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Credit Note

Credit note is an instrument that the drawer entrusts SRCB to pay a certain amount of money to the beneficiary. (Only for use in Shanghai)

Items on the note

Items on a credit note must include the following elements. “Credit note” characters, unconditionally payment authorization, definite amount, drawer’s name and account number, beneficiary’s name and account number, account opening bank name of the drawer, account opening bank name of beneficiary, issuing date, drawer’s signature/chop. If any of the above items is missed, the bank will not accept the note.

General rules

Credit notes can only be presented to the account opening bank of the drawer for fund transfer. No cash withdrawal, endorsement or circulation can be made.
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