Recently, the People’s Bank of China issued Announcement No. 19 [2020] to clarify matters related to the disclosure of commercial acceptance bill information; the acceptor shall disclose acceptance credit information within the first 10 days of each month, including the cumulative acceptance amount, acceptance balance, and cumulative acceptance credit information. Overdue amount, overdue balance, etc.
The announcement requires that the acceptor is responsible for the authenticity, accuracy, timeliness and completeness of the disclosed information.
This announcement will come into effect on August 1, 2021. Information disclosure on acceptance bills of financial companies shall be implemented with reference to this announcement.
Announcement No. 19 [2020] of the People’s Bank of China
In order to strengthen the construction of the commercial acceptance bill credit system and improve the market-oriented restraint mechanism To protect the legitimate rights and interests of the bearer, the relevant matters regarding the disclosure of commercial acceptance bill information are hereby announced as follows:
1. The acceptor shall disclose each information within 1 working day after the acceptance is completed. Information related to the acceptance of a bill, including the date of issuance, date of acceptance, bill number, name of the drawer, name of the acceptor, social credit code of the acceptor, face amount, bill maturity date, etc.
2. The acceptor shall disclose acceptance credit information within the first 10 days of each month, including the cumulative acceptance amount, acceptance balance, cumulative overdue amount, overdue balance, etc.
3. The acceptor is responsible for the authenticity, accuracy, timeliness and completeness of the disclosed information.
4. Before signing for commercial acceptance bills, enterprises can query bill acceptance information through the bill information disclosure platform recognized by the People’s Bank of China (hereinafter referred to as the bill information disclosure platform) to strengthen risk identification and Be on guard.
5. Before handling the discounting, pledge, guarantee and other services of commercial acceptance bills, financial institutions should query the bill acceptance information through the bill information disclosure platform. The bill acceptance information does not exist or is recorded on the face of the bill. If the matter is inconsistent with the information disclosed by the acceptor, financial institutions shall not handle bill discounting, pledge, guarantee and other businesses.
6. If the acceptor discloses information in a timely and accurate manner and the accepted bills have no overdue records, the financial institution may give priority to the acceptor in handling bank acceptance business and give priority to the acceptor’s accepted bills. Handle discount business. If the information disclosed by the acceptor is delayed or false or the accepted bills continue to be overdue, financial institutions shall prudently handle bank acceptance business for the acceptor and prudently handle discounts, pledges, guarantees and other businesses for the bills accepted by the acceptor.
7. The acceptor can disclose other credit information through the bill information disclosure platform. If an acceptor defaults in the bond market, it can disclose the bond default through the bill information disclosure platform.
8. The bill market infrastructure should provide necessary technical support to assist the acceptor in disclosing relevant information in a timely and efficient manner, and strengthen monitoring to ensure that the acceptor delays in disclosing information and accepts bills. Reminders will be issued if the payment is continuously overdue and the disclosed information is inconsistent with the information recorded in the electronic commercial draft system. If enterprises or financial institutions discover any abnormalities such as counterfeit commercial acceptance bills or false acceptances, they shall promptly notify the bill market infrastructure.
9. Bill market infrastructure In accordance with this announcement and the relevant requirements of the People’s Bank of China, we will formulate detailed operating rules for commercial acceptance bill information disclosure, report them to the People’s Bank of China for filing and implement them, and regularly report to the People’s Bank of China The People’s Bank of China reports on information disclosure on commercial acceptance bills.
10. This announcement will come into effect on August 1, 2021. Information disclosure on acceptance bills of financial companies shall be implemented with reference to this announcement. </p
