The Transfer discounting of commercial bills includes the outright purchase of commercial bills and the outright sale of commercial bills. The outright purchase of commercial bills refers to a transaction where the Bills Department buys the undue commercial bills for which the other financial institution (the transferor) has handled the discounting formalities in compliance with the pertinent regulations and the Bills Department is responsible for collection of the bill fund upon the maturity.
The outright sale of commercial bills refers to a transaction where the Bills Department transfers the undue commercial bills for which it has handled the discounting formalities in compliance with the pertinent regulations to the other financial institution (the "transferee") and the transferee is responsible for collection of the bill fund upon the maturity.
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