Bills Of Exchange

Essay specific features

 

Issue:

Business

 

Written by:

Joyce J

 

Date added:

January 13, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 453

 

Was viewed:

2945 times

 

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Essay content:

Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. Prior to the advent of paper currency, bills of exchange were a common means of exchange. They are not used as often today. For example, you have accepted that your customer pays the invoice amount in 3 monthly installments of 1000 USD each...
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They are not used as often today. For example, you have accepted that your customer pays the invoice amount in 3 monthly installments of 1000 USD each. You will issue 3 bills of exhange of 1000 usd each and maturing in month in month m, m+1 and m+2. The bills of exchange will be sent to your customer for acceptance(customer signs them)...
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