Bill of Exchange is similar to promissory notes used majorly in international trade. It binds one party with the other holding them accountable to pay a fixed amount on demand. The Bill of exchange isn’t a contract, however, the parties involved can use it to specify the terms of the transaction.
At Alliance Digital Corporation Banque, we help you get the bill of exchange, especially, when you are planning to trade internationally. We will act as the third party guaranteeing the payment. Further, this also reduces any risk associated with future transactions.
The bill of exchange works in such a way that the seller presents the bill of exchange to the buyer. And the buyer has to essentially sign it for the bill to become valid. In the future, the buyer is required to pay a certain amount on the receipt of the bill. Moreover, no interest is charged on it.
Bill of exchange plays an important role in international trade, wherein the exporter’s bank draws it and the document submission takes place through the importer’s bank.
In case, the importer dishonours the document and is unable to make the payment, the importer’s bank is responsible to make the payment.
Get a Call Back
Looking for a First-Class Business Corporate Banking Services ?