Figure 46

 

 

1. Currency and value of the bill of exchange in figures.

2. Date the bill is completed.

3. When payment is due, e.g. sight; D/S after sight; on a particular date, e.g. 12 October 20—.

4. If only one bill of exchange is required, you write sola. If more than one is required, write first; and on the second line before the words to the order of, write second of same tenor and date unpaid. This means there are two copies of this bill, i.e. a second (tenor) copy. The drawee only signs (accepts) one copy of the bill.

5. Name of seller writing the bill (the drawer) or the name of another nominated person.

6. Write in words the currency (e.g. euros or yen) and the amount, e.g. twenty thousand written in (1).

7. Left bank unless there is a specified form of words to be written, e.g. payable at the current rate of exchange for banker’s draft in London.

8. Name and address of the person or company the bill is being drawn on, i.e. the drawee.

9. Enter the name of the company (the drawer’s name); name and position of the person signing the bill (the signatory).