Bill Of Exchange

Business, Legal & Accounting Glossary

Definition: Bill Of Exchange

Bill Of Exchange

What is the dictionary definition of Bill Of Exchange?

Dictionary Definition

n. a writing by a party (maker or drawer) ordering another (payor) to pay a certain amount to a third party (payee). It is the same as a draft. A bill of exchange drawn on a bank account is a “check.

Full Definition of Bill Of Exchange

bill of exchange is a document acknowledging an amount of money owed in consideration for goods received. It is a kind of a written financial document that states the company or the individuals mentioned in the document to pay a certain amount on a particular date. It contains the debtor’s authorized signature. This makes it authentic and legal. The parties that sign the bill of exchange have to go by its norms.

A bill of exchange comes in various forms. A bank check is a sort of bill of exchange and so is a bank draft. In some countries, businesses or transactions are usually carried out by a bill of exchange.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Bill Of Exchange. Payroll & Accounting Heaven Ltd.
October 04, 2022
Chicago Manual of Style (CMS):
Bill Of Exchange. Payroll & Accounting Heaven Ltd. (accessed: October 04, 2022).
American Psychological Association (APA):
Bill Of Exchange. Retrieved October 04, 2022
, from website:

Definition Sources

Definitions for Bill Of Exchange are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.