Bill of exchange意思

A bill of exchange, also known as a draft, is a financial instrument used primarily in international trade to make payments. It is a written order from one party (the drawer) to another (the drawee), instructing the drawee to pay a certain sum of money to a third party (the payee) or to the drawer, depending on the terms of the bill.

Here's a simplified breakdown of the key elements and parties involved in a bill of exchange:

  1. Drawer: The party that issues the bill of exchange and is typically the seller or exporter in an international transaction.

  2. Drawee: The party on whom the bill of exchange is drawn, usually the buyer or importer.

  3. Payee: The party to whom the payment is to be made as stated in the bill of exchange. This can be the drawer or a third party.

  4. Payor: The party that makes the payment according to the terms of the bill of exchange. This can be the drawee or, in some cases, a bank if the bill is accepted and becomes a banker's acceptance.

  5. Acceptance: If the drawee agrees to pay the amount stated in the bill of exchange, they "accept" it, which means they are committing to making the payment on the specified date.

  6. Date of maturity: This is the date on which the payment is due, which can be at sight (immediately), after a fixed period, or on a specific date.

Bills of exchange can be used for various purposes, including making payments, financing trade, and ensuring that payment is made on time. They are often used in conjunction with letters of credit, which are issued by banks and provide a guarantee of payment subject to certain conditions being met.

Bills of exchange are governed by the rules of the International Chamber of Commerce's Uniform Customs and Practice for Documentary Credits (UCP) and the International Standby Practices (ISP) for standby letters of credit and performance guarantees.