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Some Knowledge Of Foreign Trade Bills

2009/2/19 16:59:00 42037

1., in accordance with certain forms, it is written that there is a certificate to pay a certain amount of money.

2. teller or certificate of delivery.

A generalized Bill: generally refers to all kinds of securities, such as bonds, stocks, bills of lading, etc.

Narrow notes: only refers to the purpose of paying the money for securities, that is, the issuer issued under the bill law, unconditionally to pay the amount determined or entrusted to others unconditionally to pay the amount paid to the payee or holder of the securities.

In China, bills are collectively referred to as bills of exchange, cheques and promissory notes.

I. concepts and types of bills

Generally speaking, a negotiable instrument is a certificate issued by a drawer, unconditionally appointed or required to pay a certain amount of negotiable securities, and the holder has certain powers.

They are: bills of exchange, promissory notes, cheques, bills of lading, certificates of deposit, stocks, bonds and so on.

Two. Characteristics of negotiable instruments

1. bills are credentials with certain powers: the right to claim payment and the right of recourse.

2. there is no reason for the rights and obligations of negotiable instruments. As long as the holder receives the bill, he has already obtained all the power entrusted by the bill.

3. the law of negotiable instruments requires standardization and standardization of forms and contents of negotiable instruments.

4. negotiable instruments are negotiable securities.

In addition to the limitations of bills themselves, negotiable instruments can be pferred by endorsement and delivery.

Three. Related parties

The relevant persons of the bill are: drawer (DRAWER), payer (DRAWEE), payee (PAYEE), acceptor (ACCEPTOR), acceptor (ACCEPTOR FOR HONOUR), endorser (ENDORSER), holder (HOLDER), bona fide holder (BONA FIDE FIDE), guarantor (c).

Four. Several major bills

1. BILL (OF EXCHANGE)

2. promissory note (PROMISSORY NOTES)

3. cheque (CHEQUE)

4. traveller's check (TRAVELER 'S CHEQUE)

Claim of negotiable instruments

1. The holder has the right to pay the principal debtor of the bill.

Two. The holder has the right to make payment for the acceptor.

Three. All powers of the drawee participating in the bill acceptor, the participating payer and his previous holder.

Four. The holder has the right to pay the guarantor.

Right of recourse

1. The holder and endorser have recourse to the former hand.

Two. The guarantor who has paid the bill has the right of recourse against the assured and his former.

Drawer (DRAWER)

A drawer is a person who issues bills and delivers them to others.

The drawer is the principal debtor of the bill.

A drawer or payee prompts a bill for payment or acceptance, and the drawer should immediately pay or accept it.

Payer (DRAWEE)

A drawee is a person who pays the face value of the bearer or payee. The drawee is not necessarily the drawer. He is only the debtor of the drawer.

Payee (PAYEE)

The payee refers to the person who receives the fare.

The payee has the right to ask the drawer or the drawee to pay or to accept it.

Acceptor (ACCEPTOR)

When a bill is a forward bill, the payee or holder shall ask the drawee to agree to pay the bill at maturity. The drawee is the acceptor.

Endorser (ENDORSER)

Endorser refers to a person who endorses a negotiable instrument on a negotiable instrument, usually signed or sealed on the back of the bill.

The person who accepts the endorsement instrument is called the endorser (ENDORSER), and the bill can be endorsed several times.

Holder (HOLDER)

A holder is a holder of a bill.

Only the ticket holders have the right to demand payment or acceptance.

Guarantor (GUARANTOR)

A person who guarantees the payment of a bill in his own name.

The guarantor can provide guarantees to the drawer, endorser, acceptor, or acceptor.

BILL (OF EXCHANGE)

I. definition (Definition)

The BILL OF EXCHANGE is an unconditional and written payment order issued by a person (drawer) to another person, requiring the payer to pay a certain amount of money to a person or his nominee or holder at an immediate or regular time or at a fixed time in the future.

Two. The role of bills of exchange

When the exporter collects the goods in the reverse way (collection and letter of credit), he needs to produce a written evidence to obtain the money from the importer.

A bill of exchange is a document issued by the drawer (exporter) to the drawee (importer), asking the drawee to make payment unconditionally or at a certain time.

Three. Necessary items

After receiving a bill, whether the bill is effective, according to the uniform law of the Geneva, this bill of exchange requires the following necessary items:

1. it is marked as the draft.

2. indicate the name or trade name of the drawee;

3. signature of drawer;

4. date and place of issue;

5. place of payment;

6. payment term;

7. amount;

8. the name of the payee.

Four. Species

1. according to the drawer, bank draft (Banker 's draft) and commercial draft (Trade Bill) are different.

2. according to the acceptor's difference: Commercial Acceptance Bill (Bill) and bank acceptance bill (Bank 's Acceptance Bill).

3. the payment time is different: Sight Bill or Demand draft, and time draft (Time Bill or Usance Bill).

4. according to whether there are subsidiary documents: Clean Bill, documentary draft (Documentary Bill).

Promissory note (PROMISSORY NOTES)

I. definition (Definition)

Promissory note (PROMISSORY NOTES) is an unconditional written promise that a person has issued to another person to ensure a certain amount of money paid to a person or his nominee or holder at a time or at a fixed time or at a definite future time.

Two. Necessary items

After obtaining a promissory note, is this promissory note effective? According to the uniform law of the Geneva, this promissory note requires the following necessary items:

1. it is marked as "promissory note".

2. unconditional commitments;

3. signature of drawer;

4. date and place of issue;

5. place of payment;

6. the term of payment may be deemed to be payable at sight if not written clearly.

7. amount;

8. the payee or his nominee.

Three. Species

1. general promissory note (PROMISSORY NOTE): a drawer is an enterprise or an individual, a note can be a spot promissory note, or a forward promissory note.

2. CASHER S ORDER: the drawer is a bank and can only be a spot promissory note.

Cheque (CHEQUE)

I. definition (Definition)

A check (CHEQUE) is a written order issued by a bank deposit to a bank that authorizes the bank to pay a certain amount of unconditional payment to a person or his nominee or holder.

Two. Necessary items

After receiving a check, does the bill come into effect? According to the uniform law of the Geneva, this draft requires the following necessary items:

1. it is written as "cheque".

2. the payee or his nominee;

3. the name of the paying bank.

4. date and place of issue;

5. place of payment;

6..

7. amount;

8. the name of the payee;

9. unconditional payment order.

Four. Species

1. CHEQUE PAYABLE TO ORDER: note the payee on the cheque, only the recipient can receive the payment.

2. CHEQUE PAYABLE TO BEARER: no payee is specified.