For Evergrande, it is because the commercial draft cannot be cashed, which has triggered the development crisis of the enterprise. Of course, at this time, you may ask, why don't the suppliers of Evergrande discount the bills?
Let's talk about what bill discount is and why Evergrande's suppliers don't choose discount.
What is bill discount? Bill discount means that enterprises can choose to sell their commercial bills to banks or discount companies when they need funds. After deducting the discount fee, the bank or discount company will pay the corresponding balance directly to the enterprise.
Banks or discount companies can collect money from the acceptor after the commercial paper expires. Or banks can also conduct rediscount business.
Specifically, when bills are discounted, the actual payment amount = face value-discount interest. The calculation of bill discount interest is divided into two situations:
1, interest-free
Discount interest = bill face value * discount rate * discount period.
For example:
Tiger said that the finance and taxation company had a bill due at 202 1 on July 20, with an amount of 20,000 yuan, without interest. Nonsense, the finance and taxation company applied to the local bank for discount on April 2 1 and April 202 1, and the bank discount rate was 3.6%.
Discounted interest =20000x90x3.6%/360= 180 yuan.
Tiger said that the amount that the finance and taxation company can get =20000- 180= 19820 yuan.
2. With interest
Discount interest = bill maturity value * discount rate * discount days /360
For example, on March 1 20265438, Hu said that Finance and Tax Company received a commercial acceptance bill with a face value of 20,000 yuan and a maturity of 6 months in coupon rate. On May 1 day, Hu said that in order to solve the funding problem, the finance and taxation company chose to discount in the bank, and the discount rate of the local bank was 7%.
Maturity value of bills = 20 000x (1+5%/2) = 20,500 yuan.
The maturity date of this bill receivable is 202 1 September1,and its discount days should be 123 days (3 1 +30 +3 1
+3 1)。
Discount interest of bills = maturity value of bills * discount rate * discount days/360 = 20500 * 7% *123/360 = 490.29 yuan.
Tiger said that the amount that the finance and taxation company can get = 20000-490.29 = 1509+0 yuan.
Why don't Evergrande's suppliers choose discounts? It's not that Evergrande's suppliers don't choose to discount, but they can't choose to discount.
To understand this problem, we need to know what commercial paper Evergrande pays externally! Commercial paper can be divided into bank acceptance bills and commercial acceptance bills. The biggest difference between the two is that the final recipients are different. The acceptor of bank acceptance bill is the bank, while the ultimate acceptor of commercial acceptance bill is the enterprise itself.
When Evergrande developed rapidly, there was no difference between commercial acceptance bills and bank acceptance bills. However, when Evergrande has cash flow problems and Evergrande's commercial acceptance bills cannot be cashed on schedule, the value of these commercial bills will be greatly reduced.
In other words, now suppliers just want to discount commercial acceptance bills, and banks and even sticker companies will not recognize them! Even if some ticket-posting intermediary companies dare to accept it, the ticket-posting fee will be outrageous.
It is no exaggeration to say that Evergrande's commercial draft is 60% off, and I'm afraid no one dares to accept it easily!
Moreover, according to Article 61 of the Negotiable Instruments Law, as long as the commercial bill is supported by real business, when the bill is refused to be accepted, the holder can claim compensation from any prior party. Moreover, any endorser of commercial paper shall be liable for compensation of commercial paper 100%.
Although everyone can make money together, once there is a problem, business partners will become enemies. Moreover, once the commercial ticket cannot be cashed, every company participating in the commercial ticket may face the problem of being sued. For such a problem, think about it!