Definition of bill of exchange in US English:

bill of exchange


  • A written order to a person requiring the person to make a specified payment to the signatory or to a named payee; a promissory note.

    • ‘A bill of exchange is issued by the exporter's bank which orders the importer or the importer's bank to pay a specified sum on a specific day.’
    • ‘A bill of exchange or a note is not, in itself, such a means.’
    • ‘Included are the traditional bills of exchange, cheques, promissory notes, bonds, and share warrants, as well as share certificates, money transfer orders, and deposit receipts.’
    • ‘Then the vendor redeems his units and gets the cheque or the bill of exchange endorsed over to it.’
    • ‘The banker therefore held money on ‘deposit’ for merchants and in return established sufficient ‘credit’ for other merchants to accept their bills of exchange as a form of money in its own right.’
    • ‘The manufacturer offered the merchant a bill of exchange, promising payment of, say, £100 in six months, so escaping the constraints of the usury laws with their upper limits on interest rates.’
    • ‘The markets for bills of exchange and bankers' acceptances are simply too small to be of any use.’
    • ‘Why is a bill of exchange on London the standard currency of all commercial transactions?’
    • ‘This master file then automatically generates key documents such as commercial invoices, packing lists, bills of exchange, and beneficiary certificates in minutes.’
    • ‘In fact, life insurance joined stock shares, bonds, mortgages, bills of exchange, and promissory notes as inevitable props for England's dynamic economy.’
    • ‘Thus bills of exchange, promissory notes, and certificates of deposit can be, and frequently are, pledged to banks.’
    • ‘It then presents a brief outline of how legal developments proceeded to make the bill of exchange a more liquid and widely accepted financial instrument.’
    • ‘A bond is treated as the equivalent of a bill of exchange or a letter of credit, so that it follows that normally a set-off or counterclaim will not be enough to prevent judgment being given.’
    • ‘They tiptoed back to financing industry after 1898, but on the basis of current-account credit and bills of exchange rather than the purchase of share capital.’
    • ‘The bill of exchange just looks like a normal bill of exchange, a negotiable instrument that says a written order on somebody to pay which is accepted by another person and endorsed across.’
    • ‘A married woman was sued on a bill of exchange and a cheque that she had signed at the request of her husband.’
    • ‘As for the case of its discounting the purchase of the bills of exchange, if the company had given direct loan (as to the debtor), the Bank might have made a remark that a substantially high sum of money had been lent to an affiliated business.’
    • ‘The negotiable document setting down the terms of credit is the so-called bill of exchange.’
    • ‘Colonial merchants did make use of domestic and foreign bills of exchange, but it was nearly impossible to convert these financial instruments into cash during periods of stringency.’
    • ‘A merchant could obtain a bill of exchange as a loan.’
    cheque, order, banker's order, money order, postal order
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bill of exchange

/ˈbil əv əksˌCHānj//ˈbɪl əv əksˌtʃeɪndʒ/