As can be seen from the above definition, a check is a sight draft drawn on a bank, which can be regarded as a special case of a draft. The amount of the cheque issued by the drawer shall not exceed the amount of its deposit with the drawee. If the deposit is less than the check amount, the bank will refuse to pay. This kind of check is called a bad check, and the drawer should bear legal responsibility.
To open a checking account and collect checks, you must have a reliable reputation and deposit a certain amount of money. Checks can be divided into cash checks and transfer checks. Once a cheque is endorsed, it can be circulated and transferred. It has the function of money and becomes a credit circulation tool to play the role of circulation means and payment means instead of money. The use of checks for currency settlement can reduce the circulation of cash and save the cost of currency circulation.
Legal expression of cheque
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The relevant laws and regulations on cheques in China's negotiable instruments law are as follows:
Article 82 A cheque is a bill issued by the drawer, and a bank or other financial institution entrusted to handle cheque deposit business unconditionally pays a certain amount to the payee or holder at sight.
Article 83 To open a checking account, the applicant must use his real name and submit legal documents to prove his identity.
When opening a checking account and collecting checks, you should have reliable credit standing and deposit certain funds.
When opening a checking account, the applicant should keep the signature pattern and seal of his real name.
Article 84 A cheque may be withdrawn in cash or transferred. When it is used for transfer, it shall be indicated on the front of the cheque.
If the cheque is specially used to withdraw cash, a cash cheque can be made separately, and the cash cheque can only be used to withdraw cash.
If the cheque is specially used for transfer, you can make a transfer cheque separately. Transfer cheque can only be used for transfer, and cash cannot be withdrawn.
Article 85 A cheque must contain the following items:
(a) The word "inspection";
(2) Unconditional payment entrustment;
(3) The determined amount;
(4) the name of the payer;
(5) Date of issue;
(6) Signature and seal of the drawer.
If one of the items specified in the preceding paragraph is not recorded on the cheque, the cheque is invalid.
Article 86 The amount on a cheque may be supplemented with the authorization of the drawer, and the cheque before the supplement may not be used.
Article 87 If the payee's name is not specified on a cheque, it may be supplemented with the authorization of the drawer.
Where the place of payment is not specified on the cheque, the business place of the payer is the place of payment.
If the place of issue is not specified on the cheque, the business place, domicile or habitual residence of the drawer shall be the place of issue.
The drawer may record himself as the payee on the cheque.
Article 88 The amount of a cheque issued by the drawer of a cheque shall not exceed the actual deposit at the drawee at the time of payment.
If the cheque issued by the drawer exceeds the actual deposit amount of the payer at the time of payment, it is a bad cheque. It is forbidden to issue bad checks.
Article 89 The drawer of a cheque may not issue a cheque that is inconsistent with its reserved real name signature pattern or seal.
Article 90 The drawer must bear the responsibility of guaranteeing payment to the holder according to the amount of the cheque issued.
When the drawer's deposit with the drawee is sufficient to pay the check, the drawee shall pay in full on the same day.
Article 91 A cheque is limited to payment at sight, and the date of payment may not be specified separately. If the payment date is recorded separately, the record is invalid.
Article 92 The holder of a cheque shall present payment within 10 days from the date of issue; For cheques used in different places, the time limit for presenting payment shall be stipulated separately by the People's Bank of China.
If the time limit for presenting payment is exceeded, the payer may refuse to pay; If the drawee refuses to pay, the drawer shall still bear the bill liability to the holder.
Article 93 If the payer pays the amount of a cheque according to law, it will no longer be responsible for entrusting the drawer with payment and paying the holder. However, unless the payer pays in bad faith or has gross negligence.
Article 94 The provisions of Chapter II of this Law shall apply to the endorsement, payment and recourse of a cheque, in addition to the provisions of this Chapter.
In addition to the provisions of this chapter, the provisions of Articles 24 and 26 of this Law on bills of exchange shall apply to the issuance of cheques.
Items that must be checked
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The necessary items for inspection include:
1. The word "check";
2. Unconditional payment instructions;
3. Date and place of issue (if the place of issue is not specified, the place next to the name of the drawer shall be regarded as the place of issue);
4. The name and signature of the drawer;
5. Name and address of the paying bank (if the place of payment is not specified, the place of payment shall be the place where the paying bank is located);
6. Payer;
7. Payment amount;
Type of check
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(1) A check with the payee's name in the payee column, such as "Pay A Only" or "Pay A Instruction", must be signed by the payee before withdrawal.
