Bill of Exchange
A negotiable instrument is a powerful tool in the world of finance, representing an unwavering demand for payment. It serves as the foundation for documentary collection procedures and, when paired with the exporter's commercial invoice, allows for the charging of goods to the importer. According to the Bill of Exchange Act, a negotiable instrument is an unconditional written order from one person to another, requiring payment of a specific amount on demand or at a predetermined future date. The bill is signed by the drawer and directed to the drawee, who becomes the acceptor upon signing their name. The recipient of the payment is known as the payee.
Related terms
Understand the meaning and definition of Phasor in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of High-Ticking in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of IRA in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Opening Call in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Annual Net Profit Margin in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Document of title in the context of stock market, trading, and investments.
MORE
Enjoy Zero Brokerage On Stock Investments
Get the link to download the App
