Bank acceptance is a promise made by the bank to the applicant for acceptance to pay the amount of the bill to the holder on the maturity date of the bill. The commercial bill promised by the bank is a bank acceptance bill.
An applicant for discounting bank acceptance bills must meet the following conditions:
1. Enterprise legal persons and other organizations that open deposit accounts in banks;
2. Having a real commodity trading relationship with the drawer or direct predecessor;
3. Provide a copy of the VAT invoice and cargo shipping documents with the immediate predecessor;
4. The bank acceptance bill is true and legal, with complete elements and continuous endorsement, which meets the requirements of Bill Law and Payment and Settlement Measures.
Acceptance payment:
1. When the payer of a commercial bill receives the bill presented for acceptance by the drawer or the holder, he shall issue a bill receipt to the drawer or the holder, indicate the date of presentation for acceptance, and sign it. The drawee shall accept or refuse to accept the bill within three days from the date of receiving it.
2. If the payer refuses to accept, he must issue a certificate of refusal.
3. When accepting a commercial bill, the drawee shall indicate the word "acceptance" and the date of acceptance on the front of the bill, and sign and seal it.
4. When accepting a commercial bill, the drawee shall not attach any conditions; Otherwise, it is regarded as rejection.
Legal basis:
Relevant provisions on collection of bank acceptance bills
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Acceptance bills mentioned in this system include bank acceptance bills and commercial acceptance bills.