The parties to a bank draft mainly include: drawer, payee, drawee and acceptor.

1. Drawer:

Drawer refers to a bank that draws a bank draft, that is, a bank that promises to pay a certain amount to the holder within a certain period of time.

2. Payee:

Payee refers to the beneficiary of the bank draft, that is, the person who holds the bank draft and receives the money paid by the bank.

3. Payer:

Payer refers to the person to whom the drawee needs to pay, usually the acceptor of the bill.

4. acceptor:

the acceptor refers to the bank that agrees to accept the bank draft, and acceptance means to assume the responsibility of the payer and pay the money on the bank draft to the holder.

In addition to the above basic parties, there are some other related parties, such as endorsers and guarantors. Endorser refers to the person signed by the holder when transferring the bank draft to others, and guarantor refers to the person who assumes the guarantee responsibility for the payment of the bank draft. The relationship between the parties to a bank draft is complicated, which requires all parties to know the relevant legal provisions and operating procedures in detail.

Use scenarios and advantages of bank draft:

1. Safe and reliable.

bank bills are accepted by banks or financial institutions, which has a certain guarantee in terms of payment ability and credibility. Therefore, the use of bank draft transactions, both parties can obtain a higher security. Bank drafts can be used worldwide, regardless of geographical restrictions. At the same time, the amount and maturity date of the draft can be adjusted according to actual needs, which has certain flexibility.

2. low cost.

Compared with other payment methods (such as cash, remittance, etc.), the formalities of bank draft are relatively low, which can effectively reduce transaction costs and improve transaction efficiency. Bank drafts can be used widely and can be used for payment of goods in transnational trade. Bills of exchange can be circulated between domestic and foreign banks or financial institutions, which is convenient and fast, and can greatly reduce the cost and risk of cross-border payment.

3. Domestic trade.

bank drafts can also be used to pay for goods in domestic trade. Compared with cash and remittance, bills of exchange are more secure and controllable, and the formalities are also lower. Bank drafts can be used for payment of project funds or service fees in service industries (such as construction and labor services). Trading through bank draft can effectively reduce the risk and cost of trading and improve the efficiency of trading.