Specimen Bill Drawn In Foreign Country

Specimen Bill Drawn in a Foreign Country

Bank Acceptance - Specimen Bill Drawn in Foreign Country

This form differs from form No. 11 only in that the drawer is domiciled in a foreign country instead of in the United States. This form of bank acceptance arises also from an agreement between the bank and the purchaser, whereby the bank agrees to accept drafts drawn upon it up to a stipulated amount, by the shippers of good abroad

Generally, the purchasers agree to supply the bank with funds with which to meet the draft at maturity.

Forms of Certificates Used to Indicate Eligibility of Bankers' Accpt-ances for Rediscount with the Federal Reserve Banks

Export Or Import Bill

This acceptance is based upon a transaction involving the exportation or the importation of merchandise.

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Name of Acceptor.

Domestic Shipment Bill

At the time of acceptance, this bill was secured by shipping documents evidencing the domestic shipment of goods against which it was drawn.

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Name of Acceptor.

Warehouse Bill

At the time of acceptance, this bill was secured by documents conveying or securing title, covering readily marketable staples stored in the United States.

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Name of Acceptor.

The above forms are employed and illustrated in the three following bank acceptances.

Forms of certificates to be affixed by rubber stamps or in typewriting by a State bank, banker, or a trust company, for the purpose of showing that an acceptance is eligible for rediscount with the Federal Reserve Banks. These forms are employed and illustrated in the three bank acceptances following.

Specimen of Bank Acceptance Arising out of a Transaction Involving the Exportation or Importation of Goods

The form of certificate to the left is one of the three given in No. 13, and is here shown as it would appear on a bank acceptance. Under the Federal Reserve Act, an acceptance to be eligible for rediscount, must arise out of a transaction involving the exportation or importation of goods, a domestic shipment bill, or a warehouse receipt This draft falls within the first class of acceptances eligible for rediscount with the Federal Reserve Banks.