The Banking Act of The Republic of China Article 15

The term "commercial negotiable instrument" as used in this Act shall refer to a bill of exchange or promissory note issued in connection with domestic or foreign trade in goods or services.The bill of exchange in the preceding paragraph is called a commercial acceptance when its payor is the recipient of the goods sold or services provided and has accepted it.The bill of exchange is called a banker’s acceptance when the recipient in the preceding paragraph mandates a bank as the payor and the bill of exchange is accepted by the bank. The same applies to cases where a person who sells goods or provides services signs and issues a bill of exchange in the transaction amount based on transaction documents and mandates a bank as the payor, and such bill of exchange is accepted by the bank.A bank’s purchase of a post-dated bill of exchange or promissory note by means of deducting non-accrued interest in advance shall be called a discount.