Bills of exchange, Finance Basics

Bills of Exchange

Bills of Exchange are a source of finance in specifically in the export trade. A bill of swapping is an unconditional arrange in writing addressed via one person to another needing the person to whom it is addressed to pay to him as his order a particular sum of money. The commonest categories of bills of exchange used in financing are accommodation bills of exchange. For a bill to be a lawful document; it must be like

  1. Drawn via the drawer.
  2. Bear a stamp duty
  3. Acceptable via the drawer
  4. Mature in period.

It is necessitate raising finance with:

  1. Giving it out as security.
  2. Negotiating
  3. Discounting it
Posted Date: 1/29/2013 4:50:02 AM | Location : United States

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