(2) A cheque paid to the holder is also called a blank cheque. The name of the payee is not recorded on the cheque, but only "drawee". When withdrawing money, the holder can withdraw money without signing on the back of the check. This check can only be transferred on delivery.
(3) A crossed check is a check that draws two parallel lines on the front of the check. Crossed checks are different from ordinary checks. The crossed cheque is not allowed to collect the fare unless it is paid by the bank, so the bank can only be entrusted to collect the drawer's account. The purpose of using crossed checks is to recover money from clues collected by banks when checks are lost or impersonated.
(4) Certified check means that in order to prevent the drawer from issuing a blank check and ensure payment when presenting the check, the payee or holder of the check can ask the bank to "guarantee payment" for the check. Guaranteed payment means that the paying bank stamps the cheque with "guaranteed payment" to show that the cheque must be paid when presented. Once the check is guaranteed, the bank will bear the responsibility for payment. Both the drawer and the endorser have the right of recourse. The paying bank will transfer the money in the drawer's account to a special account for payment after guaranteeing the payment of the check, so it will not be returned when presenting the guaranteed check.
(5) A bank check is a check issued and paid by a bank, and it is also a bank draft at sight. When a bank handles the remittance of a bill on behalf of a customer, it may issue a bank check.
(6) Traveler's check is a fixed payment tool issued by banks or travel agencies for tourists, and it is a means of payment for tourists to buy cash from the issuing institution.
Compared with other checks, traveler's checks have the following characteristics:
① The quantity is relatively small.
② There is no designated payer and payment place. You can withdraw money from the issuing bank, foreign branches of travel agencies or agents.
③ It is safer. When buying traveler's checks to withdraw money, passengers must go through the formalities of initial signing and re-signing before withdrawing money.
(4) the remitter is also the payee. Other checks are deposited in the bank before they can be withdrawn, while traveler's checks are purchased in cash, similar to bank drafts, except that the drawer of traveler's checks is also the payee.
⑤ The circulation period is not specified. Because it is profitable to issue traveler's checks without paying interest, banks and travel agencies compete to issue traveler's checks.
The difference between bills of exchange, promissory notes and checks
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Bills of exchange, promissory notes and checks all belong to the narrow category of bills, and their constituent elements are roughly the same. They all have the basic conditions for issuing, endorsing, accepting and paying securities, and they are all negotiable circulation tools. The main differences between them are:
(1) Bills of exchange and checks have three basic parties, namely the drawer, the drawee and the payee; There are only two basic parties to a promissory note: the drawer (the payer and the drawer are the same person) and the payee.
(2) There must be a capital relationship between the drawer and the drawee of the check before the check can be issued; There is no need for a capital relationship between the drawer and the drawee; The drawer and payer of a promissory note are the same person, and there is no so-called capital relationship.
(3) The principal debtor of checks and promissory notes is the drawer, and the principal debtor of bills of exchange is the drawer before acceptance and the acceptor after acceptance.
(4) Time bills need to be accepted. Usually, checks do not need to be accepted at sight, and promissory notes do not need to be accepted.
(5) The drawer of the bill guarantees acceptance and payment, and if there are other acceptors, the acceptor guarantees payment; The drawer of the check guarantees the payment of the check; The drawer of a promissory note is responsible for payment.
(6) The holder of a cheque or promissory note has the right of recourse only to the drawer, and the holder of a bill has the right of recourse to the drawer, endorser and acceptor within the validity period of the bill.
(7) There are copies of bills of exchange, but there are no copies of promissory notes and checks.
(8) Checks and promissory notes do not have rejection certificates, while drafts do.
Check validity period
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Since a check is a tool for immediate payment, rather than cash, its validity period is short. China's "Negotiable Instruments Law" stipulates that the holder of a cheque shall present payment within 10 days from the date of issue; For cheques used in different places, the time limit for presenting payment shall be stipulated separately by the People's Bank of China. If the time limit for presenting payment is exceeded, the payer shall not pay.
