The conversation between human and AI assistant.
What is bill of exchange?
Can you give me an example of how a bill of exchange might work in a trade transaction?
Yes, let's say a company in the United States wants to buy products from a supplier in China. The supplier might request a bill of exchange from the buyer, where the buyer agrees to pay a certain amount of money on a specified date in the future, usually after the products have been delivered. This helps to ensure that the supplier will be paid for their products, even if the buyer is located thousands of miles away.