Money order cashier check

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					Money order cashier check

First, the concept of

    The so-called "draft" refers to the drawer issued by a payer
in sight, or in a specified date determined by the amount of unconditional payment to
the payee or holder. Drafts include bank drafts and commercial bills of exchange,
commercial bill acceptor in its different, is divided into bank acceptance and
commercial         acceptance      bills.     Under       the     "Negotiable
Instruments" requirement, the concept of money orders generally include
five aspects: 1, bills of exchange issued by the drawer; 2, has commissioned a certain
amount of pay; 3, the par value of the payment should be unconditional a; 4, to
determine the amount of the payment due date; 5, the par value is paid to the payee or
bearer. There are three basic parties to draft: 1 drawer, that is, the person issuing the
Notes; 2, payer, that is commissioned and unconditional acceptance of the drawer pay
the amount of people; 3, the payee, that is, money orders and holding request to the
payer payment. The basic party remittances, is the issue in the bill to the existence of
the parties, bills of exchange relations, they are indispensable.
The so-called promissory note is issued by the drawer, promising to meet
unconditionally pay the fixed amount to the payee or holder. Here called
"promissory note" refers only to cashier. Promissory notes and
bills of exchange to the basic content has a lot in common, that are expressed in
money; amount is determined; have to unconditionally pay the face amount; payment
period is determined and so on, promissory notes and bills of exchange is most
important The difference is that the promissory note as payment the drawer himself,
that is, the basic party promissory note only two, one drawer, is the payer; the other is
the payee.
The so-called check is issued by the drawer, check deposit bank or other financial
institutions see unconditionally pay the fixed amount to the payee or holder. Checks
and money orders compared to the difference between the two in the following two
aspects: one, check the drawer to the bank depositors, and the votes have full deposit
accounts, issuing bad check, and be subject to administrative punishment should be
investigated for criminal responsibility seriously, the payer must be the statutory
financial institutions such as banks; 2, check payment only payable at sight, does not
require regular payment date, so check there are three basic parties : firstly, the drawer,
that is the depositary bank deposits corresponding notes were issued; second payer,
that is, banks and other financial institutions, statutory; third recipient, or to accept

Second, the same point
(1) of the same nature.
(1) The securities are set right. With notes on the notes recorded in the holder the right
content, to prove their bills in order to obtain property rights.
(2) are formatted securities. Paper format (the form and recorded items) are by law (ie
Law of Negotiable Instruments) stringent requirements, failure to comply with the
format of the instrument's effectiveness to a certain extent.
(3) are written securities. Content of the right notes, and bills related to the Notes on
all matters are subject to recorded text, without notes effect on matters beyond the
(4) are the transfer of securities in circulation. General obligations of the contract
claims, to be transferred, it must obtain the consent of the debtor. As negotiable
securities of the instrument. Can not make an endorsement after endorsement or
delivered only to the summary notes and free transfer and circulation.
(5) are not a result of securities. Notes on the existence of a right that is only the
instrument itself, according to the text on the established rights of people to enjoy the
right notes as necessary only to holders of Notes, as to the reasons for rights holders
to obtain notes, bills can not occur because the right to ask. The existence of these
reasons, effective or not, in principle, independently of each other with the right notes.
As our current paper is not entirely the sense of instruments Negotiable Instruments
Law. Only way of clearing banks, which without cause is not absolute.
(2) has the same function of instruments.
(1) exchange function. With notes of this function, to solve the cash payment between
the two obstacles in space.
(2) credit function. Note the use of cash can be solved in time barriers. Notes is not a
commodity, it is built on the basis of a written credit payment instruments.
(3) the payment function. Note the use of cash in the process can solve the trouble.
Notes transferred by endorsement as many times in the market into a flow of payment,
reducing the use of cash. As the clearing system and the development of instruments
can be concentrated through the central clearing house clearing and settlement
procedures simplified, accelerated cash flow, increase efficiency in the use of social
Third, differences
(1) The promissory note is the agreement (contract I paid) securities; bill is
commissioned (commissioned payment) securities; check is pay for the securities
commission, but the trustees only banks or other legal financial institutions.
(2) China's paper on the use of regional distinction. Promissory notes only
for the same city-wide supply of goods and services transactions and other payment
clearing; check clearing house for the same city or region; bill in the same city and the
remote can be used.
(3) different payment terms. Cashier period of 1 month, overdue payment bank
inadmissible; my bill must be accepted, therefore, acceptance expires, the holder can
only payment. Invoice payment due date insufficient account of the holder, its
commercial acceptance bills Bank should be returned to the payee or endorsee, by
itself. Bank acceptance of payment due date, due date has passed, but acceptance does
not require the holder to cash in how to deal with, "Bank settlement
approach" does not require, the specialized banks have made some
additional requirements on their own. Such as the China Industrial and Commercial
Bank of China provides more than 1 month acceptance maturity holder does not
require payment, and acceptance is invalid. Check period of 5 days (endorsement of
the transfer region note of transfer payments for 10 days. Counting from the day
issued, expiration date extended holiday case of practice).
(4) money orders and checks, there are three basic parties, namely, drawer, drawee,
payee; the promissory note only the drawer (the payer and the drawer for the same
person) and the recipient of two basic parties .
(5) checks the drawer and the payee must have a financial relationship between the
order checks; The drawer and payee relationship between the funds without prior;
cashier's drawer and payment man the same person, there is no relationship
between the so-called funds.
(6) checks and promissory notes of the principal debtor is the drawer, while the draft
of the principal debtor, before the acceptance is the drawer, after the acceptance is the
(7) need for long-term bill acceptance, check acceptance is usually immediate need,
promissory notes need not accepted.
(8) The drawer guarantee acceptance of payment, if another acceptor, guaranteed
payment by the acceptor; check drawer security check; cashier's drawer
own payment obligations.
(9) checks, promissory notes holders only have recourse against the drawer, while the
bill holders of Notes within the validity of the drawer, endorser, acceptor have
(10) have copies of bills of exchange, and promissory notes, checks were not.

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