A bill of exchange is a negotiable document, it must be signed by the debtor and contain the amount of debt and date of future payment..

Types of commercial bills

Bill of exchange: Credit Title under which a drawer gives order to the debtor, the drawee to pay a third party beneficiary a sum of money on a specified date Promissory Note: The promissory note is a document where the subscriber agrees to pay the beneficiary a sum of money on a specified date..

Collection of encashmentbills

In this case where the bearer of thebill keeps it in his portfolio until maturity and then presents it to the bank for encashment