How Do I Deposit a Money Order?

Bank acceptance bills are a type of commercial bill of exchange. Refers to a note issued by a depositor who has opened a deposit account with an accepting bank, who applies to the depositing bank and accepts the bank's review and approval to accept it, and guarantees to pay the determined amount unconditionally to the payee or bearer on a specified date. Acceptance of a commercial bill of exchange issued by the drawer is the credit support given by the bank based on the recognition of the credit of the drawer. Bank acceptance bills are sold at a discount. The main investors in bankers' acceptances are money market mutual funds and municipal entities. Its characteristics are: good credit, strong acceptance, high flexibility, and effective savings in capital costs. The use of bank acceptance bills to finance commercial transactions is called acceptance financing. ^[1]

Bank acceptance bill

Bank acceptance bill is

Bank acceptance bills are a type of bill entrusted to the bank by the payer

• In order to improve the anti-counterfeiting performance of bill vouchers and ensure the circulation and safe use of bills, the central bank stipulated that from March 1, 2011, China will fully launch a new version of bank acceptance bills, namely the 2010 version of bank bills.
  

• condition

The bank promises to pay due

Bank acceptance bill endorsement is the main method of transfer of bank acceptance bills, but in actual business, due to various errors in the endorsement process of the operator, endorsement of defective bills will directly affect the holder's bill rights. There are three common endorsement problems.

1. Defective backmark seal According to the relevant provisions of China's "Bill Law", the endorsement of bank acceptance bills needs to be signed and stamped with the company's financial and legal person seals on the back of the bill or the endorser's signature column. In the process of signing, it is easy to have problems such as over-signature, seal opening, and signing out of the frame. To resolve such defects in back bookmarks, relevant certificates must be issued by the defective signing unit.
2. Endorsement Riding and Sealing

The endorsement needs to be signed in the endorsement column on the back of the bill. If the bill voucher cannot meet the needs of the endorser, you can add a sticky note to stick to the bill voucher. The use of sticky notes when endorsing involves the problem of riding stitches. Common defects in endorsement of riding stitches include problems such as the lack of riding stitches on the sticky sheet, and the disconnection of the riding stitches.
3. The endorsement is not the same as the endorsement. The endorsement process is also a serious endorsement error. It mainly refers to the fact that the name of the endorsed person in the endorsement does not match the signature unit of the endorser, which directly affects the bank's acceptance Discount and acceptance.

According to statistics, in addition to the three common problems of inadequate endorsement of the bookmark, endorsement of the riding seal, and inconsistency of the endorsement, there are also endorsements such as decapitation, altered endorsement, and back endorsement. Therefore, bank bill practitioners and corporate finance workers should pay close attention to bank acceptance bill endorsement issues when receiving, using, and transferring bills, and effectively protect their rights.

With the increasing circulation of bank acceptance bills, the problems brought by endorsement transfers and entrusted collections of bank acceptance bills have become more and more serious. Because people do not understand the rules of bank acceptance bills or problems with their seals, it becomes difficult to pay bank acceptance bills. Many bank acceptance bills cannot be paid due to errors in endorsements or entrusted collections. In the end, it can only be resolved through legal means. It can be seen that it is imperative to standardize the solution to the error in endorsement of bank acceptance bills.

Reasons for wrong endorsement of bank acceptance bills

1. Endorsement is not continuous. Endorsement discontinuities are the most common mistake for bank acceptance bills. There are currently two discontinuous ways.

(1) The name does not match the seal. There is nothing in common between the signature of the endorser before and after. For example: A is transferred to B, but the seal of D is stamped at the signing office. B and D are obviously not a unit.

(2) The name of the endorsement is inconsistent with the seal. The front and back endorsement signatures are missing or multiple characters or the seal is unclear. For example, A is transferred to XX Co., Ltd., but the seal part is XX Co., Ltd., and the seal has the word "share". Or A's seal was transferred to B, and B's seal was unclear, making it unrecognizable. In this way, continuity is unrecognizable and affects understanding and payment.

(3) The endorsement of the riding seal is not standardized or is not stamped.

2. The commission payment is wrong.

(1) Multiple entrusted collections. Among the several endorsements manifested as bank acceptance bills, two or more endorsements were marked with "Entrusted Receipt".

(2) The entrusted beneficiary bank does not agree with the entrusted beneficiary bank of the settlement voucher. The specific performance is that the bank accepts the commission of XX Agricultural Bank, while the settlement voucher is covered by the settlement chapter of XX ICBC.

