Bank draft is the instrument written by the bank for unconditional payment of actual settlement amount to beneficiary or the instrument holder upon presentation. The bank that writes the bank draft is the payer of this instrument.

Features

If the instrument holder has a settlement account with SRCB, the bank draft written by SRCB can be accepted on the spot.Bank draft written by SRCB can also be accepted at city commercial banks or ICBC branches in other cities.

Scope of application

When the two parties of the transaction are not sure about the transaction value or have no confidence of the success of transaction, they can choose bank draft. This instrument is used for settlement of various financial activities.