How Does a Bill of Exchange Work?


A bill of exchange refers to a document that is drawn up by an individual who desires to buy some goods and does not have the money to purchase. The individual is given time, normally 90 days before he has to re-pay the money. The bills of exchange may be discounted depending on the bank but normally the present value is normally taken equal as the phase value.
Q&A Related to "How Does a Bill of Exchange Work"
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A bill of exchange is an instrument drawn by the seller on the buyer to pay a specified amount of money on a paticular date.
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BOE is the abbreviation for bill of exchange. It is a written,
1 Additional Answer
A bill of exchange is a document drawn up by a person who wants to buy some goods but has no money and it gives the drawee some time usually 90 days before he has to repay the amount. Some banks discount bills of exchange although they pay the present value of the bill which is calculated as present value=face value of the bill-interest meaning the drawer gets less.
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