What is another word for bills of exchange?

Pronunciation: [bˈɪlz ɒv ɛkst͡ʃˈe͡ɪnd͡ʒ] (IPA)

Bills of exchange, also known as drafts or trade bills, refer to a legal document that allows a creditor to demand payment from a debtor. Other synonyms for bills of exchange include negotiable instruments, bank notes, promissory notes, and commercial paper. These documents are commonly used in international trade for paying suppliers and exporting goods. Bills of exchange are also used in banking transactions such as letters of credit and wire transfers. They are considered a secure form of payment as they provide evidence of a debt and ensure payment is made on time. Regardless of its name, bills of exchange play a vital role in facilitating international trade and commerce.

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