A broker who buys bills of exchange, especially Treasury bills, from traders and sells them to banks and discount houses or holds them to maturity.
The bill rate, also known as the discount rate, is the rate applied in the discount market at which bills of exchange are purchased at a value less than their face value upon maturity. This rate considers the quality and associated risk of the bill being discounted.
Bills Receivable refers to a category of current assets on a company’s balance sheet, representing promissory notes or bills of exchange held by the company until their maturity.
Current liabilities are amounts owed by a business to other organizations and individuals that should be paid within one year from the balance-sheet date, including trade creditors, bills of exchange payable, and short-term loans.
A discount house, typically a specialized financial institution or bank, focuses on operating in the discount market, primarily dealing with the discounting of bills of exchange, including Treasury bills.
A comprehensive explanation of endorsement, outlining its various forms, significance in financial transactions, legal implications, and usage in insurance policies.
The specific day when a financial obligation, such as a bond, bill of exchange, or insurance policy, comes due for payment, marking the end of its term.
A comprehensive overview of merchant banks, evolving from financing foreign trade to multifaceted financial institutions providing venture capital, advising on takeovers, and managing investment portfolios.
The money market is a wholesale financial market dedicated to short-term borrowing and lending with instruments like Treasury bills, trade bills, and bills of exchange, traditionally concentrated in areas like Lombard Street in London.
A negotiable instrument is a document of title that can be freely transferred from one party to another, allowing for the facilitation of trade and commerce.
