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作为商品经济的产物,汇票最初是作为支付结算工具出现的,但随着市场经济的发展,汇票逐渐发挥了巨大的融资功能。汇票的融资功能主要是通过贴现和质押两种方式实现的。汇票贴现的本质就是未到期汇票的买卖,具有成本低、效率高、资金周转率高、收息时效短等特点,但其突破了我国现行的法律框架,并容易引发道德风险;汇票质押的本质则属于权利质押,具有安全性高、易于保管、简单方便等特点,但不同的法律对其生效要件规定了不同的要求,导致司法实践中对汇票质押是否生效多有争议。
As a product of the commodity economy, bills of exchange emerged as payment and settlement instruments at first. However, with the development of market economy, bills of exchange gradually exerted tremendous financing functions. The financing function of the draft is mainly achieved through discounts and pledges. The essence of bill discounting is the sale and purchase of un-matured bills, which has the characteristics of low cost, high efficiency, high capital turnover and short time-to-interest, but it breaks through the current legal framework in our country and easily leads to moral hazard. Nature belongs to the pledge of rights, which has the characteristics of high security, ease of custody, simple and convenient. However, different laws have different requirements for its entry into force requirements, which leads to more controversy over whether the pledge of draft is effective in judicial practice.