Bank Bills and Bill of Exchange Payment Requests: Payment Program
In France, Spain and Italy, the following bill of exchange receivable procedures are used:
You can issue the bill of exchange and submit it to a bank for discounting without it having been accepted by the customer. This procedure is used if such an agreement was made with the customer.
You issue the bill of exchange and send it to the customer for acceptance. Only once the customer has accepted the bill of exchange do you post it.
The payment program can create both these types of bills of exchange.
Both bank bills and bill of exchange payment requests enable customers to gain a longer payment period. The due date is generally fixed later than for standard invoices. The customer pays the receivable by bill of exchange far in advance of the due date for payment. With this procedure, the due date of the bill of exchange is equal to the invoice due date. You receive your money earlier since you can discount the bill of exchange immediately. Any bank charges incurred thereby are payable by you.