bill of exchange

bill of exchange definition - business

bill of exchange

A written order by a person or business for payment of a specified amount by the recipient to a third party. A bill of exchange is negotiable and generally sells at a discount. See also trade acceptance.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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