Bill of exchange
From Economypedia.com
A bill of exchange is a document acknowledging an amount of money owed in consideration for goods received. It is a kind of a written financial document that states the company or the individuals mentioned in the document to pay a certain amount on a particular date. It contains the debtor's authorized signature. This is makes it authentic and legal. The parties that sign the bill of exchange have to go by its norms.
A bill of exchange comes in various forms. A bank check is a sort of bill of exchange and so is a bank draft. In some countries, businesses or transactions are usually carried out by a bill of exchange.
See also
Common Mis-spellings
- Bill of exchane
- Bill of echange
- Bill of ecxhange
- Bil of exchange
