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- It is promise to pay
- It is anorder to pay
- There are only two parties the drawer, and the payee.
- There are three parties, the drawer, the drawee, and the payee.
- There is no necessity of acceptance
- It must be accepted
- The maker is primarily liable
- The drawer is not primarily liable.
- It is never drawn in sets
- Foreign bills are specially drawn in sets.
- Protesting is not necessary after dishonour
- A foreign bill must be protested upon dishonor.
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Raheem Raynor
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What is the difference between Deferred Payment Credit and Acceptance Credit?
Acceptance credit is always available by the draft/bill of exchange, whereas a deferred payment cerdit may and may not be available by the draft/bill of exchange.
Difference between bill of exchange and promissory note?
difference between bill of exchange and promissory note?
What is the difference between bill of entry and bill of exchange?
A bill of exchange is one person pays a certain amount for goods and services on a specific day. A bill of entry is the exact value of good that have been shipped out or come in.
What is avalised draft?
An aval is the signature on the bill of exchange of a company (or bank) which is prepared to back it or guarantee its payment.
What is the difference between bill and invoice?
What is the difference between Invoice & Bill, in common terms. What is the difference between Invoice & Bill, in common terms.
What is the difference between shipping bill and bill of lading?
Bill of Lading Issued by carrier. Showing Consignee, Exporter, quantity of goods, Type of godds, etc. Bill of exchange Issued by exporter/shipper. Showing amount of goods. This used to exchange the shipping documents within shipper and buyer through bank.
What is a difference between a draft law and a bill?
A draft law is a proposed piece of legislation that has not yet been formally introduced or submitted for consideration by a legislative body. A bill, on the other hand, is a proposed law that has been formally introduced in a legislature for consideration, debate, and potential enactment.
What is the difference between bill of lading and bill of entry?
No difference
What is difference between bill and voucher?
what is different between bill and voucher
What is draft bill of lading?
whta is Abbreviation draft bill of lading؟
What are the documents required for export?
Invoice,Packing list,GSP ( certificate of Origin ),LC,Exchange Draft,Air way bill,shipping bill,exchange controll copy,beneficiery certificate,undertaking certificate,SDF form,N form
Difference Between Bills Of Exchange And A check?
The following are the main differences between a cheque and a bill of excyange.A cheque is always drawn on a banker, whereas a bill of exchange can be drawn on any person including a banker.A cheque is always payable on demand, whereas a bill of exchange is either payable on demand or after a fixed period.Payment of a cheque can be countermanded, whereas the payment of a bill of exchange cannot be counter mended.A cheque can be made payable to a bearer, but a bill of exchange can be made payable only to order.A cheque is a means of payment. But a bill of exchange is usually used for financing a trade.In a cheque, the drawer of the cheque is primarily responsible, but in a bill of exchange, the drawee or acceptor is primarily responsible for payment.When a cheque is dishonoured, noting and protesting is not necessary/required. But when a bill of exchange is dishonoured, noting and protesting is necessary.When a cheque is dishonoured, the holder of the cheque need not give notice of dishonour to the drawer to make him liable on the cheque. But on the other hand, when a bill of exchange is dishonoured, notice of dishonour is to be given to all parties, including the drawer to make them liable on the instrument.A cheque can be crossed, but a bill of exchange needs no crossing.M. J. SUBRAMANYAM, BANGALORE
