what are the advantages of bill of exchange?

The advantages of Bill of Exchange are as follows:

  • It is a legal evidence of debt, the creditor being able to save on the bill itself. It also fixes the date of payment.


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  • It is a negotiable instrument and can therefore, be transferred by the holder to a third party in settlement of his own debt.
  • It can be cashed before the due date by discounting it with a banker.
  • Foreign bills help to expand foreign trade.
  • The drawee may pay the bill before the due date and he can avail of the rebate.
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