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Electronic Commercial Draft
About the product
An electronic commercial draft (ECD) is issued to ensure that a payer unconditionally pays a specified amount to the payee or draft holder on a specified date. Equivalent to a paper commercial draft, the full cycle of an ECD is: issue, record, circulate and process. ECDs can be divided into electronic bank acceptance drafts and electronic commercial acceptance drafts.  

Advantages of the CMB ECD system
Extensive experience in electronic note services
1. CMB began providing electronic note services in 2005, earlier than its peers;
2. As an industry pioneer, CMB has already streamlined its internal business processes to boost business-processing capabilities.
3. CMB continues to guide the development of electronic note services; for example, CMB was the first Chinese bank to provide note pool services;
4. Since 2008, CMB has conducted ECDS research, helped draft standards, trialed ECDS operations, and conducted testing and simulated operations.

Mature electronic system
CMB’s mature e-system optimizes business operations and service efficiency.

Secure and reliable
1. Joint testing has demonstrated the reliability and security of the system; 
2. PBC approved the system’s simulated test;
3. PBC approved the system’s acceptance test;
4. CMB became one of the 18 financial institutions to launch the PBC electronic commercial draft system on October 28, 2009. On the first day of operations, CMB issued the most bank and commercial drafts and discounts. 

Reliable and convenient online corporate banking client
1. CMB’s online corporate banking client is proven to be stable and user-friendly.
2. The client’s user-friendly service interface is designed to improve efficiency for corporate users. 
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.