The Amendment Of The "Bank-centered" Instrument System

The "bank-centered" instrument system was formed at the beginning of the the Law of Negotiable Instruments was enacted,it has had a profound impact on the construction of the legal relationship and rules of instruments in China.This paper attempts to discuss the revision of the "bank-centered" instrument system through four parts:clarify the status of the bank,put forward the existing problems,analyze the necessity of revision and propose the specific system design,providing theoretical and practical support.The first part of the paper starts with the status of the bank and the reason why for such a provision.First of all,starting from the perspective of the type of instruments,the existing bank bills,bank drafts,promissory notes and checks,accounting for the vast majority of bills,and they are all bank notes.Secondly,from the business processes of bills,banks occupy the dominant position in ticket-related bills,acceptance,payment,etc.It is connected to the hub of bills related parties.Finally,bank credit occupied the absolute central position instead of commercial credit.This is the practice of China's planned economy period,based on the fact that the commercial credit is not perfect and the national instrument market system has not yet formed.The second part analyzes the problems of the "bank-centered" instrument system.The first aspect is the restrictive provision for commercial paper,lacking of accommodative bills and commercial paper in the corresponding provisions of Negotiable Instruments,it has made great restrictions on the eligibility of the drawer.The second aspect is the Negotiable Instruments Law gives the bank a strong market position and management qualification,the paper will dicuss the unreasonable parts through the city settlement,partial payment,instrument limitation,the effectiveness of bank rules,the responsibility of the bank.The third part puts forward the basis for revising the "bank-centered" instrument system,first of all it is based on the requirements of the equality of market subjects,banks began to transform to market players from the quasi-administrative agencies,all kinds of commercial entities have the desire of equal development.Then followed by the need to cultivate the market credit,the socialist market economy has developed by leaps and bounds,so that the credit function of the bill needs to be unleashed.Finally,it is based on the requirements of a sound negotiable instrument,to correct the instrument system moderately has a positive meaning to develop a national bill market system,and build an equal concept of negotiable instruments.The fourth part will propose some suggestions based on the inappropriate regulations of the bank status,this part mainly discusses the development and promotion of commercial credit,the comprehensive recognition of commercial paper;the equality and consistency between banks and the other civil and commercial subjects in the Law of Negotiable Instrument.