The bill of exchange as a means of payment and security

Belovski, Vojo and Majhosev, Andon and Dujovska, Ivana (2016) The bill of exchange as a means of payment and security. (JPMNT) Journal of Process Management – New Technologies, International, 4 (3). pp. 39-49. ISSN 2334-7449 (Online)/ 2334-735X (Print)

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Abstract

The bill of exchange is a kind of paper in order that its holder shall entitle the debtor named in the document to pay a certain amount of payments. The bill of exchange represents a means of payment and an instrument of providing the payment. It is an unconditional order given by the drawer to the drawee to pay a certain amount to the payee listed on the bill of exchange. The bill of exchange is generally a paper on the orders but it can be issued as value paper to a name. It is such promissory notes where the issuer becomes a clause not by order. The bill of exchange though it appears as a means of payment and an instrument for securing the payment it also appears as a means of international payment, because the bill of exchange can become a modern instrument of crediting and payment. With the development of the credit market and the bill of exchange becomes a means for the drawer and the drawee. This means that instead of the bill of exchange to be paid after the expiry of a certain deadline for submission of the bill of exchange the holder may sell or discount, or to pay before the deadline for submission. With this the bill of exchange becomes a toll for discount. Based on this we can conclude that the bill of exchange has the following roles: -bill of exchange serves as a means of credit; -bill of exchange serves as means of payment; -bill of exchange serves as a means for discount by. Keywords: security, bill of exchange of exchange, tender, an instrument for securing the payment.

Item Type: Article
Subjects: Social Sciences > Law
Divisions: Faculty of Law
Depositing User: Andon Majhosev
Date Deposited: 04 Nov 2016 13:04
Last Modified: 04 Nov 2016 13:04
URI: http://eprints.ugd.edu.mk/id/eprint/16580

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