Bills of exchange

Bill of exchange is the security, which shall be issued in the order set by the Law. The person (either individual or juridical entity), who issues the bill of exchange, unconditionally undertakes to pay either directly or indirectly (oneself or by charging another entity) the particular amount of money to the person indicated in the bill. There are two types of the bills of exchange: the promissory note and the payable-through draft.

The promissory note is the type of bill, when the issuer unconditionally undertakes to pay the amount indicated in the promissory note to the holder of the promissory note.

The payable-through draft is the type of bill, when the issuer charges the other entity to pay the amount indicated in the promissory note to the entity provided in the payable-through draft.

The bill may be settled:

• under the submission;
• within the certain time after the submission;
• within the certain time after the issuance;
• on the defined day.

Please refer to our Settlements Department to get more information related.