What is bill trading? What are the modes of bill trading?

Bill transaction refers to a transaction based on a written debt bill with a certain format and held by the holder within a certain period of time. Generally speaking, a certain amount must be written on this debt note, which can be drawn from the drawer or the designated payer.

Its main functions are as follows:

1, credit function. Bill is a written creditor's right certificate based on credit. As a credit tool, it acts as a financing tool between capital surplus units and capital shortage units, and promotes the synchronous financing activities based on commodity trading.

2. Settlement function. The circulation of bill media goods enables the exchange to be carried out quickly, conveniently, safely and standardly. It can be used as a payment tool to settle creditor's rights and debts.

3. Cycle function. Bill can be transferred to others after endorsement, so it can be widely circulated in the market as a means of paying off debts and creditor's rights to save cash.

Reply time: 2021-11-29. Please refer to the latest business changes announced by Ping An Bank in official website.