What Is a Commercial Draft?
Commercial drafts are issued by the drawer, and the entrusted payer unconditionally pays the specified amount to the payee or the holder of the bill. Commercial bills are divided into commercial acceptance bills and bank acceptance bills. Commercial acceptance bills are accepted by payers other than the bank (the payer is the acceptor), and bank acceptance bills are accepted by the bank. The payment period of a commercial bill of exchange must not exceed 6 months (electronic commercial bills can be extended to one year). 
- Commercial draft:
- The issuers of commercial acceptance bills are legal persons and other organizations that open deposit accounts with banks.
- The issuers of bank acceptance bills are legal persons and other organizations that open deposit accounts with acceptance banks.
- Acceptance of commercial bills: Businesses sign commercial bills. Whether they are commercial acceptance bills or bank acceptance bills, the maturity value is the face value. In accordance with the principle of materiality, bills payable should be the book value based on the amount at which the business occurred, that is, the face value (that is, the maturity value). After the enterprise obtains the settlement voucher and signs the commercial bill of exchange, it shall debit the subjects such as "raw materials" and "taxes payable" based on the face value, and credit the "notes payable" subject. The handling fee of an enterprise applying for acceptance from a bank shall be included in financial expenses. 
- The reminder payment deadline for a commercial bill is 10 days from the due date of the bill. The bearer should pass within the prompt payment period
- For commercial bills, the maximum payment period for paper commercial bills is 6 months, and for electronic commercial bills, the maximum payment period is 1 year.