An acceptance bill, that is, a commercial bill, is a bill issued by the payee or payer (or the applicant for acceptance), accepted by the acceptor, and paid by the payee or endorser on the due date. Divided into commercial acceptance bills and bank acceptance bills.
1. A commercial acceptance bill refers to a bill issued by the payee and accepted by the payer, or issued and accepted by the payer. Commercial acceptance bills are applicable to commodity transactions between legal persons who open accounts in banks and between legal persons according to purchase and sale contracts, and can be used in the same city and in different places.
2. A bank acceptance bill refers to a bill issued by the payee or the applicant for acceptance, applied to the bank where the account is opened, and accepted after being audited by the bank. Bank acceptance bills are applicable to commodity transactions between state-owned enterprises, joint-stock enterprises, collectively-owned industrial enterprises, supply and marketing cooperatives and foreign-funded enterprises according to purchase and sale contracts. Other legal persons and individuals may not use bank acceptance bills.
If the acceptance bill is to be converted into cash, it should be noted that:
(1) When the payee or endorsee of a commercial bill needs funds, he can fill in the discount voucher with the acceptance bill due and apply to the bank where he opens the account for discount. "Discount coupon" in quintuplicate. First, apply for bank discount and pay the summons; The second income voucher is used by the bank as the voucher for discounting the income of the applicant's account; The third income voucher is used by the bank as a summons to discount interest income; The fourth payment notice, the bank's payment notice to the discount applicant; After the expiration of the fifth copy, the accounting department shall sort out and keep it according to the expiration date, and the expiration date shall be used as a voucher for discounted income.
(2) The discount period is from the discount date to the maturity date of the bill. The calculation method of the discounted amount paid is to deduct the interest from the discount date to the day before the maturity of the bill. The discount rate shall be implemented according to relevant regulations, which is 3% higher than the existing credit loan interest rate of the same grade.
The calculation formula of discount interest and paid discount amount is:
Discount interest = coupon period × discount days × discount rate
Discounted Amount Paid = Par Value Due-Discounted Interest
(3) When the discount expires, the discount bank collects the ticket from the acceptor. For commercial acceptance bills, if the acceptor's bank account is insufficient to pay, the bank where he opens the account shall immediately return the commercial acceptance bills to the discount bank, which will collect them from the account of the discount applicant.