A bill of exchange is issued by the drawer, which requires the drawee to unconditionally pay a certain amount of bills to the payee or holder at sight or within a certain period of time. If the drawer has enough money with the payer, the payer should pay it, regardless of whether the drawer is bankrupt or not. If he doesn't pay, he can sue the payer or the payer. However, the bankruptcy of the drawer may make the payer refuse to pay, so you should take it to the payer or the drawer for acceptance as soon as possible!
After bankruptcy, there is still no exchange, and only recourse can be made according to bankruptcy claims. At this time, the draft is equivalent to an IOU, and you can sue the drawer, payer and acceptor.
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The difference between bank acceptance bill and commercial acceptance bill
1, different concepts.
Bank acceptance bill is a kind of commercial bill. It refers to a bill in which a depositor opens a deposit account in an accepting bank, applies to the opening bank and is accepted by the opening bank, and guarantees to unconditionally pay a certain amount to the payee or holder on the specified date.
Commercial acceptance bill is a kind of commercial bill. Refers to the bill drawn by the payee and accepted by the drawee, or the bill drawn and accepted by the drawee. The entity using the draft must be a legal person who has opened an account with the People's Bank of China, and must be based on legal commodity transactions. After the bill is accepted, the acceptor (that is, the payer) is responsible for unconditionally paying the due bill, and the bill can be discounted or transferred to the bank.
2. Different credit ratings
Commercial acceptance bill and bank acceptance bill have different acceptors, which determines that commercial acceptance bill is commercial credit and bank acceptance bill is bank credit. In real transactions, the bill collector prefers to choose bank acceptance bills.
3. Different treatment methods
When the bank acceptance bill expires, if the buyer fails to pay in full, the accepting bank will regard it as an overdue loan according to the acceptance agreement and charge a penalty interest. The bank will pay the ticket holder and recover the payment on time. When the commercial acceptance bill expires, there is not enough money in the account. The bank is not responsible for the payment, which is handled by the buyer and the seller themselves.
4. Different applicable objects
Commercial acceptance bills are applicable to enterprises (legal persons), other economic groups or individual industrial and commercial households that use unexpired commercial acceptance bills for cash payment and are approved and registered by the administrative department for industry and commerce (or the competent authority), with high credibility, sufficient cash flow and strong repayment ability.