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Bill of Exchange

Shipping
Beauty Supplies
From Chile
To Nigeria
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Fernando J.
Not rated
Oct 15, 2020

What effect does the use of a bill of exchange have in trade dealings?

1 answer

Jasmine G.
Not rated
Oct 15, 2020

A bill of exchange is a demand for payment issued by the seller to the buyer. A valid bill of exchange facilitates payment of trade transactions and provides a more straightforward way of debt recovery in the event of default than relying on the underlying commercial contract. A bill of exchange is not a guarantee of payment. However, it does allow for legal recourse against the acceptor in the event that payment is not made.

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