Trade bill - bill of exchange

Originally, it referred to export bills (from the exporting country) and import bills (from the importing country) issued in connection with exports and imports, but after World War II in Japan, the term trade bill refers to financial bills that were approved by special provisions to facilitate smooth financing for exports and imports.

Providing funds necessary for the production and procurement of export goods is not trade finance as it is in the original sense, but financing at the previous stage. However, in the financially strained situation immediately after World War II, there was a fear that exports would decline if preferential treatment was not given to financing at this stage. Therefore, from September 1946 (Showa 21), the Bank of Japan called bills issued by exporters to collect export goods trade bills, and gave them preferential treatment in terms of interest rates and other points over other bills. This was the beginning of the trade bill system. Later, with the resumption of private import trade in 1950, this system was also applied to the supply of funds necessary for importers to settle import bills. The former were called export trade bills and the latter import trade bills, but in 1953, the former were renamed export advance bills and the latter import settlement bills, respectively. In addition to the bills mentioned above, what are generally referred to as trade bills today also include yen-denominated export bills with due dates and yen-denominated import bills, which were given preferential treatment following the adoption of the yen exchange rate in 1985.

[Tsuchiya Rokuro]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

もともとは輸出入に伴って振り出された輸出手形（輸出国側）、輸入手形（輸入国側）をさしたが、第二次世界大戦後日本で貿易手形というときは、輸出入上の金融を円滑にするため特例によって認められた金融手形をさす。

　輸出品の生産や仕入れに必要な資金を融通するのは本来の貿易金融ではなく、その前段階の金融であるが、第二次大戦直後の金融の逼迫(ひっぱく)した状況下では、この段階の金融を優遇しないと輸出が振るわなくなるおそれがあったので、1946年（昭和21）9月以降日本銀行は輸出業者が輸出品の集荷のために振り出した手形を貿易手形と称して、金利その他の点で他の手形よりも優遇した。これが貿易手形制度の始まりである。その後1950年の民間輸入貿易再開に伴い、輸入業者の輸入手形決済のために必要な資金の供給にもこの制度が準用されることとなった。前者を輸出貿易手形、後者を輸入貿易手形とよんだが、53年に前者は輸出前貸手形、後者は輸入決済手形にそれぞれ改称された。なお、今日一般に貿易手形といわれるものには、以上の手形のほかに、60年の円為替(かわせ)の採用に伴い優遇を認められることとなった円表示期限付輸出手形、円表示輸入手形も含まれる。

［土屋六郎］

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