuing bank will no longer bear the payment liability.

The maturity date of the bank acceptance draft, that is, the term of the acceptance draft, the validity period of the paper draft shall not exceed 6 months, and the electronic draft shall not exceed 12 months.

The maturity date generally refers to the validity period of the L/C, that is, the L/C expires after this day, and the expired L/C means that the L/C is invalid, and the issuing bank will no longer bear the payment liability. The acceptance date refers to the date on which the acceptor of the bill of exchange accepts the bill, and if the acceptance date is mentioned in the letter of credit, it is the date on which the issuing bank accepts the bill.

The difference between the acceptance date and the maturity date: the acceptance date is the date of the acceptor's acceptance of the bill; The maturity date refers to the validity period of the L/C, after which the L/C cannot continue to be accepted, and the L/C is invalid at the same time, and the issuing bank has no responsibility for payment. Commercial bills can be issued by either the payer or the payee, but they must be accepted.

If the commercial bill of exchange is due, due to the acceptor's lack of payment or other legal reasons, the creditor can not get the payment, can be in the order of endorsement of the bill of exchange.

1. What is the date of acceptance of the commercial bill and the maturity date of the bill.

Acceptance date: The date on which the bank undertakes to make unconditional payment, i.e. the maturity date, which is 90 days Remaining days in April Actual number of days in May Actual number of days in June 90 (30 15) 31 30 14.

The bearer can only determine its right to claim payment after the payer has made an acceptance. Therefore, from April 28th, the day can only be counted after the acceptance is prompted. The payment term of the bill of exchange for regular payment after seeing the bill shall be calculated on a monthly basis from the date of acceptance or rejection of acceptance, and shall be recorded on the bill of exchange.

The title is indeed written as "Bank Acceptance Draft for Payment 3 Months After Sighting".

What is the date of acceptance of the commercial draft and the maturity date of the bill.

Second, what are the characteristics of commercial bill settlement.

Clause. 1. Compared with bank drafts, the scope of application of commercial bills is relatively narrow, and only legal commodity transactions between enterprises and institutions can be issued according to the purchase and sale contract. In addition to commodity transactions, other aspects of settlement, such as remuneration for labor services, debt repayment, capital loans, etc., cannot be settled by commercial bills.

Clause. Second, compared with bank drafts and other settlement methods, the use of commercial bills is relatively few. The object of use of commercial bills is a legal person or other organization that opens a deposit account in a bank.

Clause. 3. Commercial bills can be issued by the payer or by the payee, but they must be accepted. Only the accepted commercial bill has legal effect, and the acceptor bears the responsibility of unconditional payment when due.

According to the different payment time, it can be divided into: 1. L/C at sight. It refers to the letter of credit in which the issuing bank or the paying bank fulfills the payment obligation immediately after receiving the documentary draft or shipping document that meets the terms of the letter of credit.

2. Weance letter of credit. It refers to the letter of credit in which the issuing bank or the paying bank fulfills the payment obligation within the specified time limit when it receives the documents of the letter of credit. The maximum term of a usance letter of credit is more than 360 days (including 360 days).

There are 3 different periods: within 90 days, 90 days, 360 days (including 90 days), and more than 360 days (including 360 days). 3. Fake usance letter of credit. The letter of credit stipulates that the beneficiary shall issue a usance bill, and the paying bank shall be responsible for discounting, and stipulates that all interest and expenses shall be borne by the issuer.

For the beneficiary, this type of letter of credit is still in fact a collection at sight, and there is a "false usance" clause in the letter of credit.

Legal basis: Article 12 of the Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Cases Involving Disputes over L/C: After accepting an application for suspension of payment under a L/C, the people's court must make a ruling within 48 hours; Where a ruling is made to suspend payment, enforcement shall begin immediately.

When a people's court makes a ruling to suspend payment of money under a letter of credit, it shall specify the applicant, the respondent and the third party.

Article 13 of the Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Cases Involving Disputes over L/C: Where a party has any objection to the people's court's ruling to suspend payment of the money under the L/C, it may apply to the people's court at the next higher level for reconsideration within 10 days from the date of service of the ruling. The people's court at the level above shall make a ruling within 10 days of receiving the application for reconsideration.

The acceptance date is neither the date of issue nor the expiration date.

It is the date on which the bank promises to make an unconditional payment.

Theoretically, it is generally the drawer who issues the ticket first, and then the bearer goes to the bank for acceptance.

Bank payment after due.

However, in the actual operation process, the bills issued by the enterprise are generally accepted by the bank first, so that the bearer's heart is solid.

The bill that is paid at the sight of the bill, with the god to explain that the bank will give you money when it sees the ticket, then there is no need to accept.

The difference between acceptance date and maturity date is that they have different meanings and target different objects. The so-called acceptance date refers to the date on which the acceptor of the bill of exchange accepts the bill, which is aimed at the bill of exchange. The maturity date is for the letter of credit, which means that the validity period of the letter of credit has expired, and the letter of credit can no longer be accepted, and the letter of credit is also invalid.

The so-called acceptance bill is a bill of exchange that has gone through the acceptance procedures, generally including bank acceptance bill and commercial acceptance bill. The bank acceptance bill is a kind of payment bill that can be issued by the depositor after the bank has opened an account in the acceptance bank, and after the bank has reviewed and agreed to accept. Commercial acceptance bill refers to the bill of exchange issued by the payer that can be accepted, which is characterized by the fact that if the previous issue is a paper bill, the time limit is not more than six months, and if it is an electronic draft, the maximum can not exceed 12 months.

In addition, the commercial acceptance bill can also be endorsed and transferred, and at the same time, it can also apply to the bank for discounting.

The difference between the acceptance date and the maturity date: the acceptance date is the date of the acceptor's acceptance of the bill; The maturity date refers to the validity period of the L/C, after which the L/C cannot continue to be accepted, and the L/C is invalid and the issuing bank has no responsibility for payment. The prompt payment period for cheques is 10 days from the date of issuance, and the prompt payment period for cashier's checks is not more than 2 months from the date of issuance.

Acceptance bill refers to the bill of exchange that has gone through the acceptance procedures. Acceptance bills are divided into bank acceptance bills and commercial acceptance bills. A bank acceptance draft refers to an instrument issued by a depositor who opens a deposit account in an accepting bank, applies to the opening bank and is reviewed and accepted by the bank, and guarantees the unconditional payment of a certain amount to the payee or bearer on the specified date.

A commercial acceptance bill refers to a bill of exchange issued by the payee that is accepted by the payer or issued and accepted by the payer. The characteristics include the payment term: the maximum is not more than 6 months for paper tickets, and the maximum is not more than 12 months for electric tickets; Commercial acceptance bills can be endorsed and transferred; Commercial acceptance bills can be applied to the bank for discounting, etc.

The matters that must be recorded in the issuance of a commercial acceptance bill with a book, including indication"Commercial Acceptance Bills"The words of the unconditional payment, the amount determined, the name of the payer, the name of the payee, the date of issuance, and the signature of the drawer. If one of the above provisions is not recorded, the commercial acceptance bill is invalid.