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GLOSSARY OF INTERNATIONAL TRADE TERMS


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Current TermBill Of Exchange
Bill Of Exchange
A term generally used interchangeably with the word "draft"; this is an unconditional order written from one person (the drawer) to another person (the drawee) directing the drawee to pay a certain sum at a fixed or future determinable date, to the order of the party who is to receive payment (the payee).
See related terms: