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Draft acceptance means the draft-related behavior that the Bank, as the acceptor, commits to unconditionally pay the draft amount to the payee or the holder upon the request of the customer.
ii. Features and Advantages
1. Reliable credit guarantee of the bank and wide scope of circulation.
2. Reducing the enterprise's fund utilization and saving the fund use cost.
3. Low financing cost meets the enterprise’s profit orientation.
4. Numerous outlets nationwide, and professional & experienced negotiated instrument business team.
iii. Operation flow
1. The customer submits an application and relevant materials.
2. The Bank examines and approves the application.
3. The customer signs the acceptance and relevant agreements.
4. After the customer completes relevant procedures, the Bank hands over the draft.