Definition of Value bill

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TeachMeFinance.com - explain Value bill




historic definition...

Value bill -- (of exchange). A draft (bill of exchange) drawn against a consignment of property. For instance, if A in New York ships goods to B in London and draws on B for the value of the goods, attaching the bill of lading, insurance policy, etc., to the draft (bill of exchange), the bill is a value bill. Again, if a banker in New York sells securities to a banker in London and draws on the banker in London for the value of the securities, attaching .the securities to the draft (bill of exchange), the bill is a value bill. See Non-value bill (of exchange).



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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