Bill of Exchange

Bill of Exchange is an unconditional order in writing, issued by the seller (drawer) instructing the buyer (drawee) to pay the seller's bank (payee) a specified amount (normally the full invoice value) on demand (at sight) or at a fixed or determinable future time. A suitable form can be obtained from the seller's bank, or drawn up on a blank sheet of paper.

Sight Draft

A bill of exchange drawn "at sight" meaning that as soon as the drawee accepts the bill it falls due for payment.

Bill of Exchange in Wikipedia

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