Bill of Exchange

A signed promise to pay by a receiver of goods or services and kept by the supplier.

REMARKS
May be sold at a discount. A means of trade payment used by companies to finance themselves. They pay a fee to an accepting house which accepts (gurantees) the bill. They they present the bill to a discount house which pays them money in advanced on the strength of the bill, subject to a discount on its face value. Also known as a bankers acceptance and commercial bill.

© 2024 Better Solutions Limited. All Rights Reserved. © 2024 Better Solutions Limited Top