A trade bill is a bill issued by the drawer to entrust the payer to unconditionally pay a certain amount to the payee or holder on a specified date. Commercial bills are divided into commercial acceptance bills and bank acceptance bills. Commercial acceptance bills are accepted by drawees other than banks (drawees are acceptors). Bank acceptance bills are accepted by banks. The so-called acceptance refers to the behavior that the drawee of a bill is willing to bear the obligation to pay the face value. Generally speaking, it is the act of acknowledging the unconditional payment of the bill amount when it is due. The payment term of a commercial bill shall not exceed 6 months at the longest (electronic commercial bills may be extended to 1 year).

Commercial bills generally have three parties, namely the drawer, the payee and the drawee. The drawer of a bank bill is a bank, and the drawer of a commercial bill is an industrial and commercial enterprise. Among them, the drawer of a commercial acceptance bill is a legal person or other organization that opens a deposit account in a bank, and the drawer of a bank acceptance bill is a legal person or other organization that opens a deposit account in an acceptance bank.

The main difference between a commercial bill and a bank bill is that the acceptor is different. In addition, the scope of application of commercial bills is relatively narrow and there are fewer users. Enterprises and institutions can only issue commercial bills if they conduct legal commodity transactions according to the purchase and sale contracts.

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1. A commercial bill can be issued by the drawee or payee, but it must be accepted.

Only accepted commercial bills have legal effect.

2. The unexpired commercial draft can be discounted in the bank.

3. Commercial bills can be used in the same city or in different places, and there is no limit to the starting point of settlement.

All commercial bills are registered and allowed to be transferred by endorsement. After the commercial bill expires, the law will handle the transfer settlement through the bank, and the bank will not pay cash. The time limit for presentment payment of a commercial bill is within 10 days from the due date of the bill.