Legal Regulation Of Bill Discounting

The discounted bill system emerged with the emergence of bills,and the emergence of bills is the crystallization of the continuous development of financial markets.It can be seen that the rapid development of financial markets is an important market background for the discounting of this system.Throughout the world,the trading systems of its bills have undergone a process of continuous development.In countries with a relatively advanced western bill system,the bill discounting system has been greatly improved.China's bill system has also undergone a process of continuous improvement and continuous development.However,in some aspects of the bill discounting system,there are still many problems that need to be solved.For example: First,China's relevant legal system for discounted bills needs to be updated.Today,the "Notes Act","Interim Measures for the Administration of Commercial Bills Acceptance,Discounting and Rediscounting"(hereinafter referred to as "Interim Measures"),"General Terms of Loans" and some judicial interpretations are common laws and regulations governing the discounting of bills in China.Among them,the "Notes Law" was only revised once in 2004;the "Interim Measures" was implemented in May 1997 and has not been revised;the "General Terms of Loans" promulgated in August 1996 still applies to the discounted bill business.It is precisely because of the imperfect laws in China's bill law that the law's lag is particularly obvious,which is also an important reason hindering the discounting of bills and the development of the bill market.Second,with the emergence of social phenomena such as the financing difficulties of SMEs,the private bill discounting business has gradually begun to develop and has formed a certain scale.This brings opportunities to the bill discounting business and brings many inherent hidden dangers.Due to the absence of relevant laws,it is difficult for the judiciary to find a law that can be directly applied when dealing with bill disputes,and then there is a phenomenon of different judgments in the same case.In the current bill discounting business in China,bank acceptance bills are the main source of bill discounting,and commercial acceptance bills account for a small proportion.In dealing with this business,the "Notes Act" requires that the source of the bill is very strict,requiring the discounted applicant to provide relevant information such as the real trading background.The discounter needs to review the source of the bill.If the discounted person has intentional or gross negligence,In turn,if the bills without real trading background are discounted,the discounted person will be responsible.It can be seen that the bank's rights and obligations are not equal to the bill discounting business.While the obligation is greater than the right,it also increases the business risk of the bank discounting the bill.Third,on the basic attributes of the bill,China adopted the principle of the nature of the bill and did not adopt the principle of non-conformity of the bill.This is also an important reason for the very slow development of China's financing bills.The originality of the adoption of the bill was in line with the background of the times and was an important means of stabilizing the bill market at that time.In view of the changes in the current era,the adoption of bills is the rootless wood and the passive water.Compared with other civil and commercial principles,bill discounting should be divided into technical norms,and the bill business can be operated according to the established laws and regulations.In the scope of the whole world,the underdevelopment of the technical norms of China's bills directly leads to problems in international exchanges.Moreover,China is not an Anglo-American legal system,nor is it involved in the unified law of Japan and Japan.It is difficult to perfect the bill system in the world.The country is in line.It can be seen that if we want to continue to develop the financial market and thoroughly solve the problem of "cohesion" of "technical norms," we should immediately amend the "Law Law" and other relevant laws to formulate China's unique "technical norms."...