What are the difference between Trade Bill and Accommodation Bill?

Following is the distinction between trade and accommodation bill:

Trade Bill:

  • There are drawn for trade purposes.
  • These are drawn against proper consideration.
  • These bills are proof of debt.
  • For obtaining the debt from drawee, drawee can resort to legal action.

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Accommodation Bill:

  • These are drawn and accepted for financial assistance.
  • These are drawn in the absence of any consideration.
  • These bills are not a proof of debt.
  • Legal action cannot be resorted the recovery of amount against these bills by the immediate parties.
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