Search results for keyword: drawee
"Uniform Customs and Practice for Documentary Credits"
Following Documentary Credit Uniform Customs and Practice
Documentary Credit (D/C) can be defined as “an arrangement whereby a bank (issuing bank) acting at the request and on the instructions of a customer (applicant) or on its own behalf, authorizes another bank (advising or confirming bank) t......
1069 
Oliver
Tax form
Acceptance Draft
An acceptance draft is a type of negotiable instrument that, once signed by the party that accepts it, signifies the agreement to pay a certain amount of money on a specified date. This type of instrument is typically used by businesses to transfer funds from one party to another......
acceptor
Introduction
A bill of exchange is a financial instrument that represents a debt agreement between two parties. It is an instrument used in most financial transactions and is used as a form of payment, often between parties located in different countries. A bill of exchange is a type of promissor......
Documentary draft
Accompanying Documentary Draft
Introduction
A document promising to pay a certain amount to the order of the bearer is known as a draft, and when it is drawn by a buyer on a seller to pay the purchase price of goods, it is usually known as an accompanying documentary draft. An accompanying docum......
draft
Drafts
A draft, also known as a bill of exchange, is a promise to pay a certain amount of money in exchange for goods or services. It is a commonly used form of payment and is issued by a company or individual. To pay for goods or services, the drawee must sign the document and send it to the paye......
bill acceptance
The relevant steps for acceptance of bills of exchange are as follows:
1. First, the bill of exchange must be presented to the drawee. The drawee must decide to accept or reject the bill. The drawee must sign on the acceptance or refusal on the face of the bill and return it to the holder.
2. I......
bill payment
receipt of payment
When making financial transactions, it is often necessary to provide evidence of payment. These documents, called receipts of payment, can provide substantial evidence in case of any disputes, and they ensure that accounting information is properly tracked and documented.
A re......
Usance draft
A negotiable instrument which is payable at a fixed or determinable future date and can be transferred from one person to another person is known as a “Promissory Note”. Generally, the date at which Promissory Note becomes payable is called its maturity date. A Promissory Note generally involves......
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