Bank acceptance bill discount: bank acceptance bill discount is a kind of financing way that the applicant of bank acceptance bill discount transfers the undue bank acceptance bill to Jiutai Rural Commercial Bank due to funds demand. After deducting the discount interest according to the face amount, the bank shall pay the remaining sum to the bearer.

Serving object:

The legally registered business entities, other economic organizations and individual businesses that have short-term financing demand and have true commodity or service transactions with the bill’s immediate remote holder.

Advantages of product:

To open up new financing channels, to lower the cost of financing and financial expense;

To reduce notes receivable and increase cash flow;

To improve funds turnover speed and the efficiency of funds.

Application requirements:

1. Business entities, other economic organizations registered with industrial and commercial administrative department (or competitive authorizations ), having opened basic or general settlement account with Jiutai Rural Commercial Bank;

2. Have true and legal commodity or service transactions with the drawer of the bill ( or immediate remote holder).

3. Holder of undue but intact back acceptance bill.

Term of discount:

The term of discount of bank acceptance bill shall be from the date of discount to the due date of the bill, the longest shall be no longer than 6 months.

Operation instruction:

Client application - client apply to Jiutai Rural Commercial Bank, by providing the discounting material.

Discount investigation - the financing service center of Jiutai Rural Commercial Bank shall investigate and verify the discounting material of the bank acceptance bill provided by the client.

Discounting procedure - after approval by Jiutai Rural Commercial Bank, the debtor and creditor shall sign a business contract to go through the formalities of discount.

Withdrawal of discount - when the bank acceptance bill is due, Jiutai Rural Commercial Bank shall prompt the payer to pay in an entrusted collection way.