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International Business Practice and Case Study
国际贸易实务
与案例分析
Chapter 4 Payment of Goods
第4章 国际货物贸易货款支付
Section 1 Instruments of Payment
第1节 支付工具
3
1. Cash现金
2. Bill of Exchange汇票
(1)Definition of Bill of Exchange汇票的定义
(2)Contents of Bill of Exchange汇票的内容
① The words of “Bill of Exchange”, or "Draft" are required to be on the draft, to distinguish from other paying instruments (Promissory Note, Check), but it is not required in Bills of Exchange Act.
② It is an unconditional pay order in writing, with the unlimited payment, without proviso.
③ A certain sum, which is indicated in Arabic numbers and words in a definite currency including the interest, not allowed to be described with ambiguous words and approximate sum.
④ Drawee: the person to whom the order is addressed by the drawer and who is to pay the money. The drawee of a commercial draft can be the buyer, importer or bank, the drawee of the banker's draft is definitely a bank.
⑤ Payee: the person to whom the payment is ordered to be made. In the import and export business, he can be an exporter, seller, an appointed bank or a normal holder of the draft.
There are three kinds of ways to fill up the payee:
A. Restrictive payee
B. Demonstrative Order
C. Pay to Bearer
⑥ Drawer, the person who issues the draft. The property of the draft is different according to different drawers. The drawer of a commercial draft is an exporter while the drawer of the banker's draft is a bank. After signing the draft, the drawer assumes the responsibility of guaranteeing that the draft will be paid or accepted, that is, he becomes the main debtor of the draft. If the signature is fake or not authorized, the draft is invalid.
⑦ The Date of Issu