[quote=francis]
Quote:
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Originally Posted by jjetts4
A couple months ago I sent out IBOE's on two vehicles.
Where can I find an example of an IBOE? I did not see one in the downloads. Also, I can't find the thread on UCC-1s I saw a few days ago. Can someone direct me?
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Definition may help you.
Bill of Exchange
What does it mean?
A non-interest-bearing written order used primarily in
international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date.
In Other Words...
Bills of exchange are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by individuals, they can be referred to as trade drafts.
mr.yet
