Bill of exchange

Bill of exchange

Old financial instrument used to finance international trade. A bill of exchange is an order to pay a specified amount of money to the holder of the bill either at a set future date (a time draft) or on presentation of the bill (a sight draft). Also known as eligible bills, commercial bills, trade bills and BAs.

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Part of Speech: noun
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Industry/Domain: Financial services
Category: General Finance
Company: Reuters
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Related terms

bill of exchange

Banking; Investment banking

Payment order written by one person (the drawer) directing another person (the drawee) to pay a certain amount of money at a specified future date to a third party. It designates ...

bill of exchange

Law; General law

A bill of exchange is an unconditional written order from one person (drawer) to another (payor), asking the latter to pay a fixed amount to a third person (payee) at a fixed ...

bill of exchange

History; World history

A document purchased from a bank that allowed a person to travel without having to carry large amounts of money. Worked like a modern check.

bills of exchange

Business services; Marketing

A written order from the drawer requiring the drawee to pay on demand, or at a preset future date, a fixed amount.

bill of exchange

Financial services; General Finance

General term for a document demanding payment.

bill of exchange

Financial services; General Finance

Old financial instrument used to finance international trade. A bill of exchange is an order to pay a specified amount of money to the holder of the bill either at a set future ...

hardship assistance

Financial services; General Finance

A financial assistance given out in times of personal fincancial hardship, e.g. loss of job, insurance, or property.

government grants

Financial services; Accountancy; Finance; General Finance

Awards of financial assistance in the form of money by governments to an eligible grantee with no expectation that the funds will be paid back. This does not include technical ...

bankers' acceptances (BA)

Financial services; General Finance

Sometimes known as time drafts, these are bearer-form short-term non-interest-bearing notes sold at a discount, redeemed by accepting banks for full face value at maturity.

bed and breakfast deal

Financial services; General Finance

The sale of a share and its repurchase shortly after the beginning of a new tax year. This allows shareholders to register a capital loss or profit for tax purposes while ...

Bank for International Settlements (BIS)

Financial services; General Finance

An international organization that fosters international monetary and financial co-operation and serves as a bank for central banks and international financial organizations. It ...