From different perspectives, bills of exchange can be divided into different types.
(1) According to the different drawers, bills of exchange are divided into bank bills and commercial bills.
①Banker’s Drat refers to a bill whose drawer is a bank and the payee is also a bank.
②Commercial Drat refers to a bill whose drawer is a business or an individual and the payee can be a business, an individual, or a bank.
(2) According to whether there are commercial documents attached, bills of exchange can be divided into clean bills and documentary bills.
①Clean Bill refers to a bill without commercial documents. Most bank bills are clean bills.
②Documentary Bill refers to a bill with commercial documents attached. Commercial bills are generally documentary bills.
(3) According to the different payment time, bills of exchange are divided into sight bills and time bills.
① Sight Draft refers to a bill payable immediately upon presentation or sight.
② Time Bill or Usance Bill refers to a bill payable within a certain period or on a specific date.
The payment time of time bills is as follows:
——Payment several days after sight (At xx days after sight);
——Payment several days after issue (At xx days after date);
——Payment several days after the bill of lading is issued (At xx days after date of Bill of Lading);
——Payment on a specified date (Fixed date).
A bill of exchange can often have several properties at the same time. For example, a commercial bill can also be a sight documentary bill; a time commercial documentary bill can also be a bank acceptance bill.