What is an acceptance bill? Briefly explain it.

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The so-called acceptance, simply put, is a promise to pay. It is a sign by the payee on the bill of exchange that he promises to bear the payment obligation when the bill of exchange expires in the future. kind of behavior. Acceptance only occurs in activities related to forward bills.

Basic process: The drawer issues a bill of exchange and delivers it to the payee. The payee requests payment from the payee recorded on the bill of exchange. The payee shall bear the payment obligation, and the bank will charge a certain handling fee. This is because there is a financial relationship between the payer and the drawer before the bill is issued. The drawer has a certain amount of money with the payee, or the payee has a debt to the drawer. Therefore, the drawer entrusts the payer with payment. In order to make the payee ready for payment, the holder of the bill must present the bill to the payer for acceptance before the date on which the bill of exchange is presented to the bank for acceptance, and the payee must express his intention. Once the payee accepts the payment, the payee becomes the acceptor and has an unconditional obligation to pay. On the contrary, if the payee does not agree to accept the bill and does not sign the bill, then there will be no liability for the bill. If the payer does not agree to accept, he does not bear liability to the payee, but only violates the agreed obligation to the drawer. This constitutes a breach of contract and thus bears breach of contract liability to the drawer, not the bill liability. Since the payee does not agree to accept the payment, the payee cannot require the payee to bear responsibility and can only exercise the right of recourse against its predecessor. Note: The acceptance of bills of exchange is only applicable to bills of exchange that are payable on a fixed date, regularly paid after the issuance of the bill, and regularly paid after sight. A bill payable on sight does not require presentation for acceptance, and there is no acceptance. At the same time, if the drawer and the payee are the same person, there is no need to accept the bill.