Characteristics, scope of application and application procedures of checks
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Features:
1, easy to use, simple and flexible program;
2. The time limit for presentment payment of a cheque is 10 day from the date of issue;
3. Cheques can be transferred by endorsement, but cheques used for cash withdrawal cannot be transferred by endorsement.
Scope of application:
All payments between units and individuals in the same city settlement area can be settled by cheque.
Application procedure:
1. To open a checking account, the applicant must use his real name and submit legal documents to prove his identity;
2. When opening a checking account, the applicant shall keep his signature pattern and seal;
3. When opening a checking account and receiving a check, you should have reliable credit standing and deposit a certain amount of funds.
Can checks be used for payment?
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A cheque is a bill issued by the drawer, which entrusts a bank or other financial institution to handle the deposit business and unconditionally pays a certain amount to the payee or holder at sight. Checks are divided into ordinary checks, cash checks and transfer checks. Cash checks can only be used to withdraw cash. It can be issued by the depositor to withdraw cash from the bank, or it can be issued to other units and individuals for settlement or entrusted to the bank to pay cash to the payee. Transfer cheque can only be used for transfer, and it is suitable for depositors to transfer money to the payee within the same city to handle the settlement of current accounts such as commodity trading, labor supply and debt settlement; Ordinary checks can be used to withdraw cash or transfer money. But if you draw two parallel lines in the upper left corner of an ordinary check, it is a crossed check, which can only be used for transfer, not for cash withdrawal.
To sum up, the characteristics of cheque settlement are simple, flexible, fast and reliable. The so-called simplicity means that the settlement procedure is simple by cheque. As long as the payer has enough money in the bank, he can issue a check to the payee, and the bank can transfer money or pay in cash with the check. The so-called flexibility means that according to the regulations, a cheque can be issued by the payer to the payee for direct settlement, or it can be issued by the payer to entrust the bank to actively pay the payee, and the transfer cheque can also be endorsed and transferred in a designated city. The so-called fast, refers to the use of checks for settlement, the payee will check and bills to the bank, usually the same day or the next day can be credited, and the use of cash checks can get cash at that time. The so-called reliability means that it is strictly forbidden for banks to write bad checks. All units must be within the balance of bank deposits to write checks, and the payee can get the money by check. Generally, there is no abnormal payment.
Check the fill style and format.
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Ordinary checks are divided into cash checks and transfer checks. There is a clear mark on the front of the check. Cash check can only be used to withdraw cash (only in the same city); Transfer cheque can only be used for transfer (limited to the same city, including Yuhang and Xiaoshan).
Fill in the check:
1. Date of issue (in words): Numbers must be capitalized, and capitalized numbers should be written as zero, one, two, three, four, five, six, seven, eight, nine and ten.
For example: August 5, 2005: August 5, 2005.
You don't have to write zero eight months ago, but you have to write zero five days ago.
February 2006 13: 2006, two months and thirteen days.
(1) Zero characters must be written before February, and zero characters can be written before March to September. From 10 to 12, it must be written as 10/0, 10/month1day,1day.
(2) The zero word must be written before 1 day to day 9, and the day from 10 to day 19 must be written as day 10 and day 10 x (it is also acknowledged that the word "zero" is written before, for example, the same below).
2. Payee:
(! ), the payee of the cash check can be written as the company name. At this time, the "endorsee" column on the back of the cash check is stamped with the company's special financial seal and legal person seal, and then the payee can withdraw cash directly from the bank with the cash check. Because some banks are networked, they can also withdraw money from networked businesses, depending on the coverage of the network.
(2) The payee of a cash check can be written as the payee's personal name. At this time, the back of the cash check is not stamped with any seal. The payee fills in the ID number and the name of the issuing authority on the back of the cash check, and signs the payment with the ID card and the cash check.
(3) The payee of the transfer check should fill in the name of the other company. The company does not stamp the back of the transfer check. After the payee obtains the transfer cheque, the payee's special financial seal and legal person seal are affixed to the endorsement column on the back of the cheque, and a bank draft is filled in, which is handed over to the payee's bank to entrust the bank to collect money.
3. Payer's name and drawer's account number: that is, the name and account number of the bank where the account is opened, such as Jiulian Branch of ICBC High-tech Branch.
1202027409900088888
The account number is lowercase.
