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Trading Terms

Time draft (time bill)

A promissory note is a type of financial instrument that requires payment on a set date in the future. This could be a specific date or a certain period of time, such as 30, 60, or 90 days after the note is issued or presented. It may also be referred to as a usance draft or usance bill. In simpler terms, it is a written promise to pay a specified amount by a certain date.
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