Definition

A bill of exchange is an unconditional order in writing. Addressed by one person (the drawer) to another (the drawee), signed by the person giving it, requiring the person to whom it is addressed (the drawee, who when he signs becomes the acceptor) to pay on demand, or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bearer (the payee).

流程圖

Acts of a bill of exchange (匯票行為)

1. Issuance (出票)
2. Endorsement (背書)
3. Presentment (提示)
4. Acceptance (承兌)
5. Payment (付款)
6. Dishonor (退票)
7. Notice of dishonor (退票通知)
8. Protest (作成拒絕證書)
   • 不獲承兌而遭到退票
   • Right of recourse (追索權)
9. Acceptance for honor (參加承兌)
10. Payment for honor (參加付款)
11. Guarantee (保證)
12. Discounting (貼現)

流程圖

Negotiation of a draft (instrument)

出票人-> 售票人（付款人）-> 收款人

• 遠期
  • 見票即付 承兌
  • 非見票即付 承兌
• 非遠期：即付

Endorsement (背書)

1. Blank endorsement
2. Special endorsement
3. Restrictive endorsement
4. Conditional endorsement

• Specimen
  • Jack Smith ①
  • Pay David Horn, Jack Smith ②
  • Pay David Horn, not transferable, Jack Smith ③-1
  • Pay ××× Bank for collection of the bill, ~~ ③-2
  • Pay David Horn after the goods arrive, Jack Smith ④

Dishonor (退票)

• notice of dishonor
• protest 拒絕證書
  PS:
• 公證機構 notary
• 錄證 noting

Acceptance (承兌)

匯票承兌后，承兌人代替出票人成為主債務人

1. general acceptance 一般承兌
2. qualified acceptance 條件承兌
   • 有條件，可視為退票
   • local acceptance
   • acceptance as to time
   • partial acceptance
   • conditional acceptance

追索權：遭到拒絕承兌后，可向前手進行追索，前手向前前手追索（亦可一次性向所有前手進行追索，若此時跳過某一前手，而其應收未收，其可以免除自己的責任）
resource —— FaceValue + Interest + cost / expense

Example of general

• acceptance: Accepted (承兌字樣)
• Jack Smith (承兌人簽章)
• Sep. 20，2007 (承兌日期)

Example of qualified acceptance :

• Accepted to pay at ××× ／on ×××另行指定付款地點或時間
• Accepted to pay ×% of the face value 僅承兌部分付款
• Accepted to pay provided … … 有條件付款

Classification of foreign bill of exchange

1. According to drawer:
   • Banker’s draft / bank draft
   • Trader’s bill / trade bill
2. According to the acceptor: 區(qū)別于(1)
   • Trader’s acceptance bill
   • Banker’s acceptance bill
3. According to the tenor:
   • Sight bill
   • Term bill, time bill, tenor bill or usance bill
4. According to whether commercial documents are attached thereto:
   • Clean bill 光票
   • Documentary bill 跟單匯票