No Result
View All Result
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL
No Result
View All Result
No Result
View All Result
Home Law

Types of Bills of Exchange

ON DEMAND NEWZ by ON DEMAND NEWZ
August 30, 2024
Reading Time: 2 mins read
0
Bill of exchnage
Share on Facebook

Bill of exchnage

If someone writes down a bill of exchange and has it stamped and signed by the person who holds it, it is also a tradable tool. It tells the bank to give the person who owns this document a certain amount of money on demand or within a certain amount of time. For these to be valid, the debtor must agree to them. They are generally payments for goods and services. These things are some of the things that it has.

  • It needs to have the right date on it.
  • possesses an order of payment
  • It is required that the drawer or maker sign it.
  • A drawee must agree to accept the bill.
  • The amount and order of payment should be made clear.

It needs to be sent to the right receiver.

The following three people are involved:

Drawer: The person who issued the document and gets the money.

Drawee: The person or thing that needs to pay the amount.

Payee: The payee is the person who gets paid, and this person is usually the same as the drawer.

Buy JNews
ADVERTISEMENT
  1. Documentary Bill: This type consists of a bill of exchange backed by pertinent documents that attest to the authenticity of the transaction or sale between the purchaser and vendor.
  2. Demand bill: Demand bills are due and payable at the time they are demanded. Due to the absence of a specified payment due date, the account must be settled at the time it is presented.
  3. Usage Bill: This type of bill is time-bound, requiring payment to be received and processed within the specified period and timeframe.
  4. Inland Bill: An inland bill is exclusively remittable within a single country and not in any other foreign jurisdiction. This bill is the antithesis of the foreign bill.
  5. Clean Bill: In the absence of any substantiating documentation, this bill carries a relatively higher interest rate in comparison to the other bills.
  6. Foreign Bill: A foreign bill refers to a bill that is eligible for payment outside of India. An import bill and an export bill are both instances of a foreign bill.
  7. Accommodation Bill: An accommodation bill is a bill that is sponsored, drawn, and adopted without any stipulations.
  8. Trade Bill: This type of bill is exclusively associated with trade.
  9. Supply Bill: The invoice that the government department receives back from the supplier or contractor is referred to as the supply bill.
Tags: #types of bill of exchange
ON DEMAND NEWZ

ON DEMAND NEWZ

Related Posts

Physical distribution
Business

Product Physical distribution and factors marketing channels

September 18, 2024
UPS NPS OPS
Business

Comparing UPS, NPS, and OPS: Which option is more advantageous for your retirement?

September 8, 2024
Food Sabji Mandi
Business

खाद्य पदार्थों की कीमतें मुद्रास्फीति के खिलाफ लड़ाई का हिस्सा क्यों होनी चाहिए

August 30, 2024
Food Sabji Mandi
Economy

How to deal with food prices that are too high?

August 30, 2024
National Pension Scheme
Business

सरकार नई पेंशन योजना (एनपीएस) के लिए धन कम कर रही है और गारंटीकृत पेंशन वापस आ रही है।

September 2, 2024
National Pension Scheme
Business

The government is reducing funding for the New Pension Scheme (NPS), and guaranteed pensions are making a comebacK.

September 2, 2024

Recommended Stories

Suheldev Bharatiya Samaj Party Chief joins NDA alliance

Suheldev Bharatiya Samaj Party Chief joins NDA alliance

July 16, 2023
The film that took 14 years in making!

The film that took 14 years in making!

April 6, 2023
Mumbai Rains : More showers expected Today, Yellow alert issued. Check local train schedule and other details.

Mumbai Rains : More showers expected Today, Yellow alert issued. Check local train schedule and other details.

June 28, 2023

Popular Stories

  • Meet Kyra; India’s first virtual influencer!

    Meet Kyra; India’s first virtual influencer!

    2599 shares
    Share 1040 Tweet 650
  • ‘BHOLAA’ movie new posters out! Checkout the cast and more….

    2502 shares
    Share 1001 Tweet 626
  • Pushpa: The Rule first look and Teaser OUT

    2127 shares
    Share 851 Tweet 532
  • Michael Movie Review: Effective making and an intense narration resurrects sub story.

    1907 shares
    Share 763 Tweet 477
  • India becomes world’s largest populated country, surpasses China’s population

    1738 shares
    Share 695 Tweet 435

On Demand Newz is a news website that provide daily updates on politics, entertainment, business, technology, sports and lifestyle. We also provide the latest national and international news from various countries in the world. Our mission is to provide a curated, detailed, and valuable daily news website around the world, information and entertainment that will bring you insights from all corners of the globe.

Recent Posts

  • Iran and Israeli War (June 2025)
  • The fast action taken by State Legislator Rajan Naik in response to the issue of the Vasai Virar Municipal Practitioner, Students:
  • वसई विरार म्यूनिसिपल, छात्रों के मुद्दे पर राज्य के विधायक राजन नाइक द्वारा की गई त्वरित कार्रवाईः
  • The US bombs Yemen, killing 31, after the Houthis make threats against Israel over Gaza.
  • India’s Urbanization Challenge: Creating Sustainable Cities Introduction.
  • Results of Delhi Assembly Election 2025: Complete list of winners constituency wise.
  • Basics of Sports Management Environment.

Categories

  • AI
  • Applications
  • Business
  • Business
  • Corporate Law
  • Culture
  • Culture & Beliefs
  • Economy
  • Editorial
  • Education

Categories

  • Entertainment
  • GK 2025
  • Health
  • Industry
  • International
  • Law
  • Lifestyle
  • Mass Media
  • National
  • Newness

© 2025 On Demand Newz

No Result
View All Result
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL

© 2025 On Demand Newz

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?