Commercial bill rediscount refers to the financing of financial institutions that discount (or re-discount) their unexpired commercial bills to other financial institutions. Rediscount includes buyout and repurchase. Buyout is the transfer of bills and collection by the buyer from the acceptor upon maturity. Repurchase is a financing activity with bills as the pledge of rights. Both parties agree to repurchase on a certain date in the future, and the holder will collect the payment from the acceptor.