The payee on the bill must be held liable after acceptance.

A bill of exchange refers to a bill in which the holder pays a certain amount to the drawer or the payee designated by him within a certain period of time. A bill of exchange is a bearer instrument issued by the drawer and addressed to the payee. The holder can transfer it to a third party. A bill of exchange is a legal instrument with payment guarantee, also known as "exchange bill". It is mainly used in the fields of international trade and cross-border settlement.

Types of bills of exchange

1. Credit bills: Credit bills are bills of exchange in which the bank assumes payment responsibility on behalf of the drawer. It is mainly used in the field of international trade and has the advantage of high security. , strong convenience.

2. Check draft: A check draft is a draft issued by a bank and guaranteed to be paid, and the payment responsibility is borne by the bank. This kind of bill of exchange is usually used for international settlement or external payment.

3. Commercial draft: A commercial draft is a draft issued by a commercial institution or individual. It is usually used for settlement between enterprises in domestic trade.

Function of money order

1. Payment method: Money order is a convenient payment method that can replace cash or check for transaction settlement. It has payment guarantee and acceptance guarantee, which can improve the trust of both parties to the transaction and the security of payment.

2. Financing tools: Bills of exchange can be used as a short-term financing tool to help companies solve short-term capital turnover problems and improve capital utilization efficiency.

3. Investment varieties: Money orders can also be used as an investment type. The holder can exchange cash with the bank at the face value of the money order on the maturity date and obtain a certain return on investment.