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What is bill of exchange?

Core Banking Economics Bill Payment
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Question added by Muhammad shahid khan , Counter Service Officer , Bank Alfalah
Date Posted: 2016/07/13
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Maria Selivanova
by Maria Selivanova , Credit analyst in Corporate department , Volkswagen Bank

It's an uncoditional order to the specified person to pay a certain amount of money to the Payee or a person specified by the endorsement. The bill of exchange may state the execution date or can be payable on demand. Banking check is essentially a kind of bill of exchange. 

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