yes
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
Take it to any bank they will change it. Value you will get depends on the quality of the bill.
Take it to any bank, the bank has an arrangement with the Department of Engraving and Printing and so long as the bill has a full set of serial numbers on one side and partial set of serial numbers on the other side you should be able to exchange it for a fresh one at the bank with no problem. If the bill is more worn out and the bank can't exchange it, you might want to contact the Bureau of Engraving and Printing directly and they will give you instructions on how to turn in the bills for a new bill.
You take it to any bank and they will exchange it.
A bill of exchange is like a personal check. The person who wrote the check is instructing the bank (a third party) to cash the check for the payee. A promissory note is also a bill of exchange that instructs a person to pay a certain amount to another person.
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
Take it to the bank and exchange it for two $1 bills.
Take it to any bank they will change it. Value you will get depends on the quality of the bill.
If there is at least 51% of the bill, it can be taken to a bank in exchange for a replacement note of equal value.
Your best bet is to take it to a bank and exchange it for a complete bill. There are regulations covering how much of a bill can be missing before it is considered worthless, and the bank personnel can give you specific information.
Take it to any bank, the bank has an arrangement with the Department of Engraving and Printing and so long as the bill has a full set of serial numbers on one side and partial set of serial numbers on the other side you should be able to exchange it for a fresh one at the bank with no problem. If the bill is more worn out and the bank can't exchange it, you might want to contact the Bureau of Engraving and Printing directly and they will give you instructions on how to turn in the bills for a new bill.
Take it to any bank and exchange it for a clean one. Banks routinely destroy damaged bills.
Bill of exchange is an old fashion method of debt settlement, paper based and is not authenticated. LC is a new method which is based on SWIFT MT700 and is bank to bank authentication of a debt settlement in trade. LC, by default, is bank to bank sponsorship but Bill of exchange, by default is not a banking instrument. however, bank may be involved in its parties or not. Bill of exchange , solely cannot be used in trade unless this is accepted by buyer's bank which is called documentary collection. also , along with LC , some banks use Bill of exchange as a supporting and cheaper method of guarantee. Recently, there is a new version of Bill of exchange, named Billex , offered by Billex trade finance corp in Canada and Singapore, which has an online reporting system and verification possibility to compensate for lack of authenticity of Bill of exchange. some banks are using it and some see it as a thread to their LC business . Billex is cheap and LC is expensive... I guess it will grow very fast in the market.
bill of exchange
You take it to any bank and they will exchange it.