By Yasmine EDDAM
8 April 2025
When a company issues or receives a bill of exchange, the question of payment security inevitably arises. Unlike a simple invoice, a bill of exchange incorporates specific legal mechanisms designed to strengthen the confidence of the beneficiary and successive bearers. Understanding these mechanisms is fundamental to assessing risk and using this instrument effectively. Two concepts lie at the heart of these guarantees: provision and acceptance. The provision represents the claim that justifies the payment order, while the acceptance is the firm undertaking by the debtor (the drawee) to pay the sum indicated on the due date. This article explores in detail the operation of these two pillars of the bill of exchange and their vital importance for the security of your commercial transactions. The provision: the basis of payment The provision is a central concept, albeit one that is sometimes misunderstood. It forms the economic basis of the order...
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