(3) The entrustment receipt is not filled in correctly. The specific manifestation is that the name of the payer is incorrectly filled in, and that of the payee and the account bank are not standardized.

3. Endorsement transfer to individuals.

According to Article 74 of Chapter II of the "Measures for Payment and Settlement", legal entities and other organizations that open deposit accounts with banks must have a true transaction relationship or debt and debt relationship in order to use commercial bills of exchange. The above clauses legally stipulate that bank acceptance bills cannot be transferred to individuals.

4. Endorsement is repeated.

Endorsement is the endorsement of the same company twice on the bill.

According to the rules for determining endorsement continuity: whether the endorsement records are formally valid, whether the order of endorsement records is continuous, whether consecutive endorsers have the same identity, etc. In this defect example, repeating endorsements made by endorsers is completely Meet the above three judgment conditions. It can be considered that these two endorsed bills are continuous. Therefore, the repeated endorsement does not affect the continuity of the endorsement, and legally does not affect the holder's normal right to obtain the bill.

As the accepting bank, we have received the entrusted receipts and bills of exchange from the holder's bank to exclude the possibility of fake bank acceptance bills. The main examinations are:

(1) Whether the endorsement of the entrusted collection is made, whether the endorsement of the transfer bill is endorsed continuously, whether the signature is in compliance with the regulations, and whether the endorsement uses a sticky note in accordance with the regulations.

(2) Whether the items recorded in the entrusted receipts are consistent with those recorded in the bill of exchange. However, errors in endorsement of bank acceptance bills directly led to the insolvency of acceptances. Discuss the following solutions with readers in accordance with the "Bill Law of the People's Republic of China", "Implementation Measures for Bill Management", "Measures for Payment Settlement", "Payment Settlement Accounting Procedures" and related laws:

1. Endorsement is not continuous. According to Article 33 of the Bills Law: "Bills that are transferred by endorsement shall be endorsed continuously. The holder shall prove the rights of the bills by the continuity of endorsement. Those who obtain the bills by other legal means without endorsement transfer shall be in accordance with law. Prove evidence to prove its bill rights. "It can be seen that when the name is completely inconsistent with the seal, the legality can be proved by legal form to ensure its continuity, and the accepting bank should also release it. The specific performance is as follows: Company A endorses to Company B, but the back cover is the seal of Company C. The endorsement is obviously discontinuous. Through the written certifications of the three companies A, B, and C, the fact is: Company A endorsed it to Company B, and Company B was transferred to Company C, but when Company B was transferred to Company C, it was originally stamped by its own company Without the seal, the company C manager did not understand the endorsement of the acceptance bill, so the above error occurred. Through the above clauses, Company A issued a certificate of endorsement to Company B, and Company B issued a certificate of endorsement to Company C. In this way, by proving evidence in accordance with the law, Company C's billing rights were proved, and the accepting bank should provide the settlement with sufficient evidence. Other endorsement errors, and so on. If the above proofs cannot be met, the right of recourse can be exercised in accordance with the law, requiring the acceptance of a draft exchange or refund.

2. The commission payment is wrong. If the entrusted beneficiary bank does not agree with the entrusted beneficiary bank of the settlement voucher and the entrusted beneficiary voucher is incorrectly filled in, the settlement voucher may be wrong, which can explain the situation and re-fill the correct voucher, and the accepting bank should release the payment. However, when there are multiple endorsements of entrusted collections due to the lack of understanding of bank acceptance bill endorsements, one by one is required to legally obtain the continuity of the previous endorsement of the endorsement of the acceptance bills, so as to prove according to law, the accepting bank should also provide the settlement. .

3. Endorsement transfer to personal error. Because bank acceptance bills do not allow endorsements to be transferred to individuals, when an endorsement appears in the bank acceptance bills as an individual, there are two solutions: First, the holder can exercise the right of recourse and return it to the former. By analogy, until the drawer is recoursed, asking them to replace the bill or refund it; second, the individual's predecessor reached an agreement with the individual backhand to prove that the endorsement is invalid through a written certificate, and then the individual's former unit entrusted the bank Collection.

4. Endorsement is repeated.

Repeated endorsement is, after all, an accident in endorsement, and the People's Bank of China does not have explicit regulations to recognize this form of endorsement. Therefore, in order to recover the ticket money in a timely, safe and secure manner, it is recommended that the recipient of the note should require the endorser to repeatedly issue a certificate or commitment when encountering such a note, or obtain prior communication and approval with the accepting bank.