Bills Businesses
(I) Acceptance business
Draft acceptance refers to the behavior of SFC who, as the drawee, promises to pay the draft amount to the payee or note bearer on the due date of draft based on the application of member companies.
Features
- · Simple and convenient formalities and convenient operation;
- · Reducing the capital occupation of member companies and lowering financial expenses;
- · Low handling charge and no requirements for deposit.
(II) Discounting businesses
It refers to the business that member companies, as the discounting applicants, transfer undue commercial drafts to SFC via endorsement, and SFC pays for the drafts after collecting discount interest based on the agreed interest rate. It mainly covers such varieties as discounting with interest paid by the note bearers, discounting with interest paid by the buyers and discounting with agreed interest.
Features
- · Revitalization of the note assets of member companies and increase in the operational cash flow;
- · Reduction in the financial cost of member companies and realization of low-cost financing.