https://www.taxtmi.com/article/detailed?id=8042 Bills of Exchange secure international sale transactions by creating an unconditional written order requiring payment on demand or at a determinable future time; sight drafts are payable on presentation and usance drafts at a future date. Acceptance by a bank or buyer yields a banker's acceptance or trade acceptance. When transport documents like the bill of lading are attached, the bill becomes a documentary bill preventing the buyer from obtaining rights to goods before acceptance or payment, and drafts remain negotiable and transferable by endorsement. en-us Wed, 27 Jun 2018 06:40:57 +0530 Wed, 27 Jun 2018 06:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8042 Bills of Exchange secure international sale transactions by creating an unconditional written order requiring payment on demand or at a determinable future time; sight drafts are payable on presentation and usance drafts at a future date. Acceptance by a bank or buyer yields a banker's acceptance or trade acceptance. When transport documents like the bill of lading are attached, the bill becomes a documentary bill preventing the buyer from obtaining rights to goods before acceptance or payment, and drafts remain negotiable and transferable by endorsement. Articles Customs - Import - Export - SEZ Wed, 27 Jun 2018 06:40:57 +0530 https://www.taxtmi.com/article/detailed?id=8042