bill of exchange (Meaning)

Wordnet

bill of exchange (n)

a document ordering the payment of money; drawn by one person or bank on another

No Synonyms and anytonyms found

A bill of exchange is a written order by one party to another, directing the latter to pay a specified sum of money to a third party.
In international trade, bills of exchange are commonly used as a means of payment between buyers and sellers.
The bill of exchange includes details such as the names of the parties involved, the amount to be paid, and the date of payment.
Banks often act as intermediaries in the exchange of bills of exchange, facilitating transactions between parties.
A bill of exchange serves as a legally binding document, similar to a promissory note, obligating the payer to fulfill the payment terms.
The acceptance of a bill of exchange by the payer indicates their agreement to pay the specified amount on the due date.
Bills of exchange can be negotiable instruments, meaning they can be transferred or sold to third parties before the payment is due.
Companies may use bills of exchange to extend credit terms to customers or to settle accounts payable with suppliers.
The use of bills of exchange dates back centuries and has been a fundamental tool in commerce and finance.
Failure to honor a bill of exchange can result in legal consequences, including lawsuits for non-payment.

a document ordering the payment of money; drawn by one person or bank on another

No synonyms found.

No antonyms found.

A bill of exchange is a written order by one party to another, directing the latter to pay a specified sum of money to a third party.

In international trade, bills of exchange are commonly used as a means of payment between buyers and sellers.

The bill of exchange includes details such as the names of the parties involved, the amount to be paid, and the date of payment.

Banks often act as intermediaries in the exchange of bills of exchange, facilitating transactions between parties.