Companies have the means of payment of their own. The effect of trade is with the documentary credit and documentary collection, one of its specific means of payment.
Among the bills, we must distinguish the bill of exchange and promissory notes.
The promissory note is a document that has the features:
a bill of exchange (with the promise to pay in a given period)
and a check (by the fact that it is the purchaser who agrees to pay, which issues the ticket and hands it to the beneficiary).
In the device of the promissory note, issuers and beneficiaries are reversed from the bill of exchange.
The difference with a check, is that the amount due is sent only to a date agreed by both parties and two of them known.
The promissory note is treated as an admission of debt, then no need to have immediately the amount of money on his bank account, unlike the check.
Once the promissory note delivered to the bank, it supports the same as a transfer, but can not make it happen before the due date.
The maturity date may not exceed three months. The amount due will be paid by the bank at the maturity date.
The promissory note is a payment method not widely used because it is issued by an individual for a third person, and that, under a commercial settlement.
The promissory note is no longer presented as computer paper format but in a form agreed with the bank and tele-transmitted by the parties.
The operation remains the same: one is ordered to pay a defined beneficiary, a specified sum of money and an agreed date.