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.