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Commercial Bills
Commercial Bill Services
A commercial bill is an instrument issued by a drawer, entrusting the drawee to make an unconditional payment of a specified amount to the payee or holder on or by a designated date. It is categorized into bank acceptance bills and commercial acceptance bills, with a maximum maturity of six months.
Bank Acceptance Bills
A bank acceptance bill is a bill issued by an acceptance applicant and accepted by a bank, which entrusts the accepting bank to make an unconditional payment of a specified amount to the payee or holder on a designated date.
Commercial Bill Discounting
Commercial bill discounting is a financing activity in which the payee or holder of a commercial bill, in order to obtain funds before the bill's maturity date, transfers the rights to the bill to a financial institution in exchange for payment, after deducting a certain amount of interest. The bank pays the remaining balance to the payee after deducting the discount interest from the bill's face value.
Commercial Bill Rediscounting
Commercial bill rediscounting refers to a transaction where in which a financial institution holding a commercial bill transfers the rights to the bill to another financial institution before its maturity date. The latter institution pays an agreed amount to the holder after deducting a certain amount of interest. It is a method for inter-financial institutional financing. This business is categorized into two transaction types: rediscount-in (purchase) and rediscount-out (sale).
Commercial Bill Repurchase
Commercial bill repurchase (repo) is a transaction in which a party purchases legally obtained, unmatured commercial bills from a client for a limited period, with an agreement for the seller to buy back the bills at a predetermined time, price and method. Repurchase agreements are divided into two types: reverse repos (purchase with an agreement to resell) and repos (sale with an agreement to repurchase). The rights to the bill remain with the seller throughout the entire transaction process.
Bill Pooling
Bill pooling services consist of two main components: basic custody services and pledge financing services. Basic custody services provide bill custody, entrusted collection and bill information inquiries for clients' electronic commercial bills placed into the pool. Pledge financing services involve using the pooled electronic bank acceptance bills as collateral to handle bill issuance and acceptance business within the generated financing quota.
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BANK OF CHINA (BOC)
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