bill of exchange

American  

noun

1. a written authorization or order to pay a specified sum of money to a specified person.

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bill of exchange British  

noun

1. (now chiefly in foreign transactions) a document, usually negotiable, containing an instruction to a third party to pay a stated sum of money at a designated future date or on demand

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Etymology

Origin of bill of exchange

First recorded in 1570–80

Example Sentences

Morris "relied on public-spirited financiers like Salomon to subscribe to the bank, find purchasers for government bills of exchange, and lend their own money to the government," according to the National Park Service.

From Time

In the Middle Ages, metal coins were supplemented by bills of exchange to make long-term trade easier.

From Economist

A merchant from Lyon who wanted to buy - say - Florentine wool could go to this banker and borrow something called a bill of exchange.

From BBC

Ye Xiaofeng, founder of blockchain start-up ZerOne.IO, said he was talking to two of China's four biggest banks looking to use blockchain for monitoring bills of exchange and credit tracking.

From Reuters

An economy using bills of exchange was not a monetary economy, Graziani argued, but a credit economy:

From Forbes