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Title: Bills Of Exchange

Essay Details

Subject: Business
Author: Ernesto R
Date: August 15, 2013
Level: University
Grade: A
Length: 2 / 453
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

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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