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Bank Acceptance Draft
2021-11-25
Definition of product
Bank Acceptance Draft is a kind of business behavior, referring to that the holder pledge one or more unmatured commercial bills to the bank, and the bank accept one or more bank acceptance bills for payment. For example, exchange of bills with large amount for those with small amount, bills with short effective period for those with long effective period, bills with small amount for those with large amount as well as exchange of commercial bills for bank notes.
Scope of application
It is applicable to legal person of enterprises and other economic organizations receiving and paying bills frequently.
Characteristics：
◇Bill entrustment has been conducted, and authenticity of bills and be guaranteed;
◇Effectively use bills on hand, and complete convenient payment by “exchanging bills for bills”;
◇Turn financing into financial management to reduce financial cost;
◇Pledge as you use with simple procedures.
Handling conditions:
1. Legal person of enterprises or other economic organizations engaged in lawful business activities;
2. Opening a deposit account and a special deposit account in the bank;
3. There are proof materials proving that transaction background of pledged bills is true and legal.
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