What Is a Method of Payment?

The payment method refers to the specific method adopted by the payer to fulfill the debts of the bill.

payment method

discuss

The payment method refers to the specific method adopted by the payer to fulfill the debts of the bill.

Generally, payment methods are divided into personal payment and agent payment. Transfer payment and cash payment.

Chinese name

payment method

Foreign name

method of payments

Payer classification

Personal payment, agent payment

Payment classification

Transfer payment, cash payment

(1) Personal payment and agent payment

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My payment, or payer's payment, is a payment made directly to the holder by the payer (or the acceptor when it is already accepted) on the bill; the agent's payment is designated by the payer or acceptor Other people (usually a bank) to make payments on behalf of the payer. In the actual bill activity, the direct payment by the payer contained in the bill is only the bank acceptance bill. In this case, the accepting bank fulfills its bill debts as the party on the bill, that is, the debtor of the bill; For bank drafts and commercial acceptance bills, the payer on the bill usually does not bear the payment personally, and the bank as the agent payer, when acting as a bank draft, other banks as agent payers, and when it is a commercial acceptance bill The acceptor's bank is used as the agent's payer. The significance of differentiating between the payer's payment and the agent's payment in the payment is mainly to clarify different legal relationships and confirm the corresponding payment responsibilities and effects. The agent payer is not the party to the bill of exchange, but only the trustee of the payer. Therefore, the agent payer is not responsible for the bill, but for the trustee in the entrusted relationship. However, it should be noted that, in the bill law, the agent payer also has the same review responsibility as the payer when making the payment (Article 57 of the Bill Law); when the holder prompts the agent to pay, The effect of prompt payment also occurs; when the agent payer pays according to law, the effect of bill of exchange payment also occurs; and when the agent payer refuses to pay, the effect of rejection of payment also occurs of course.

(2) Transfer payment and cash payment

In the bill law, there are no special restrictions on whether the bill is to be transferred by money or cash, but on the bank settlement system, there are special restrictions on the method of bill payment. According to the provisions of the settlement method, when a bank draft is required to withdraw cash from the agent payer, the word "cash" must be filled in the "Draft amount" column of the bank draft, and then the amount of the draft must be filled (Article 58 of the "Settlement Methods for Payment" And, to sign a cash bank draft, the applicant and the payee must both be individuals, and the applicant or the payee must not sign a cash bank draft (Article 59 of the "Payment Settlement Measures"). From the provisions of the settlement methods, the usual payment of a bill of exchange should be a transfer payment, and cash payments are allowed only in the special case of the applicant and the payee contained on the bill of exchange.