Interest Rate Markets Quiz 3: Difference between revisions
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{ '''Bills of exchange''' | { '''Bills of exchange''' | ||
|type="{}"} | |type="{}"} | ||
A bill of exchange is { negotiated } instrument which is sold at a { discount } to its face value. Its term can vary from { one } { day } to { six } { months }. | A bill of exchange is a { negotiated } instrument which is sold at a { discount } to its face value. Its term can vary from { one } { day } to { six } { months }. | ||
The main use of bills of exchange in Australia is as a means of obtaining { credit }, but not necessarily related to specific trading transactions. Bills not related to trade transactions are called '{ accommodation }' bills. | The main use of bills of exchange in Australia is as a means of obtaining { credit }, but not necessarily related to specific trading transactions. Bills not related to trade transactions are called '{ accommodation }' bills. | ||