⑥灭串御技空 Tianjin University of Science Technology Of course the order is valid only if the drawee has underlying obligation to pay money to the drawer This can arise in situations where the drawee is holding money on account of the drawer(i.e, the drawee is a bank), where the drawer lent money to a drawee(i.e, the drawee is a borrower),or 授 课 where the drawer has sold goods to the drawee and the drawee owes the sale price to the 师 drawer(i.e, the drawee is a buyer)
授 课 教 师 狄 琳 娜 ◼ Of course, the order is valid only if the drawee has underlying obligation to pay money to the drawer. This can arise in situations where the drawee is holding money on account of the drawer(i.e.,the drawee is a bank), where the drawer lent money to a drawee (i.e.,the drawee is a borrower), or where the drawer has sold goods to the drawee and the drawee owes the sale price to the d r a w e r ( i . e . , t h e d r a w e e i s a b u y e r )
⑥灭串御技等 Tianjin University of Science Technology e.g. a Exchange for US$1, 000 At sight pay to the order of the bank of China the sum of one thousand u.S. dollar only. Value received To: The City Bank 授 New york,NY,USA 课教师秋 For china national chemicals Import& Export Corporation, S B (signed)
授 课 教 师 狄 琳 娜 e.g. ◼ Exchange for US$1,000.— At sight pay to the order of the Bank of China the sum of one thousand U.S.dollar only. Value received. To:The City Bank New York, N.Y.,U.S.A. For China National Chemicals Import& Export Corporation, S.B. (signed)
⑥灭串科技尖婴m温 1. 2 Catete of liee ot exchange a bill of exchange must fulfil the following requirements: (iNdicating the word'draft'or"exchange (2)An unconditioned order in writing B Certain amount (4)Payers(drawee s) name, usually the buyer or 授 its nominated bank 课 ek(5)Payee's name usually the seller or its 师 nominated bank. (6) Date and place of issue tn (7) Signature of the drawer, usually the seller
授 课 教 师 狄 琳 娜 1.2 Contents of bill of exchange ◼ A bill of exchange must fulfil the following requirements: ◼ (1)Indicating the word”draft” or “exchange”. (2) An unconditioned order in writing. (3) Certain amount (4) Payer’s (drawee’s) name, usually the buyer or its nominated bank. (5) Payee’s name, usually the seller or its nominated bank. (6) Date and place of issue. (7) Signature of the drawer,usually the seller
⑥天串科技大等。通删 1.3/tete of bill ot exchange IsSue present Drawer Payee P aver accept, pay ()issue: The drawer draws and signs and delivers it to the payee. (2)Presentment: Production of a draft to a party liable to 课 pay on it for that party s acceptence(i.e,commitment 师 to pay) or payment tk(3)Acceptance: Acceptance means the drawee of the bill writes the(acceptor commits himself to pay the bill of
授 课 教 师 狄 琳 娜 1.3 Acts of bill of exchange Drawer Payee (1) issue: The drawer draws and signs and delivers it to the payee. (2) Presentment:Production of a draft to a party liable to pay on it for that party’s acceptence(i.e., commitment to pay) or payment. (3) Acceptance:Acceptance means the drawee of the bill writes the(acceptor) commits himself to pay the bill of Payer issue present accept,pay
⑥灭串斜技m 1. 4 7wked of il of exchage a (According to who is the drawer atake draft: It is a bill issued by a trader on another trader or on a bank b Banker 's draft: lt is a draft drawn by a bank on another bank. Both the payer and the payee are banks a(2)According to whether the shipping documents are attached or not 授 R aClean draft: It is a bill without shipping documents attached thereto 师 a b. Documentary draft: It is a bill with shipping documents attached thereto
授 课 教 师 狄 琳 娜 1.4 Types of bills of exchange ◼ (1)According to who is the drawer ◼ a.Take draft: It is a bill issued by a trader on another trader or on a bank. ◼ b.Banker’s draft: It is a draft drawn by a bank on another bank. Both the payer and the payee are banks. ◼ (2) According to whether the shipping documents are attached or not ◼ a.Clean draft: It is a bill without shipping documents attached thereto. ◼ b. Documentary draft: It is a bill with shipping documents attached thereto