Definition of bill of exchange in English English dictionary
A document demanding payment from another party, especially used in international trade
a promise to pay at a specific time issued to suppliers by purchasers in exchange for goods Bills may be held to maturity or sold at a discount on the money market if cash is required sooner
An unconditional order in writing, signed by a drawer such as a buyer, and addressed to the drawee, typically a bank, ordering the drawee to pay a stated sum of money to a payee, often a seller, on demand or at a fixed or determinable future time The most common versions of a bill of exchange are a draft or a promissory note
A legal document, such as a cheque, where one person in writing specifies that a third party will pay a person a specific sum of money at a specific time, or upon demand
a document ordering the payment of money; drawn by one person or bank on another
A written order directing that a specified sum of money be paid to a specified person. bills of exchange a signed document ordering someone to pay someone else a particular amount of money. Short-term negotiable financial instrument consisting of a written order addressed by the seller of goods to the buyer requiring the latter to pay a certain sum of money on demand or at a future time. Bills of exchange are often used in international transactions, and the holder of such a bill may redeem it in cash immediately by selling it to a bank at a discount. Bills of exchange used in domestic transactions are sometimes called drafts. See also promissory note
An instrument similar to a time or sight draft which the buyer signs This is acknowledgement of debt for the goods he is buying
A signed, written order by one business that instructs another business to pay a third business a specific amount Also called a draft BACK TO TOP
An order in writing given by one person to another requiring the receiver to pay a certain sum of money to another person at a fixed or determinable future date Frequently known as a "draft" or "bill" See also definition for "Export Document Flow"
The drawn bill of exchange, or draft, is an order by which the drawer instructs the debtor, without stating the reason for the indebtedness, to pay, unconditionally, a certain sum of money to the payee of the bill of exchange designated in the document or to his order, whereby the drawer is personally liable for acceptance and redemption In contrast, the negotiable bill of exchange (negotiable promissory note) is an undertaking to pay, by which the drawer, without stating the reason for the indebtedness, is personally under an obligation to pay a certain sum of money to the payee of the bill of exchange designated in the document or to his order
A certificate promising to repay a stated amount on a certain date, typically three months from the issue of the bill Bills pay no interest as such, but are sold at a discount and redeemed at face value, thereby earning a rate of discount for the purchaser
A written order requesting one party (such as an importer) to pay a specified amount of money at a specified time to the order of the writer of the bill of exchange Also called a "draft " See Sight draft
Synonymous to a draft, (draft is the common name in the US; however, under law, this document is known as a bill of exchange) this is a written, unconditional and negotiable demand for payment A bill of exchange is a written order for a certain sum of money, to be transferred on a certain date from the person who owes the money or agrees to make the payment (the drawee) to the creditor to whom the money is owed (the drawer of the bill) Thus, it is the creditor or the drawer, who actually draws (fills out) the bill of exchange as to the amount due and the date on which it is to be paid It is addressed to the debtor, the drawee The bill of exchange must be accompanied by an instruction letter Upon request, this may be obtained from one's bank
The most commonly-used financial instrument in international trade An unconditional payment demand for a specific sum of money, payable either at sight or at a specified future date This is drawn up by the seller and presented to the buyer This is sometimes called "the draft "
A written, dated, and signed three-party instrument containing an unconditional order by a drawer that directs a drawee to pay a definite sum of money to a payee on demand or at a specified future date Also known as a draft
A signed, written order by one business that instructs another business to pay a third business a specific amount Also called a draft
A written order, which may be negotiable or nonnegotiable, directing one party to pay a certain sum of money to the drawer or to a third person
An instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument
An unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a certain sum in money to order or to bearer (Uniform Negotiable Instruments Law); in commercial usage, often synonymous with draft or acceptance The term is by custom, generally confined to an order to pay money arising out of a foreign transaction, "draft" being the term relating to a domestic transaction
An instrument similar to a time or sight draft which the buyer signs This is acknowledgement debt for the goods he is buying
An unconditional order in writing from one person (the drawer) to another (the drawee), directing the drawee to pay a specified amount to a named drawer at a specified future date Also referred to as draft
Signed, written order by one business that instructs another business to pay a third business a specific amount Also called a draft
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