Check

·	Clients may use cash checks and account checks in line with the "Commercial Instrument Law" and ordinance by the central bank on settlement. The open checks in use now in Shenzhen Region are accepted for either encashment or transfer of account. However, a crossed check, which is a check bearing two parallel lines on its upper left corner, is only acceptable for transfer of account. Institutions and individuals are allowed to use checks for their respective settlements within the same bill clearance region.
·	All checks are notes to order, endorsable to others.
·	A check's period of presentation for payment is 10 days (as of the day when the check is issued, postponed to the next working day in case the due day happens to fall on a public holiday).
·	The date of issuance, value indicated in numbers and in letters, and the name of beneficiary are subjected to no alteration; mistakes in other contents are correctable by crossing out and rewriting; all corrections need to marked by one of the specimen stamps whose prints have been left to the bank.
·	One should report a lost check to the paying bank, but the bank will not honor the request in case the lost check is already cashed prior to the report of loss.
·	For any dud checks singed by the issuer, checks bearing stamp prints not identical with any of the specimen prints left to the bank by the issuer, checks payable by password bearing mistaken passwords, the bank, in addition to dishonoring the aforementioned checks, will impose a fine of RMB1,000 yuan or 5 percent of the check's face value, whichever is higher.

Banker's Order

·	A banker' order is signed by a bank, promising to unconditionally pay at the sight of the check a definite amount of proceeds to the beneficiary or the bearer. Institutions and individuals are allowed to use banker' orders for their respective settlements within the same bill clearance region.
·	A banker's order issued by the China Merchants Bank is honored for universal accession of account at any local banks. Report of loss is not applicable to banker's orders with universal accession of account.
·	A banker' order is acceptable for transfer of account, but that marked with "Cash" is accepted for encashment.
·	A banker's order has a period of presentation for payment no longer than 2 months as of the date of issuance.
·	The bank does not honor requests for issuance of cashable banker's order if the applier is an institutional client, or the beneficiary of the banker's order is an institution.
·	A banker's order is endorsable to others, but a banker' order marked with "Cash" is not endorsable.

Bank Draft

·	A bank draft is a note that a bank issues to the remitter upon reception of some fund for the remitter to carry to another city for settlement or encashment. It is applicable as institutions and individuals transfer or maneuver all sorts of funds.
·	A bank draft is acceptable for transfer of account, but that marked with "Cash" is accepted for encashment.
·	The bank does not honor requests for issuance of cashable bank draft if the applier is an institutional client, or the beneficiary of the banker's order is an institution.
·	All bank drafts are notes to order, endorsable to others.
·	A bank draft has a period of presentation for payment no longer than 1 month as of the date of issuance.
·	In case of a lost bank draft that designates no definite payer by proxy, the bank does not honor report of loss or payment countermand, but will help to prevent in a moral way.
·	When an applier requests refund because of an overdue bank draft or other reasons, he or she must carry the bank draft and "remittance abolishment notice" to the issuing bank to claim the returned remittance. However, those who request refund with bank drafts attached to no "remittance arrival notice" should claim their returned remittance from the bank at least one month after the period of presentation for payment (or at least two months as of the issuing date). Those who request refund after loosing their bank draft should first secure valid proof documents from the People's Court, and proceed to the bank and claim their returned remittance at least one month after the period of presentation for payment.

Commercial Draft

·	a commercial draft is a note issued by a drawer, accepted by an acceptor, promising to pay some fund to the beneficiary or bearer on due date. Judged by nature of the acceptors, commercial drafts fall into two categories: commercial acceptance draft and banker's acceptance draft.
·	Commercial drafts are applicable for both intra-city and inter-city settlement.
·	The issuance of commercial draft should be based on actual and legal commodity trades.
·	All commercial drafts are notes to order, endorsable to others.
·	A bank draft's acceptance period is negotiated by the two parties involved in a trade transaction, but should be no longer than 6 month.
·	The face value of a single banker's acceptance draft should not exceed RMB10 million yuan.
·	The beneficiary or endorsee should carry a commercial draft to their account-hosting bank before due date and present the draft to the payer for payment; the bank does not honor such requests for commercial drafts overdue for more than 10 days.
·	An accepting bank of a banker's acceptance draft charges the applier 0.05 percent of the draft's face value for acceptance commission.
·	In case of a lost commercial draft that has been accepted, the party who lost the draft may inform the payer to report the loss and apply for payment countermand.
·	Bearer of an eligible, immature banker's acceptance draft may apply for discount to the bank.

Transfer

·	Transfer is a sort of settlement in which the remitter consigns the bank to pay his or her proceeds to the designated beneficiary. There are mail transfer (M/T) and telegraphic transfer (T/T). It is applicable as institutions and individuals transfer or maneuver all sorts of funds.
·	The beneficiary may be one who has opened an account at the paying bank, or an individual who claim the lodged proceeds from the bank.
·	Upon arrival of fund for personal remittance, one may open "releasable remittance and temporary deposit account" for transfer of account, or cover draft with the original beneficiary as the beneficiary.
·	The remitter is allowed to retract the fund he or she remitted. If the beneficiary has opened a deposit account at the paying bank, the remitter may contact the beneficiary for returning remittance; if the beneficiary has not opened any deposit account at the paying bank, the remitting bank is responsible for informing the paying bank. In case the fund has not been paid, the remittance will be returned after the remitting bank retrieves the fund.

Collection

·	Collection is a means of settlement in which the beneficiary consigns the bank to collect proceeds from the payer. It is applicable when institutions and individuals process fund settlement with proofs of debt of the payer, such as acceptance commercial draft, bonds and deposit certificate.
·	Collection is applicable to intra-city and inter-city settlements. For a beneficiary means to collect service charges for public utilities within a city, he or she may apply for franchised intra-city collection if permitted by the local People's Bank of China.

Collection and Acceptance
After dispatch of goods in line with a trade contract, the beneficiary consigns the bank to collect proceeds from the payer in another city, and the payer acknowledges the payment to the bank. The two parties involved in a settlement through collection should be state-owned enterprises, supply and marketing cooperatives and collectively owned industrial enterprises with satisfactory operational and management performance, permitted by their respective account-hosting banks after examinations.