By Yasmine EDDAM
2 May 2025
Bills of exchange are a major instrument in commercial transactions. This negotiable debt instrument enables companies to obtain deferred payment of their invoices while offering the possibility of mobilising their receivables before the due date. Despite developments in payment methods, it remains a tool favoured by economic operators. Understanding how it works and its legal implications is essential for securing your commercial transactions. What is a bill of exchange? A bill of exchange, also known as a draft, is a document in which one person (the drawer) instructs another (the drawee) to pay a specified sum by a specific due date to a third party (the beneficiary) or to his order. This triangular legal transaction is grafted onto a pre-existing commercial relationship between the drawer and the drawee. In practice, a supplier (drawer) who has granted a credit to the...
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