4. RMB (in words): figures in words: zero, one, two, three, four, five, six, seven, eight, nine, one hundred million, ten thousand and one hundred and ten.
Check the fill style and format.
Source: Author:
Note: The word "10,000" has no one side.
Example: (1), 289,546.52, 289,000, Wu Bai, 46 yuan and 52 cents.
(2), 7,560,5438+0,700 Wu Bai sixty-three points.
At this time, the words "six yuan and three points" and "zero" can be written or not.
③532.00 Wu Bai thirty-two yuan only.
"Whole" can also be written as "whole". Can't be written as "zero angle zero"
(4)425.03 Four hundred and twenty-five yuan and three cents
(5) 325.20 Three hundred and twenty-five yuan and twenty cents.
You can add the word "positive" after the corner word, but you can't write "zero", which is quite special.
5. RMB in figures: the prefix "RMB" shall be crossed out of the first blank box of the maximum amount, and the figures shall be complete and clear.
Step 6 use:
(1) Cash checks are subject to certain restrictions, which generally include "petty cash", "travel expenses", "salary" and "labor expenses".
(2) There is no specific provision in the transfer cheque, and "payment" and "agency fee" can be filled in.
7. Seal:
The front of the check is stamped with the special financial seal and the company seal, both of which are indispensable. The inkpad is red, and the seal must be clear. If the seal is blurred, this check can only be invalidated, and you can fill in a new one and stamp it again. See "2. Whether payee "is reverse printing.
8. Common sense:
(1), the front of the check can't have altered marks, otherwise the check is invalid.
(2) If the payer finds that the cheque is incomplete, it can be supplemented, but it cannot be altered.
(3) The check is valid for 10 day, counting from beginning to end as one day. The holiday was postponed.
(4) Cheques are payable at sight and are anonymous. The loss of checks, especially cash checks, may mean the loss of face value, and the bank will not be responsible. The basic elements of a cash check have been completed. If the cheque is not fraudulently claimed, report the loss to the bank where it is opened; If the elements of the transfer check are complete, report the loss to the bank where the account is opened; If the elements are incomplete, report the loss at the clearing center. )
(5) The drawer's cash check has a vague seal on the back. You can go through the fuzzy seal and cover it again.
(6) The stamp on the back of the payee's transfer cheque is vague (at this time, the Negotiable Instruments Law stipulates that it cannot be remedied by re-stamping). The payee can go through the collection formalities at the drawer's bank with the transfer check and bank draft (without paying the handling fee), commonly known as "counter-typing", and there is no need to go to the drawer to reissue the check.
Processing procedure of cash check
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When the drawer's bank receives the payee's cash check (attachment 15), it shall carefully examine:
(1) Whether the check is a uniformly printed voucher, whether the check is authentic or not, and whether the payment period is exceeded;
(2) Whether the payee's name recorded on the cheque is the payee, whether the payee signs and seals the "payee's signature" on the back of the cheque, and whether the signature is consistent with the payee's name;
(3) Whether the signature of the drawer meets the requirements, check whether the signature is consistent with the signature of the reserved bank, and whether the payment password is correct;
(4) Whether the amount in words and figures of the cheque is consistent;
(5) Whether the items that must be recorded in the cheque are complete, whether the amount, date and payee's name of the cheque are changed, and whether the changes in other recorded items are certified by the signature of the original recorder;
(6) Whether there is enough money in the drawer's account;
(7) Whether the withdrawn cash complies with the provisions of national cash management.
If the payee is an individual, the identity document should also be checked, and whether the name, number and issuing authority of the identity document are indicated at the "payee's signature" on the back of the check. After verification, the payee will be given a bronze medal or a check list, and the cashier will withdraw money. At the same time, pay from the drawer's account, and send the cheque to the cashier for payment, and then use it as a debit voucher. The entry is:
Drawer of (debit) ×× account
Cash (loan)
Processing program of crossed cheque
The procedures for handling crossed cheques (Annex 16) by the holder and the drawer's bank shall be handled with reference to the procedures in Article 1. ..
Processing program of ordinary check
If the drawer's bank receives the payee's withdrawal of cash by ordinary check (attachment 16), it shall be handled according to the procedure in 2.
The transfer of ordinary checks shall be handled according to the procedures in 1.