Which discount days from the discount date to the maturity date of the bill of exchange, according to the actual number of days, counting the head and not counting the end of the bill of exchange of the different places to add three days.
For example: Received a banker's acceptance of $455,421 on the date of issue 2010-8-11. The maturity date of the bill of exchange 2011-2-13. interest rate of 3.65% per annum, 2010-8-16 I would like to post interest on the bill of exchange, how do I calculate the amount of money to be posted interest?
455421*3.65%*181/360=8357.61 Yuan
Daily Discount Rate=Monthly Discount Rate ÷ 30 or Yearly Discount Rate ÷ 360
Actual Payment Amount=Face Amount-Discounted Interest
Wherever the acceptor is located in a foreign country, the period of discounting, rediscounting and rediscounting, as well as the calculation of the discounted interest, should be added to another 3 days for the transfer of funds.
Method of payment of discount interest:
In order to ensure that the buyer can pay the discount interest in time and in full, the payment of discount interest shall be clarified by means of the buyer providing a letter of commitment or signing a tripartite agreement.
1, the buyer to provide commitment letter. By the buyer will buyer interest-bearing notes interest payment commitment letter and the commercial draft to be paid by a copy of its interest to the buyer's bank. The buyer's bank account only for the commercial bills of exchange declared in the commitment letter for the buyer to pay interest.
2. The buyer, the seller and the discounting bank sign the Tripartite Agreement on Discounting of Buyer's Interest Paying Bills.
The specific transfer of discount interest:
There are three ways to deal with the discount interest payable by the buyer: first, the full amount of discount interest payable is deposited in the buyer's interest payment deposit account; second, on the discount date, the discount interest has been determined to be transferred to the bank's designated account; and third, the discount interest payable on the approved credit line.
Under the approved credit line, the buyer's account bank calculates the discount interest payable by the buyer according to the total amount of the bill of exchange specified in the interest payment commitment letter and reports it to the bank for credit approval. After the approval, the original interest payment commitment letter and a copy of the promissory note will be handed over to a special person for safekeeping in case of inquiry by the discounting bank; if the approval fails, the above materials will be returned to the buyer. When the discounting bank deducts the discounted interest, if the buyer's designated account has insufficient funds, the buyer's bank account will pay the discounted interest on behalf of the buyer, and will be accounted for and managed as an overdue loan.
The bank will decide whether to accept the business after reviewing the creditworthiness of the buyer and the seller and whether there is a real trade background, as well as examining the authenticity and validity of the commercial bills of exchange. Commercial bills of exchange under this business can be endorsed and transferred for rediscounting and rediscounting.
By reading the above content, we know that the formula for calculating discount interest involves the discounted amount, the number of days of discounting, the daily discount rate of three values, I remind you to pay attention to the correct substitution of values in the use of public calculations in order to prevent errors. If you have other legal issues you want to know, you may want to log in to find the law network free online consultation.