bill of exchange (BOE)

Related Terms
A written, unconditional order by one party (the drawer) to another (the drawee) to pay a certain sum, either immediately (a sight bill) or on a fixed date (a term bill), for payment of goods and/or services received. The drawee accepts the bill by signing it, thus converting it into a post-dated check and a binding contract.

A bill of exchange is also called a draft but, while all drafts are negotiable instruments, only "to order" bills of exchange can be negotiated. According to the 1930 Convention Providing A Uniform Law For Bills of Exchange and Promissory Notes held in Geneva (also called Geneva Convention) a bill of exchange contains: (1) The term bill of exchange inserted in the body of the instrument and expressed in the language employed in drawing up the instrument.

(2) An unconditional order to pay a determinate sum of money. (3) The name of the person who is to pay (drawee). (4) A statement of the time of payment. (5) A statement of the place where payment is to be made. (6) The name of the person to whom or to whose order payment is to be made. (7) A statement of the date and of the place where the bill is issued. (8) The signature of the person who issues the bill (drawer). A bill of exchange is the most often used form of payment in local and international trade, and has a long history- as long as that of writing.

Use 'bill of exchange (BOE)' in a Sentence

The bill of exchange was made juvt to make sure everything got paid and by a certain time to keep thing in order.
17 people found this helpful
The salesman was relieved to finally get the bill of exchange signed, after working many long weeks to arrange the new deal.
16 people found this helpful
You need to know what the bill of exchange says and make sure you are giving up everything that you must.
14 people found this helpful




Email Print Embed


<cite id="yvPRVNP"><span id="yvPRVNP"></span></cite>
<cite id="yvPRVNP"><span id="yvPRVNP"></span></cite>
<cite id="yvPRVNP"></cite>
<ins id="yvPRVNP"></ins><cite id="yvPRVNP"><span id="yvPRVNP"></span></cite><ins id="yvPRVNP"></ins>
<cite id="yvPRVNP"></cite><ins id="yvPRVNP"></ins>
<var id="yvPRVNP"><span id="yvPRVNP"><menuitem id="yvPRVNP"></menuitem></span></var><var id="yvPRVNP"><video id="yvPRVNP"><thead id="yvPRVNP"></thead></video></var>
<cite id="yvPRVNP"></cite>
<var id="yvPRVNP"></var>
<var id="yvPRVNP"><span id="yvPRVNP"><menuitem id="yvPRVNP"></menuitem></span></var>
<var id="yvPRVNP"><span id="yvPRVNP"></span></var>
<cite id="yvPRVNP"></cite>
<cite id="yvPRVNP"><video id="yvPRVNP"><var id="yvPRVNP"></var></video></cite><cite id="yvPRVNP"></cite><var id="yvPRVNP"><span id="yvPRVNP"></span></var>
<var id="yvPRVNP"></var>
<cite id="yvPRVNP"></cite>
<ins id="yvPRVNP"><span id="yvPRVNP"></span></ins>
<ins id="yvPRVNP"></ins>
  • 417382779 2018-02-20
  • 872964778 2018-02-20
  • 986857777 2018-02-20
  • 897952776 2018-02-20
  • 8817775 2018-02-20
  • 641753774 2018-02-20
  • 63537773 2018-02-19
  • 800463772 2018-02-19
  • 483929771 2018-02-19
  • 757618770 2018-02-19
  • 898576769 2018-02-19
  • 784484768 2018-02-18
  • 935121767 2018-02-18
  • 755185766 2018-02-18
  • 681379765 2018-02-18
  • 690204764 2018-02-18
  • 323435763 2018-02-17
  • 688202762 2018-02-17
  • 79305761 2018-02-17
  • 850445760 2018-02-17