国际支付预结算11.docVIP

第三章 1，汇票的定义：An unconditional order in writing , addressed by one person ( the Drawer) to another( the Drawee), signed by the person giving it, requiring the person to whom it is addressed( the Drawee who when he signs becomes the Acceptor) to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to beaerer ( the payee). 2，Acts of bill of Exchange: a, Issuance. To issue a draft comprise two acts to be performed by the drawer. One is to draw and sign a draft; the other is to deliver it to the payee. b, Presentation. A draft must be duly presented for payment if it is a sight bill or duly presented for acceptance first and then presented for payment at maturity if it is a time bill. c, Acceptance. Acceptance of a draft is a signification by the drawee of his assent to the order given by the drawer. d, Payment. Act of payment is performed when a bill of exchange is paid. A bill is discharged by payment in due course only when such payment is made by or on behalf of the drawee or the acceptor. Endorsement, it is an act of negotiation. Discounting, is to sell a time bill already accepted by the drawee but not yet fallen due to a financial institution at a price less than its face value. Classification of bill of exchange According to the tenor A, sight bill. It is a bill payable on demand or atsight on presentation. B, time bill or usance bill. It is a payable at a fixed or determinable future time 本票定义: A promissory note is an unconditional promise in writing made by one person( the maker) to another( the payee or the holder) signed by the maker engaging to pay on demand or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bearer. Differences between promissory note and bill of exchange: A, A promissory note is a promise to pay, whereas a bill of exchange is an order to pay. B, There are only two essential parties to a promissory note,